Elevation Point Wealth Partners LLC Buys 63,614 Shares of Wells Fargo & Company $WFC

Elevation Point Wealth Partners LLC boosted its stake in Wells Fargo & Company (NYSE:WFC) by 408.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,206 shares of the financial services provider’s stock after buying an additional 63,614 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Wells Fargo & Company were worth $6,306,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of WFC. Brighton Jones LLC increased its holdings in shares of Wells Fargo & Company by 62.3% during the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after buying an additional 25,436 shares in the last quarter. Jump Financial LLC boosted its holdings in shares of Wells Fargo & Company by 12.9% in the 2nd quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider’s stock worth $1,835,000 after acquiring an additional 2,615 shares in the last quarter. Main Street Financial Solutions LLC grew its position in Wells Fargo & Company by 111.0% during the 2nd quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider’s stock worth $1,122,000 after acquiring an additional 7,368 shares during the last quarter. Vivaldi Capital Management LP grew its position in Wells Fargo & Company by 5.4% during the 2nd quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 165 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its position in Wells Fargo & Company by 51.2% in the 2nd quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider’s stock valued at $2,044,000 after purchasing an additional 8,714 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $85.49 on Friday. Wells Fargo & Company has a 52-week low of $72.78 and a 52-week high of $97.76. The stock has a market cap of $261.61 billion, a PE ratio of 13.19, a PEG ratio of 0.98 and a beta of 0.92. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. The firm’s 50 day moving average price is $80.05 and its two-hundred day moving average price is $84.23.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.02. The firm had revenue of $11.62 billion during the quarter, compared to analyst estimates of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.39 EPS. As a group, analysts forecast that Wells Fargo & Company will post 6.98 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. Wells Fargo & Company’s payout ratio is 27.78%.

Analysts Set New Price Targets

Several analysts have recently commented on WFC shares. Truist Financial increased their target price on Wells Fargo & Company from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Monday. Phillip Securities raised shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, May 7th. Piper Sandler restated an “overweight” rating and issued a $94.00 price objective (down from $100.00) on shares of Wells Fargo & Company in a research report on Wednesday, April 15th. Finally, KGI Securities downgraded shares of Wells Fargo & Company to a “hold” rating in a research note on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $98.34.

Key Headlines Impacting Wells Fargo & Company

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Analysts recently lifted price targets on Wells Fargo, including a Morgan Stanley target of $102, reinforcing a constructive view on the bank ahead of earnings. Wells Fargo Stock (WFC) Opinions on Analyst Price Target Increases
• Positive Sentiment: Wells Fargo is benefiting from expectations that Q2 results could show improved earnings, with analysts forecasting EPS around $1.71 and revenue near $21.81 billion. Top Wall Street Forecasters Revamp Wells Fargo Expectations Ahead Of Q2 Earnings
• Positive Sentiment: Investor sentiment was also helped by recent news that the stock rose after dividend hike news, pointing to continued capital return strength. Top Wall Street Forecasters Revamp Wells Fargo Expectations Ahead Of Q2 Earnings
• Positive Sentiment: Senator Mitch McConnell disclosed a new purchase of WFC shares, adding a modest political-sentiment boost. Congress Trade: Senator Mitch McConnell Just Disclosed New Stock Trades
• Neutral Sentiment: Recent commentary continues to compare Wells Fargo with other major banks as investors look for value and income opportunities, but this is more of a sector discussion than a company-specific catalyst. More Bang for Your Buck: Is Bank of America or Wells Fargo the Better Value-and-Income Buy?
• Neutral Sentiment: Some articles noted that Wells Fargo could benefit from potential tariff refunds and other non-operating gains, but the impact is still uncertain and not yet reflected in results. Wells Fargo (WFC) Could Get An Earnings Lift From Supreme Court Tariff Refunds
• Negative Sentiment: Longer-term concerns remain around Wells Fargo’s lagging return on equity and pressure on net interest margins, which could cap enthusiasm if earnings disappoint. Wells Fargo Stock Has Lagged Other Banks. Earnings Can Change That.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.