Wells Fargo & Company $WFC Shares Sold by Mcdonald Capital Investors Inc. CA

Mcdonald Capital Investors Inc. CA lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 690,614 shares of the financial services provider’s stock after selling 9,068 shares during the quarter. Wells Fargo & Company makes up about 3.8% of Mcdonald Capital Investors Inc. CA’s investment portfolio, making the stock its 14th biggest position. Mcdonald Capital Investors Inc. CA’s holdings in Wells Fargo & Company were worth $54,980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Godfrey Financial Associates Inc. purchased a new position in Wells Fargo & Company during the fourth quarter worth about $25,000. Miller Capital Partners Inc. purchased a new stake in Wells Fargo & Company in the 4th quarter valued at about $25,000. Navalign LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $26,000. Joseph Group Capital Management purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth about $28,000. Finally, Core Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.4%

Shares of NYSE:WFC opened at $87.54 on Tuesday. The stock has a 50-day simple moving average of $80.77 and a 200-day simple moving average of $83.91. The stock has a market capitalization of $267.89 billion, a P/E ratio of 13.51, a PEG ratio of 1.00 and a beta of 0.92. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year high of $97.76. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, beating the consensus estimate of $1.58 by $0.02. The firm had revenue of $11.62 billion for 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%. Wells Fargo & Company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.39 earnings per share. Equities analysts forecast that Wells Fargo & Company will post 6.98 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WFC. Jefferies Financial Group initiated coverage on shares of Wells Fargo & Company in a report on Thursday, March 26th. They issued a “buy” rating and a $100.00 target price for the company. UBS Group cut their price target on shares of Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Monday, April 20th. The Goldman Sachs Group lowered their price objective on shares of Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Finally, Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $98.34.

Wells Fargo & Company News Summary

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

• Positive Sentiment: Analysts expect Wells Fargo and other major U.S. banks to post earnings beats, with favorable operating trends such as strong trading activity, loan demand, and capital markets activity supporting the sector ahead of results. US bank earnings could surprise to the upside as Bank of America highlights strong operating backdrop
• Positive Sentiment: Wells Fargo stock has been gaining attention from analysts and hedge funds, with Wall Street maintaining a consensus Buy view and investors expecting continued upside if the bank shows renewed growth in Tuesday’s report. Looking to Buy Wells Fargo & Co (WFC) Stock? Listen to JPMorgan First
• Positive Sentiment: Pre-earnings coverage suggests one key metric in WFC’s report could show whether the bank is finally returning to growth, which is keeping traders focused on the stock into the earnings release. Wells Fargo Reports Q2 Earnings Tuesday Morning. Here’s the Number That Matters Most.
• Neutral Sentiment: Wells Fargo flagged tech concentration risk as earnings season begins, a reminder that concentrated exposure in markets and the broader macro backdrop could affect near-term sentiment. Wells Fargo flags tech concentration risk as earnings season kicks off
• Neutral Sentiment: Multiple previews note that Wells Fargo, JPMorgan, Goldman Sachs, and Bank of America report on the same day, setting up a high-profile earnings session that could drive sector-wide volatility rather than bank-specific movement alone. Wall Street Prepares For Four Top Banks To Report Earnings On The Same Day

Wells Fargo & Company Profile

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.