Independent Financial Group LLC Purchases Shares of 21,448 Wells Fargo & Company $WFC

Independent Financial Group LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 21,448 shares of the financial services provider’s stock, valued at approximately $1,708,000.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Wells Fargo & Company in the 4th quarter valued at about $4,512,563,000. Mawer Investment Management Ltd. raised its holdings in shares of Wells Fargo & Company by 177.7% in the 4th quarter. Mawer Investment Management Ltd. now owns 4,876,127 shares of the financial services provider’s stock worth $454,455,000 after purchasing an additional 3,120,399 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Wells Fargo & Company by 13.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,625,070 shares of the financial services provider’s stock valued at $1,922,257,000 after purchasing an additional 2,369,260 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in Wells Fargo & Company during the fourth quarter worth approximately $173,651,000. Finally, Capital Research Global Investors grew its position in Wells Fargo & Company by 4.9% in the fourth quarter. Capital Research Global Investors now owns 37,421,387 shares of the financial services provider’s stock worth $3,487,687,000 after buying an additional 1,760,484 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Key Headlines Impacting Wells Fargo & Company

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

• Positive Sentiment: Wells Fargo reported stronger-than-expected Q2 results, with adjusted EPS of $1.96 topping Wall Street’s $1.72 estimate, driven by higher fee income, investment banking activity and net interest income. Wells Fargo CEO Says America Is Still Spending Big—Even With Inflation Concerns
• Positive Sentiment: Wells Fargo was upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about its earnings outlook and adding another bullish signal for investors. Wells Fargo (WFC) Upgraded to Buy: Here’s What You Should Know
• Positive Sentiment: Analysts remain constructive after the bank’s earnings beat, with industry commentary highlighting strong Q2 performance across major banks including Wells Fargo. Revving Up Returns: Big Banks Race Through the Rate Plateau (WFC)
• Neutral Sentiment: Wells Fargo also appeared in commentary noting that big bank earnings beat estimates, but some of the profit strength came from lower loan-loss reserves, which may be less repeatable going forward. Revving Up Returns: Big Banks Race Through the Rate Plateau (WFC)
• Neutral Sentiment: Wells Fargo’s housing-market index showed weaker homebuilder confidence in July, a modest macroeconomic headwind for the bank’s mortgage-related business. U.S. Homebuilder Confidence Unexpectedly Deteriorates In July

Wells Fargo & Company Stock Up 0.0%

Wells Fargo & Company stock opened at $87.52 on Monday. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $267.82 billion, a PE ratio of 12.72, a P/E/G ratio of 0.96 and a beta of 0.92. The firm’s 50 day moving average price is $81.44 and its two-hundred day moving average price is $83.69.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were paid a $0.45 dividend. 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 dividend payout ratio is 26.16%.

Analyst Ratings Changes

Several research analysts have issued reports on WFC shares. Keefe, Bruyette & Woods dropped their price target on Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating on the stock in a report on Wednesday, July 15th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a report on Monday, April 20th. Bank of America boosted their target price on Wells Fargo & Company from $95.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Piper Sandler reaffirmed an “overweight” rating and set a $94.00 target price (down from $100.00) on shares of Wells Fargo & Company in a report on Wednesday, April 15th. Finally, Robert W. Baird increased their price target on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.50.

Wells Fargo & Company 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.