Wells Fargo & Company $WFC Shares Purchased by Lighthouse Financial Services Inc. ADV

Lighthouse Financial Services Inc. ADV raised its stake in Wells Fargo & Company (NYSE:WFC) by 73.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,998 shares of the financial services provider’s stock after purchasing an additional 8,069 shares during the quarter. Lighthouse Financial Services Inc. ADV’s holdings in Wells Fargo & Company were worth $1,633,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in WFC. Godfrey Financial Associates Inc. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $25,000. Miller Capital Partners Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $25,000. Navalign LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $26,000. Joseph Group Capital Management purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $28,000. Finally, Phillip James Consulting Co. acquired a new position in Wells Fargo & Company during the 1st quarter worth approximately $28,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Up 0.7%

NYSE WFC opened at $88.74 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76. The company has a 50-day simple moving average of $85.73 and a 200-day simple moving average of $83.10. The firm has a market capitalization of $268.34 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 0.96 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.23. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The firm had revenue of $22.62 billion for the quarter, compared to analyst estimates of $21.86 billion. During the same quarter in the prior year, the business earned $1.60 earnings per share. Wells Fargo & Company’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts forecast that Wells Fargo & Company will post 7.26 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be issued a $0.50 dividend. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 7th. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.07%.

Key Wells Fargo & Company News

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

• Positive Sentiment: Wells Fargo declared quarterly cash dividends on six series of preferred stock. The announcement provides clarity for income-focused investors and signals that the bank continues to support its preferred-capital structure. Wells Fargo & Company Declares Cash Dividends on Preferred Stock
• Positive Sentiment: Recent analysis suggests WFC could be about 10% undervalued despite strong gains over the past three months, supporting the view that valuation may still leave room for additional appreciation. Wells Fargo Could Be 10% Undervalued After Preferred Dividend Declaration
• Positive Sentiment: Investors have been rotating from weaker-performing artificial-intelligence stocks into financials, creating a favorable sector backdrop for Wells Fargo and other banks. Risk-On Momentum in Bank Stocks Echoes Aftermath of Dot-Com Bust
• Positive Sentiment: Wells Fargo’s latest earnings exceeded expectations, with $1.96 in earnings per share and $22.62 billion in revenue, while revenue grew 8.6% year over year. Analysts continue to focus on potential net-interest-income growth, asset-cap removal and increased capital returns. WFC Stock Gains 20.5% in 3 Months: Buy, Hold or Sell the Stock Now?
• Neutral Sentiment: The bank is expanding its post-asset-cap strategy through tokenized deposits for corporate clients and new long-term debt and depositary-share offerings. The initiatives could improve payment capabilities and investment capacity, but their financial impact remains uncertain. Is Wells Fargo’s Tokenized Deposit Push Reshaping Its Post-Cap Investment Story?
• Negative Sentiment: After a roughly 20% three-month advance, valuation and profit-taking risks could limit near-term upside, making investors more sensitive to execution on growth and regulatory milestones. Why Is Wells Fargo Up Since Last Earnings Report?

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. UBS Group decreased their price target on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. JPMorgan Chase & Co. increased their price objective on shares of Wells Fargo & Company from $93.50 to $95.50 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Raymond James Financial reiterated a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. Morgan Stanley boosted their target price 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, June 29th. Finally, Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.61.

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.