Thomasville National Bank Purchases Shares of 13,987 Wells Fargo & Company $WFC

Thomasville National Bank acquired a new position in Wells Fargo & Company (NYSE:WFC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 13,987 shares of the financial services provider’s stock, valued at approximately $1,156,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Nixon Peabody Trust Co. boosted its position in shares of Wells Fargo & Company by 3.6% in the fourth quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock valued at $312,000 after acquiring an additional 115 shares during the period. Simmons Bank boosted its holdings in Wells Fargo & Company by 1.9% in the 4th quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock valued at $593,000 after purchasing an additional 116 shares during the period. Wood Tarver Financial Group LLC grew its position in Wells Fargo & Company by 1.6% in the 4th quarter. Wood Tarver Financial Group LLC now owns 7,754 shares of the financial services provider’s stock worth $722,000 after purchasing an additional 120 shares during the last quarter. Mine & Arao Wealth Creation & Management LLC. increased its holdings in shares of Wells Fargo & Company by 0.4% during the 4th quarter. Mine & Arao Wealth Creation & Management LLC. now owns 32,410 shares of the financial services provider’s stock worth $3,021,000 after purchasing an additional 122 shares during the period. Finally, Allegheny Financial Group raised its position in shares of Wells Fargo & Company by 2.2% during the fourth quarter. Allegheny Financial Group now owns 5,803 shares of the financial services provider’s stock valued at $541,000 after buying an additional 125 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Wells Fargo & Company from $93.50 to $95.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods lowered their price objective on Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 15th. UBS Group reduced their target price on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus target price of $98.61.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $88.74 on Monday. Wells Fargo & Company has a 1-year low of $72.78 and a 1-year high of $97.76. The company has a 50 day moving average of $85.73 and a 200-day moving average of $83.06. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. The firm has a market cap of $268.34 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 0.97 and a beta of 0.92.

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

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, August 7th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s dividend payout ratio is presently 29.07%.

More 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?

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.