Wells Fargo & Company $WFC Stock Holdings Raised by AIA Group Ltd

AIA Group Ltd raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 19.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 385,894 shares of the financial services provider’s stock after buying an additional 62,001 shares during the quarter. AIA Group Ltd’s holdings in Wells Fargo & Company were worth $30,721,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of WFC. Legacy Wealth Advisors LLC boosted its holdings in shares of Wells Fargo & Company by 5.9% during the first quarter. Legacy Wealth Advisors LLC now owns 4,352 shares of the financial services provider’s stock valued at $346,000 after acquiring an additional 241 shares during the period. Spartan Wealth Advisory Services LLC bought a new position in Wells Fargo & Company during the first quarter valued at about $2,615,000. Freemont Management S.A. grew its stake in shares of Wells Fargo & Company by 258.8% in the 1st quarter. Freemont Management S.A. now owns 47,000 shares of the financial services provider’s stock worth $3,742,000 after purchasing an additional 33,900 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its position in Wells Fargo & Company by 2.8% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 29,500 shares of the financial services provider’s stock worth $2,348,000 after buying an additional 792 shares during the last quarter. Finally, GatePass Capital LLC raised its position in shares of Wells Fargo & Company by 3.2% during the first quarter. GatePass Capital LLC now owns 13,974 shares of the financial services provider’s stock worth $1,112,000 after purchasing an additional 438 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Trending Headlines about 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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WFC. JPMorgan Chase & Co. boosted their price target on shares of Wells Fargo & Company from $86.50 to $93.50 and gave the company a “neutral” rating in a report on Monday, July 6th. HSBC raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 price target for the company in a research report on Wednesday, April 1st. Raymond James Financial restated a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday. KGI Securities downgraded Wells Fargo & Company to a “hold” rating in a research report on Thursday, April 16th. Finally, Jefferies Financial Group began coverage on Wells Fargo & Company in a report on Thursday, March 26th. They set a “buy” rating and a $100.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.50.

Wells Fargo & Company Trading Down 0.6%

Shares of NYSE WFC opened at $87.52 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 1-year low of $72.78 and a 1-year high of $97.76. The company has a market cap of $267.82 billion, a PE ratio of 12.72, a P/E/G ratio of 0.97 and a beta of 0.92. The company has a 50-day moving average of $81.44 and a two-hundred day moving average of $83.77.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders 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 yield of 2.1%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 26.16%.

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.