Wells Fargo & Company $WFC Shares Acquired by United Asset Strategies Inc.

United Asset Strategies Inc. lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 76.3% during the second quarter, HoldingsChannel.com reports. The fund owned 67,860 shares of the financial services provider’s stock after purchasing an additional 29,364 shares during the quarter. United Asset Strategies Inc.’s holdings in Wells Fargo & Company were worth $5,608,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of WFC. Godfrey Financial Associates Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter worth $25,000. Miller Capital Partners Inc. purchased a new position in Wells Fargo & Company during the 4th quarter worth $25,000. Navalign LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at $26,000. Joseph Group Capital Management acquired a new position in Wells Fargo & Company in the fourth quarter valued at $28,000. Finally, Phillip James Consulting Co. purchased a new stake in shares of Wells Fargo & Company in the first quarter valued at about $28,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WFC. Truist Financial increased their target price on shares of Wells Fargo & Company from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Friday, July 17th. Keefe, Bruyette & Woods decreased their price objective on Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating for the company in a research report on Wednesday, July 15th. JPMorgan Chase & Co. lifted their target price on Wells Fargo & Company from $93.50 to $95.50 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Finally, Raymond James Financial reissued a “market perform” rating on shares of Wells Fargo & Company in a report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average price target of $98.61.

Wells Fargo & Company News Summary

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

• Positive Sentiment: Wells Fargo launched tokenized deposits for corporate and commercial customers, enabling 24/7 blockchain-based settlement while keeping funds within the insured banking system. The service could improve transaction speed, strengthen client relationships and create future payment-related revenue opportunities. Is Wells Fargo’s Tokenized Deposit Push Reshaping Its Post-Cap Investment Story (WFC)?
• Positive Sentiment: The tokenized-deposit initiative was presented as part of a wider effort to pair balance-sheet strength with new digital infrastructure. Investors may view the move as evidence that Wells Fargo is investing more aggressively in growth and modernizing its commercial-banking platform. Wells Fargo (WFC) Bets On Blockchain, But Can The Rally Continue?
• Neutral Sentiment: Wells Fargo issued callable, unsecured senior notes with maturities ranging from 2029 to 2051 and announced perpetual, non-cumulative depositary shares. The transactions can support funding and capital flexibility, but they also add financing obligations and do not immediately establish a material earnings benefit. Is Wells Fargo’s Tokenized Deposit Push Reshaping Its Post-Cap Investment Story (WFC)?
• Neutral Sentiment: Separate Wells Fargo commentary on NVIDIA’s artificial-intelligence infrastructure financing and Microsoft’s position as AI costs decline reflects the bank’s broader technology-sector research, but it does not materially change Wells Fargo’s own earnings outlook. Nvidia Is Going Beyond GPUs in the AI Boom, Wells Fargo Says

Wells Fargo & Company Stock Up 1.7%

WFC stock opened at $88.96 on Thursday. The stock has a market capitalization of $269.02 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92. The company has a fifty day moving average of $85.47 and a 200-day moving average of $83.05. 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.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.23. The business had revenue of $22.62 billion for the quarter, compared to analyst estimates of $21.86 billion. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.60 earnings per share. As a group, analysts expect that Wells Fargo & Company will post 7.26 EPS for the current 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 issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s dividend payout ratio is presently 29.07%.

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.