Sen. Mitch McConnell Purchases Shares of Wells Fargo & Company (NYSE:WFC)

Senator Mitch McConnell (Republican-Kentucky) recently bought shares of Wells Fargo & Company (NYSE:WFC). In a filing disclosed on March 19th, the Senator disclosed that they had bought between $1,001 and $15,000 in Wells Fargo & Company stock on March 1st.

Senator Mitch McConnell also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Luminar Technologies (NASDAQ:LAZR) on 12/24/2025.

Wells Fargo & Company Stock Up 1.6%

Shares of NYSE WFC traded up $1.20 during midday trading on Friday, reaching $77.59. 40,439,377 shares of the company’s stock were exchanged, compared to its average volume of 19,190,040. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.90 and a current ratio of 0.90. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $97.76. The business’s fifty day moving average price is $85.79 and its two-hundred day moving average price is $86.30. The stock has a market capitalization of $239.41 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 0.85 and a beta of 1.08.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. The firm had revenue of $21.29 billion during the quarter, compared to analyst estimates of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.Wells Fargo & Company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.43 EPS. Analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, March 1st. Stockholders of record on Friday, February 6th were paid a dividend of $0.45 per share. The ex-dividend date was Friday, February 6th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 28.71%.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Wells Fargo & Company from $99.00 to $99.50 and gave the company a “neutral” rating in a research note on Monday, February 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Wednesday, January 21st. Evercore restated an “outperform” rating on shares of Wells Fargo & Company in a research note on Friday, March 6th. Argus boosted their price target on Wells Fargo & Company from $94.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Wells Fargo & Company in a report on Thursday, January 15th. Thirteen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.71.

Insider Activity at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Ellen R. Patterson sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $87.40, for a total value of $5,244,000.00. Following the completion of the sale, the executive vice president directly owned 169,496 shares in the company, valued at $14,813,950.40. This represents a 26.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Bridget E. Engle sold 30,000 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $87.10, for a total value of $2,613,000.00. Following the completion of the sale, the executive vice president owned 83,478 shares of the company’s stock, valued at approximately $7,270,933.80. This trade represents a 26.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 115,000 shares of company stock worth $10,050,000 over the last quarter. 0.08% of the stock is currently owned by company insiders.

Key Stories Impacting Wells Fargo & Company

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

• Positive Sentiment: Senator Mitch McConnell disclosed a purchase of WFC shares, a symbolic vote of confidence that can support sentiment among retail and political-watch investors. Congress Trade: Senator Mitch McConnell Just Disclosed New Stock Trades
• Positive Sentiment: Recent bullish retail/analysis pieces highlight WFC’s dividend yield and improving earnings (Wells Fargo beat EPS estimates in January), which can attract income-focused investors. Wells Fargo (WFC) Could Be a Great Choice
• Neutral Sentiment: Wells Fargo initiated coverage of SoFi Technologies at Equal Weight; the move influenced SoFi shares but is primarily a research event rather than a corporate catalyst for WFC itself. Wells Fargo starts SoFi Technologies at Equal Weight on valuation, loan sale risk
• Neutral Sentiment: Goldman Sachs moving to rolling, phased layoffs signals industry-wide cost and staffing adjustments as banks adapt to AI and flexibility — a sector context item that could influence competitive dynamics over time. GS’ Rolling Layoffs in 2026: A Strategic Shift in Workforce Management
• Neutral Sentiment: Analyst activity at Wells Fargo (e.g., raising coverage/targets on other companies) shows the firm’s research footprint is active but is an indirect factor for WFC’s share moves. Rhythm Pharmaceuticals (RYTM) PT Increased From $136 to $143 at Wells Fargo
• Negative Sentiment: Unusual options activity: traders bought roughly 108,090 WFC put contracts (about +99% vs. average), signaling increased hedging or bearish bets that can pressure sentiment and raise volatility.
• Negative Sentiment: The Fed held rates and flagged higher inflation, pressuring bank stocks (including WFC) on concerns about margins and economic headwinds; this macro update is a near-term drag on bank valuations. Fed Keeps Rates Steady Amid Rising Inflation: What it Means for Banks
• Negative Sentiment: Truist lowered its expectations for WFC’s stock price, reflecting some analyst skepticism that could weigh on sentiment until clearer earnings/loan trends emerge. Truist Financial Has Lowered Expectations for Wells Fargo & Company

Institutional Trading of Wells Fargo & Company

A number of large investors have recently modified their holdings of WFC. Godfrey Financial Associates Inc. bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Miller Capital Partners Inc. bought a new position in shares of Wells Fargo & Company in the fourth quarter worth $25,000. Navalign LLC bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at about $26,000. Redmont Wealth Advisors LLC bought a new position in Wells Fargo & Company in the 3rd quarter valued at about $27,000. Finally, Marquette Asset Management LLC raised its position in shares of Wells Fargo & Company by 472.4% during the 3rd quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock worth $28,000 after buying an additional 274 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

About Senator McConnell

Mitch McConnell (Republican Party) is a member of the U.S. Senate from Kentucky. He assumed office on January 3, 1985. His current term ends on January 3, 2027. McConnell (Republican Party) ran for re-election to the U.S. Senate to represent Kentucky. He won in the general election on November 3, 2020. McConnell is the Senate minority leader in the 118th Congress. He became the minority leader when the Democratic Party gained a majority in the Senate in January 2021.McConnell previously served as Senate majority leader from 2015 to 2021. He was unanimously elected as majority leader by Republicans following the 2014 elections. Before that, he served as Senate minority leader from 2007 to 2015. As Senate majority leader, McConnell set records for the number of judicial nominees confirmed during the first two years of a presidency. As of July 2019, the Senate had confirmed two Supreme Court justices, 41 circuit court appeals judges, and 80 district court judges during President Donald Trump’s presidency. “To put that in context, that’s about one in five of the Courts of Appeals judges nationwide have now been appointed by this president and confirmed by this Senate in two and a half years. And I want you to know that my view is, there will be no vacancies left behind. None,” McConnell said in June 2019. McConnell previously worked as the Deputy U.S. Attorney for Legislative Affairs from 1974 to 1975 and as a judge-executive of Jefferson County, KY, from 1979 to 1985.

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.