State of Michigan Retirement System Has $67.84 Million Holdings in Wells Fargo & Company $WFC

State of Michigan Retirement System cut its holdings in Wells Fargo & Company (NYSE:WFC) by 1.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 852,149 shares of the financial services provider’s stock after selling 13,900 shares during the period. State of Michigan Retirement System’s holdings in Wells Fargo & Company were worth $67,840,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of WFC. Brighton Jones LLC lifted its holdings in Wells Fargo & Company by 62.3% in the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after purchasing an additional 25,436 shares during the last quarter. Jump Financial LLC boosted its position in Wells Fargo & Company by 12.9% during the second quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider’s stock worth $1,835,000 after purchasing an additional 2,615 shares during the period. Main Street Financial Solutions LLC grew its holdings in Wells Fargo & Company by 111.0% during the second quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider’s stock valued at $1,122,000 after purchasing an additional 7,368 shares during the last quarter. Vivaldi Capital Management LP grew its holdings in Wells Fargo & Company by 5.4% during the second quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider’s stock valued at $259,000 after purchasing an additional 165 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its position in shares of Wells Fargo & Company by 51.2% in the second quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider’s stock valued at $2,044,000 after purchasing an additional 8,714 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Wells Fargo & Company

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

• Positive Sentiment: Analysts expect Wells Fargo and other major U.S. banks to post earnings beats, with favorable operating trends such as strong trading activity, loan demand, and capital markets activity supporting the sector ahead of results. US bank earnings could surprise to the upside as Bank of America highlights strong operating backdrop
• Positive Sentiment: Wells Fargo stock has been gaining attention from analysts and hedge funds, with Wall Street maintaining a consensus Buy view and investors expecting continued upside if the bank shows renewed growth in Tuesday’s report. Looking to Buy Wells Fargo & Co (WFC) Stock? Listen to JPMorgan First
• Positive Sentiment: Pre-earnings coverage suggests one key metric in WFC’s report could show whether the bank is finally returning to growth, which is keeping traders focused on the stock into the earnings release. Wells Fargo Reports Q2 Earnings Tuesday Morning. Here’s the Number That Matters Most.
• Neutral Sentiment: Wells Fargo flagged tech concentration risk as earnings season begins, a reminder that concentrated exposure in markets and the broader macro backdrop could affect near-term sentiment. Wells Fargo flags tech concentration risk as earnings season kicks off
• Neutral Sentiment: Multiple previews note that Wells Fargo, JPMorgan, Goldman Sachs, and Bank of America report on the same day, setting up a high-profile earnings session that could drive sector-wide volatility rather than bank-specific movement alone. Wall Street Prepares For Four Top Banks To Report Earnings On The Same Day

Wells Fargo & Company Stock Performance

NYSE WFC opened at $87.54 on Tuesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $267.89 billion, a price-to-earnings ratio of 13.51, a P/E/G ratio of 1.00 and a beta of 0.92. The company’s fifty day moving average is $80.77 and its two-hundred day moving average is $83.91. Wells Fargo & Company has a 52-week low of $72.78 and a 52-week high of $97.76.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.02. The company had revenue of $11.62 billion for the quarter, compared to the consensus estimate of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.39 EPS. Equities research analysts forecast that Wells Fargo & Company will post 6.98 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were given a dividend of $0.45 per share. 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 27.78%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on WFC shares. Bank of America boosted their price objective on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. The Goldman Sachs Group lowered their target price on shares of Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating on the stock in a research note on Monday, March 23rd. KGI Securities downgraded shares of Wells Fargo & Company to a “hold” rating in a report on Thursday, April 16th. HSBC raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Wednesday, April 1st. Finally, Raymond James Financial began coverage on shares of Wells Fargo & Company in a report on Wednesday, July 8th. They set a “market perform” rating for the company. Two 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. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus target price of $98.34.

Wells Fargo & Company 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.