Summit Asset Management LLC Buys New Shares in Wells Fargo & Company $WFC

Summit Asset Management LLC bought a new position in Wells Fargo & Company (NYSE:WFC) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 7,799 shares of the financial services provider’s stock, valued at approximately $645,000.

Several other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC increased its holdings in shares of Wells Fargo & Company by 62.3% in the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after buying an additional 25,436 shares during the period. Jump Financial LLC grew its position in Wells Fargo & Company by 12.9% during the 2nd quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider’s stock worth $1,835,000 after acquiring an additional 2,615 shares during the last quarter. Main Street Financial Solutions LLC grew its position in Wells Fargo & Company by 111.0% during the 2nd quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider’s stock worth $1,122,000 after acquiring an additional 7,368 shares during the last quarter. Vivaldi Capital Management LP increased its stake in Wells Fargo & Company by 5.4% in the 2nd quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 165 shares during the period. Finally, Diversify Advisory Services LLC lifted its position in 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 last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 2.6%

Shares of Wells Fargo & Company stock opened at $83.69 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 12-month low of $72.78 and a 12-month high of $97.76. The company has a market cap of $253.08 billion, a P/E ratio of 12.16, a PEG ratio of 0.93 and a beta of 0.92. The company’s fifty day simple moving average is $86.08 and its two-hundred day simple moving average is $82.97.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.23. The firm 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 company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.60 EPS. Research analysts anticipate that Wells Fargo & Company will post 7.26 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be given a dividend of $0.50 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, August 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.07%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on WFC shares. Robert W. Baird increased their price objective on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods lowered their price target on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating for the company in a report on Wednesday, July 15th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Raymond James Financial restated a “market perform” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 14th. Finally, Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Two equities 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $98.61.

Key Headlines Impacting Wells Fargo & Company

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

• Positive Sentiment: Wells Fargo established a new Series HH preferred stock, expanding its capital-raising options. A related analysis highlights the preferred shares’ roughly 6.6% yield, which may appeal to income-focused investors and support interest in Wells Fargo’s securities. Skip The CDs For Wells Fargo’s 6.6% Yielding Preferred Share Wells Fargo Establishes New Series HH Preferred Stock
• Positive Sentiment: Valuation commentary says WFC still appears discounted to an intrinsic-value estimate after generating a 126.5% total return over three years. That suggests potential long-term upside, although the size of the discount may be narrowing. Wells Fargo Stock Looks Cheap On Fair Value But Full On Earnings
• Neutral Sentiment: Recent fundamental performance remains solid: Wells Fargo’s latest reported quarter exceeded earnings and revenue estimates, with year-over-year revenue growth. However, investors may be weighing those results against the stock’s already substantial gains.
• Negative Sentiment: Wells Fargo has lagged some major-bank peers in 2026, particularly BNY Mellon, highlighting concerns that its business mix may be less favorable in the current market environment. Which Big Bank Stock Has Dominated in 2026
• Negative Sentiment: Commentary noting that WFC looks attractive on fair value but “full” on earnings suggests investors may be taking profits or demanding stronger catalysts before pushing the stock higher. Separate market coverage also recorded a recent decline while the broader market improved, indicating relative selling pressure. Wells Fargo Stock Declines While Market Improves

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.