39,670 Wells Fargo & Company $WFC Shares Purchased by Kuhn & Co Investment Counsel

Key Points

• Kuhn & Co Investment Counsel increased its Wells Fargo position by 88.2% in the third quarter, purchasing 39,670 additional shares and bringing its holdings to 84,672 shares valued at approximately $6.78 million. Institutional investors collectively own 75.9% of WFC.
• Wells Fargo reported third-quarter earnings of $1.87 per share, slightly beating estimates of $1.85, while revenue rose 2% year over year to $21.87 billion. The company also declared a quarterly dividend of $0.50 per share, implying a 2.3% annualized yield.
• WFC shares opened at $85.75, and analysts maintain a “Moderate Buy” consensus with an average price target of $98.11, though some analysts cited ongoing margin pressure and the need to achieve management’s return targets.

Kuhn & Co Investment Counsel boosted its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 88.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 84,672 shares of the financial services provider's stock after buying an additional 39,670 shares during the quarter. Wells Fargo & Company makes up 3.7% of Kuhn & Co Investment Counsel's holdings, making the stock its 4th biggest position. Kuhn & Co Investment Counsel's holdings in Wells Fargo & Company were worth $6,778,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Phillip James Consulting Co. acquired a new stake in shares of Wells Fargo & Company during the 1st quarter valued at about $28,000. Security National Bank of Sioux City Iowa IA acquired a new position in Wells Fargo & Company in the 2nd quarter worth about $28,000. Main Street Group LTD acquired a new position in Wells Fargo & Company in the 1st quarter worth about $29,000. Dunhill Financial LLC purchased a new position in Wells Fargo & Company during the second quarter worth approximately $30,000. Finally, BOK Financial Private Wealth Inc. purchased a new position in Wells Fargo & Company during the second quarter worth approximately $34,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Up 2.8%

WFC stock opened at $85.75 on Tuesday. Wells Fargo & Company has a 52 week low of $72.78 and a 52 week high of $97.76. The company has a quick ratio of 0.90, a current ratio of 0.89 and a debt-to-equity ratio of 1.14. The firm has a 50-day simple moving average of $84.37 and a 200-day simple moving average of $83.66. The stock has a market capitalization of $257.41 billion, a P/E ratio of 12.09, a P/E/G ratio of 0.90 and a beta of 0.96.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 13th. The financial services provider reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.02. Wells Fargo & Company had a net margin of 17.64% and a return on equity of 14.05%. The firm had revenue of $21.87 billion for the quarter, compared to the consensus estimate of $22.30 billion. During the same period last year, the firm posted $1.66 earnings per share. The company's revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts forecast that Wells Fargo & Company will post 7.27 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 6th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, November 6th. Wells Fargo & Company's dividend payout ratio (DPR) is 28.21%.

Wells Fargo & Company News Roundup

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

• Positive Sentiment: Exchange-traded funds purchased approximately $80.2 million of Wells Fargo stock on Oct. 29, indicating continued institutional demand that may support the shares. 34 ETFs Add to Wells Fargo Holdings
• Positive Sentiment: JPMorgan projected strong potential appreciation for Wells Fargo, adding to the bullish analyst view surrounding the stock. JPMorgan Forecasts Strong Price Appreciation for Wells Fargo
• Positive Sentiment: Wells Fargo led New York City lenders as the 20 largest institutions originated $36 billion in loans over 12 months, a 57% increase. Strong loan activity supports revenue and interest-income prospects, although higher yields have recently cooled deal activity. Wells Fargo Leads NYC Lenders
• Neutral Sentiment: Wells Fargo beat third-quarter earnings expectations with $1.87 in EPS versus the $1.85 consensus. Loan and deposit growth helped improve interest earnings and returns, but the muted market reaction reflects concern that margins remain tight and management still has to reach its 17%–18% return target. Wells Fargo Q3 Earnings Beat
• Neutral Sentiment: Wells Fargo analysts raised LyondellBasell’s price target to $76 but cut Gates Industrial’s target to $28. These actions show active research coverage but have limited direct implications for WFC’s valuation. Analyst Forecasts for LyondellBasell Analyst Forecasts for Gates Industrial
• Negative Sentiment: Beginning Nov. 24, customers who revoke an AI agent’s account access may remain liable for subsequent activity unless they can provide evidence of the revocation. The policy could create customer-friction, reputational and regulatory risks for Wells Fargo. Wells Fargo AI-Agent Access Policy

Analysts Set New Price Targets

Several brokerages have commented on WFC. JPMorgan Chase & Co. raised their price objective on Wells Fargo & Company from $91.50 to $92.00 and gave the company a "neutral" rating in a report on Friday. Truist Financial upped their target price on Wells Fargo & Company from $94.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, October 1st. Royal Bank Of Canada reduced their target price on Wells Fargo & Company from $100.00 to $92.00 and set an "outperform" rating for the company in a research note on Wednesday, October 14th. Weiss Ratings reiterated a "buy (b)" rating on shares of Wells Fargo & Company in a research report on Thursday, October 15th. Finally, Raymond James Financial reissued a "market perform" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Wells Fargo & Company currently has an average rating of "Moderate Buy" and a consensus price target of $98.11.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified financial services company that provides banking, lending, investment, and financial management services to individuals, businesses, and institutions. Its offerings include deposit accounts, residential and commercial lending, credit cards, payments, treasury management, and other banking products.

The company also provides wealth and investment management services, including financial planning, brokerage, advisory, and private banking solutions.

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