Axxcess Wealth Management LLC Purchases 357,925 Shares of Wells Fargo & Company $WFC

Key Points

• Axxcess Wealth Management boosted its Wells Fargo stake by 496.4% in the fourth quarter, ending with 430,025 shares worth about $40.1 million.
• Institutional ownership remains high, with multiple funds adding to positions; overall, 75.90% of Wells Fargo shares are held by institutional investors.
• Analyst sentiment is still generally positive despite some target-price cuts, with the stock carrying a Moderate Buy consensus and an average price target of $97.53.

Axxcess Wealth Management LLC increased its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 496.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 430,025 shares of the financial services provider's stock after purchasing an additional 357,925 shares during the quarter. Axxcess Wealth Management LLC's holdings in Wells Fargo & Company were worth $40,078,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Diversified Trust Co. raised its holdings in shares of Wells Fargo & Company by 59.7% in the fourth quarter. Diversified Trust Co. now owns 35,285 shares of the financial services provider's stock worth $3,289,000 after buying an additional 13,196 shares during the last quarter. Mawer Investment Management Ltd. purchased a new position in shares of Wells Fargo & Company in the third quarter worth $147,165,000. Guerra Advisors Inc raised its holdings in shares of Wells Fargo & Company by 43.2% in the third quarter. Guerra Advisors Inc now owns 38,439 shares of the financial services provider's stock worth $3,222,000 after buying an additional 11,594 shares during the last quarter. AlphaQuest LLC raised its holdings in shares of Wells Fargo & Company by 1,121.0% in the third quarter. AlphaQuest LLC now owns 24,079 shares of the financial services provider's stock worth $2,018,000 after buying an additional 22,107 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Wells Fargo & Company by 52.7% in the third quarter. UMB Bank n.a. now owns 138,862 shares of the financial services provider's stock worth $11,639,000 after buying an additional 47,946 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

WFC has been the topic of a number of research reports. Evercore reiterated an "outperform" rating on shares of Wells Fargo & Company in a research note on Friday, March 6th. Keefe, Bruyette & Woods cut their price objective on shares of Wells Fargo & Company from $101.00 to $98.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 15th. Piper Sandler reiterated an "overweight" rating and issued a $94.00 price objective (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. Wall Street Zen upgraded shares of Wells Fargo & Company from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, KGI Securities lowered shares of Wells Fargo & Company to a "hold" rating in a research note on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $97.53.

Insider Activity

In other news, EVP Bridget E. Engle sold 30,000 shares of Wells Fargo & Company stock in a transaction dated 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 sale, the executive vice president owned 83,478 shares in the company, valued at $7,270,933.80. This trade represents a 26.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ellen R. Patterson sold 60,000 shares of the company's stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the transaction, the executive vice president owned 169,496 shares of the company's stock, valued at approximately $14,813,950.40. This trade represents a 26.14% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.14% of the stock is owned by company insiders.

Key Headlines Impacting Wells Fargo & Company

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

• Positive Sentiment: Analysts highlighted Wells Fargo’s cost-cutting efforts and improving efficiency metrics, saying they could help the bank move closer to its 17%-18% ROTCE target, which supports the long-term earnings story. WFC's Efficiency Story: Will Cost Cuts Lift ROTCE to Its Target Level?
• Positive Sentiment: Wall Street’s read on the $110 million discrimination settlement was constructive, with analysts still favoring the stock and insiders reportedly buying into the news, suggesting the legal issue may be more manageable than feared. Wall Street’s Verdict on Wells Fargo After the $110 Million Discrimination Settlement
• Positive Sentiment: Another market note said Wells Fargo has received an average brokerage recommendation of “Moderate Buy,” reinforcing the idea that sentiment remains favorable despite recent headlines. Wells Fargo & Company NYSE: WFC Given Average Recommendation of "Moderate Buy" by Brokerages
• Neutral Sentiment: Wells Fargo agreed to create a $100 million mortgage assistance fund as part of a discrimination lawsuit settlement, which removes some legal uncertainty but also underscores ongoing reputational and compliance costs. Wells Fargo Settlement Fund Reshapes Legal Overhang And Mortgage Growth Story
• Neutral Sentiment: Wells Fargo also trimmed Meta Platforms’ price target slightly while keeping an Overweight rating, a reminder that the bank’s research franchise remains active but this item is not directly tied to WFC’s own fundamentals. Wells Fargo Trims Meta Platforms Price Target to $765: Why the AI Infrastructure Bet Still Has Believers

Wells Fargo & Company Stock Up 0.1%

WFC stock opened at $75.90 on Friday. The firm has a market cap of $232.27 billion, a PE ratio of 11.71, a P/E/G ratio of 0.89 and a beta of 0.96. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. The firm's fifty day moving average is $78.92 and its 200 day moving average is $85.31. Wells Fargo & Company has a one year low of $71.89 and a one year high of $97.76.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, beating the consensus estimate of $1.58 by $0.02. The company had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The firm's revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business earned $1.39 earnings per share. On average, research analysts forecast that Wells Fargo & Company will post 6.82 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, May 8th. Wells Fargo & Company's dividend payout ratio (DPR) is currently 27.78%.

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.

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