Brookstone Capital Management Boosts Stock Holdings in Wells Fargo & Company $WFC

Key Points

• Brookstone Capital Management increased its Wells Fargo stake by 240% in the second quarter, adding 128,022 shares for a total holding of 181,375 shares valued at approximately $14.99 million.
• Analysts maintain a generally positive outlook, with Wells Fargo receiving a consensus “Moderate Buy” rating and an average price target of $98.61; institutional investors and hedge funds own 75.9% of the stock.
• Wells Fargo exceeded quarterly earnings and revenue expectations, while raising its quarterly dividend from $0.45 to $0.50 per share. Investors are also watching potential asset-cap removal, net-interest-income growth and new tokenized-deposit services.

Brookstone Capital Management increased its stake in Wells Fargo & Company (NYSE:WFC) by 240.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,375 shares of the financial services provider's stock after acquiring an additional 128,022 shares during the period. Brookstone Capital Management's holdings in Wells Fargo & Company were worth $14,989,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Godfrey Financial Associates Inc. purchased a new stake in Wells Fargo & Company during the 4th quarter worth about $25,000. Miller Capital Partners Inc. purchased a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $25,000. Navalign LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth about $26,000. Joseph Group Capital Management acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth about $28,000. Finally, Phillip James Consulting Co. purchased a new stake in shares of Wells Fargo & Company during the first quarter worth approximately $28,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the stock an "equal weight" rating in a research note on Monday, June 29th. Truist Financial increased their price objective on shares of Wells Fargo & Company from $90.00 to $94.00 and gave the company a "buy" rating in a research report on Friday, June 26th. JPMorgan Chase & Co. raised their price objective on shares of Wells Fargo & Company from $93.50 to $95.50 and gave the company a "neutral" rating in a report on Wednesday, July 29th. UBS Group decreased their price objective on shares of Wells Fargo & Company from $105.00 to $104.00 and set a "buy" rating for the company in a research report on Tuesday, July 7th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Wells Fargo & Company in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $98.61.

Key Headlines Impacting Wells Fargo & Company

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

• Positive Sentiment: Investors have been rotating from high-flying artificial-intelligence stocks into financial shares, creating broader momentum for banks such as Wells Fargo. Risk-On Momentum in Bank Stocks Echoes Aftermath of Dot-Com Bust
• Positive Sentiment: Wells Fargo’s investment case is strengthened by the expected removal of its asset cap, potential net-interest-income growth and shareholder capital returns. The stock has gained 20.5% over three months, though investors are evaluating whether that momentum can continue. WFC Stock Gains 20.5% in 3 Months: Buy, Hold or Sell the Stock Now?
• Positive Sentiment: The bank’s tokenized-deposit launch for corporate and commercial clients could expand payment and settlement capabilities, while new debt and preferred-share offerings support its broader post-asset-cap investment strategy. Is Wells Fargo’s Tokenized Deposit Push Reshaping Its Post-Cap Investment Story?

Wells Fargo & Company Stock Performance

NYSE WFC opened at $88.13 on Friday. The company has a fifty day moving average of $85.60 and a two-hundred day moving average of $83.06. The company has a market capitalization of $266.51 billion, a PE ratio of 12.81, a P/E/G ratio of 0.97 and a beta of 0.92. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year high of $97.76. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.73 by $0.23. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The business had revenue of $22.62 billion for the quarter, compared to analysts' expectations of $21.86 billion. During the same quarter in the previous year, the firm earned $1.60 earnings per share. The business's revenue was up 8.6% compared to the same quarter last year. As a group, analysts expect that Wells Fargo & Company will post 7.26 earnings per share 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 paid a dividend of $0.50 per share. The ex-dividend date is Friday, August 7th. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.45. Wells Fargo & Company's dividend payout ratio (DPR) is 29.07%.

Wells Fargo & 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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