CWA Asset Management Group LLC Sells 58,454 Shares of Wells Fargo & Company $WFC

Key Points

• CWA Asset Management Group reduced its Wells Fargo stake by 80.1%, selling 58,454 shares and retaining 14,499 shares worth approximately $1.2 million. Institutional investors collectively own 75.9% of the company.
• Analysts maintain a generally positive outlook, with Wells Fargo holding a consensus “Moderate Buy” rating and an average price target of $98.61.
• Wells Fargo beat quarterly expectations with $1.96 in earnings per share and $22.62 billion in revenue, while raising its quarterly dividend from $0.45 to $0.50 per share.

CWA Asset Management Group LLC cut its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 80.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,499 shares of the financial services provider's stock after selling 58,454 shares during the period. CWA Asset Management Group LLC's holdings in Wells Fargo & Company were worth $1,198,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in Wells Fargo & Company by 19.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 532,300 shares of the financial services provider's stock valued at $49,610,000 after buying an additional 84,902 shares during the last quarter. Swiss Life Asset Management Ltd lifted its holdings in Wells Fargo & Company by 4.2% during the 4th quarter. Swiss Life Asset Management Ltd now owns 350,567 shares of the financial services provider's stock worth $32,673,000 after buying an additional 14,168 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Wells Fargo & Company by 4.4% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 412,511 shares of the financial services provider's stock worth $38,446,000 after buying an additional 17,302 shares during the last quarter. Norges Bank acquired a new position in shares of Wells Fargo & Company in the 4th quarter worth approximately $4,512,563,000. Finally, Winning Points Advisors LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter worth approximately $3,384,000. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WFC. UBS Group dropped their price target on Wells Fargo & Company from $105.00 to $104.00 and set a "buy" rating on the stock in a research report on Tuesday, July 7th. Bank of America lifted their price objective on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Keefe, Bruyette & Woods lowered their target price on shares of Wells Fargo & Company from $98.00 to $94.00 and set a "market perform" rating for the company in a research note on Wednesday, July 15th. Truist Financial increased their target price on shares of Wells Fargo & Company from $90.00 to $94.00 and gave the stock a "buy" rating in a report on Friday, June 26th. Finally, KGI Securities cut shares of Wells Fargo & Company to a "hold" rating in a report on Thursday, April 16th. Two equities research 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 stock. According to MarketBeat.com, the stock currently has a consensus 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 launched tokenized deposits for corporate and commercial customers, enabling 24/7 blockchain-based settlement while keeping funds within the insured banking system. The service could improve transaction speed, strengthen client relationships and create future payment-related revenue opportunities. Is Wells Fargo’s Tokenized Deposit Push Reshaping Its Post-Cap Investment Story (WFC)?
• Positive Sentiment: The tokenized-deposit initiative was presented as part of a wider effort to pair balance-sheet strength with new digital infrastructure. Investors may view the move as evidence that Wells Fargo is investing more aggressively in growth and modernizing its commercial-banking platform. Wells Fargo (WFC) Bets On Blockchain, But Can The Rally Continue?
• Neutral Sentiment: Wells Fargo issued callable, unsecured senior notes with maturities ranging from 2029 to 2051 and announced perpetual, non-cumulative depositary shares. The transactions can support funding and capital flexibility, but they also add financing obligations and do not immediately establish a material earnings benefit. Is Wells Fargo’s Tokenized Deposit Push Reshaping Its Post-Cap Investment Story (WFC)?
• Neutral Sentiment: Separate Wells Fargo commentary on NVIDIA’s artificial-intelligence infrastructure financing and Microsoft’s position as AI costs decline reflects the bank’s broader technology-sector research, but it does not materially change Wells Fargo’s own earnings outlook. Nvidia Is Going Beyond GPUs in the AI Boom, Wells Fargo Says

Wells Fargo & Company Trading Up 1.7%

Wells Fargo & Company stock opened at $88.96 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.09. The firm has a 50-day moving average price of $85.47 and a two-hundred day moving average price of $83.05. The firm has a market capitalization of $269.02 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 0.95 and a beta of 0.92. Wells Fargo & Company has a 52-week low of $72.78 and a 52-week high of $97.76.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.73 by $0.23. The company 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%. Wells Fargo & Company's revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.60 earnings per share. Sell-side analysts expect that Wells Fargo & Company will post 7.26 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be issued a $0.50 dividend. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 7th. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. Wells Fargo & Company's dividend payout ratio is currently 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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