Dickmeyer Boyce Financial Management Inc. Makes New Investment in Wells Fargo & Company $WFC

Key Points

• Dickmeyer Boyce Financial Management initiated a new position in Wells Fargo during the first quarter, buying 15,220 shares valued at about $1.21 million.
• Institutional ownership of Wells Fargo remains very high, with 75.9% of shares held by institutions and hedge funds, and several large investors recently added to or expanded their stakes.
• Wall Street sentiment is broadly positive: analysts currently rate Wells Fargo Moderate Buy, with an average price target of $98.50, while the stock also offers a quarterly dividend of $0.45 per share.

Dickmeyer Boyce Financial Management Inc. purchased a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 15,220 shares of the financial services provider's stock, valued at approximately $1,212,000.

A number of other institutional investors have also made changes to their positions in WFC. Norges Bank acquired a new position in Wells Fargo & Company during the fourth quarter worth $4,512,563,000. Mawer Investment Management Ltd. increased its stake in Wells Fargo & Company by 177.7% during the 4th quarter. Mawer Investment Management Ltd. now owns 4,876,127 shares of the financial services provider's stock worth $454,455,000 after buying an additional 3,120,399 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Wells Fargo & Company by 13.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,625,070 shares of the financial services provider's stock valued at $1,922,257,000 after buying an additional 2,369,260 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $173,651,000. Finally, Capital Research Global Investors grew its stake in Wells Fargo & Company by 4.9% during the 4th quarter. Capital Research Global Investors now owns 37,421,387 shares of the financial services provider's stock worth $3,487,687,000 after purchasing an additional 1,760,484 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WFC. Morgan Stanley upped their target price 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. KGI Securities cut Wells Fargo & Company to a "hold" rating in a research report on Thursday, April 16th. Bank of America increased their price target on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods cut their price target on Wells Fargo & Company from $98.00 to $94.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 15th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Wells Fargo & Company in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and an average target price of $98.50.

Key Wells Fargo & Company News

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

• Positive Sentiment: Wells Fargo appointed Tom Nicholls to lead its Sports Investment Banking group, adding a specialist banker to expand advisory and deal-making capabilities in a niche area that could support fee growth. Wells Fargo (WFC) Appoints Tom Nicholls To Lead Sports Investment Banking
• Positive Sentiment: Several market articles noted that Wells Fargo is drawing increased investor attention and that Wall Street analysts remain broadly optimistic, which can help support sentiment around the stock. Wall Street Bulls Look Optimistic About Wells Fargo (WFC): Should You Buy?
• Positive Sentiment: Wells Fargo’s Innovation Incubator program highlighted the bank’s role in funding practical technology solutions for affordable housing and grid demand challenges, reinforcing its corporate and ESG-oriented brand. Innovation Incubator Program Drives Real-World Impact in Affordable Housing and Electrical Grid Demands
• Neutral Sentiment: MarketWatch highlighted a customer’s difficulty getting a larger credit limit for balance transfer debt, but this appears to be an isolated consumer complaint rather than a material company-level catalyst. I wanted to transfer $17,000 in credit-card debt. Why did Wells Fargo offer me only a $4,000 credit limit?

Wells Fargo & Company Stock Performance

NYSE WFC opened at $86.24 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 stock has a market capitalization of $263.91 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 0.94 and a beta of 0.92. The business's 50 day moving average is $82.46 and its two-hundred day moving average is $83.48.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 26.16%.

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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