Dorsey Wright & Associates Acquires 20,142 Shares of Wells Fargo & Company $WFC

Key Points

• Dorsey Wright & Associates boosted its stake in Wells Fargo by 27.6% in the first quarter, adding 20,142 shares to bring its total holdings to 93,034 shares worth about $7.4 million.
• Wells Fargo shares were down slightly, but the stock still trades near the middle of its 52-week range and the company remains a large, profitable bank with a market value of $267.8 billion.
• The bank’s latest earnings and outlook were generally positive: it beat quarterly EPS estimates, pays a 2.1% dividend yield, and analysts currently rate the stock a Moderate Buy with a consensus price target of $98.50.

Dorsey Wright & Associates increased its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 27.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,034 shares of the financial services provider's stock after buying an additional 20,142 shares during the period. Dorsey Wright & Associates' holdings in Wells Fargo & Company were worth $7,406,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Godfrey Financial Associates Inc. bought a new stake in Wells Fargo & Company during the fourth quarter valued at about $25,000. Miller Capital Partners Inc. purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $25,000. Navalign LLC bought a new position in Wells Fargo & Company in the fourth quarter worth about $26,000. Joseph Group Capital Management purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at about $28,000. Finally, Core Wealth Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Down 0.6%

Shares of WFC stock opened at $87.52 on Friday. Wells Fargo & Company has a fifty-two week low of $72.78 and a fifty-two week high of $97.76. The firm has a market capitalization of $267.82 billion, a PE ratio of 12.72, a P/E/G ratio of 0.98 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. The stock's 50-day simple moving average is $81.44 and its 200-day simple moving average is $83.77.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.02. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The company had revenue of $11.62 billion during the quarter, compared to the consensus estimate of $21.85 billion. During the same period in the previous year, the firm posted $1.39 earnings per share. The firm's quarterly revenue was up 6.4% on a year-over-year basis. Equities analysts expect that Wells Fargo & Company will post 7.12 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

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

Key Stories Impacting Wells Fargo & Company

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

• Positive Sentiment: Wells Fargo reported stronger-than-expected Q2 results, with adjusted EPS of $1.96 topping Wall Street’s $1.72 estimate, driven by higher fee income, investment banking activity and net interest income. Wells Fargo CEO Says America Is Still Spending Big—Even With Inflation Concerns
• Positive Sentiment: Wells Fargo was upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about its earnings outlook and adding another bullish signal for investors. Wells Fargo (WFC) Upgraded to Buy: Here's What You Should Know
• Positive Sentiment: Analysts remain constructive after the bank’s earnings beat, with industry commentary highlighting strong Q2 performance across major banks including Wells Fargo. Revving Up Returns: Big Banks Race Through the Rate Plateau (WFC)
• Neutral Sentiment: Wells Fargo also appeared in commentary noting that big bank earnings beat estimates, but some of the profit strength came from lower loan-loss reserves, which may be less repeatable going forward. Revving Up Returns: Big Banks Race Through the Rate Plateau (WFC)
• Neutral Sentiment: Wells Fargo’s housing-market index showed weaker homebuilder confidence in July, a modest macroeconomic headwind for the bank’s mortgage-related business. U.S. Homebuilder Confidence Unexpectedly Deteriorates In July

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. The Goldman Sachs Group cut their price target on shares of Wells Fargo & Company from $109.00 to $93.00 and set a "buy" rating on the stock in a report on Monday, March 23rd. Robert W. Baird boosted their target price on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a "neutral" rating in a research note on Wednesday. Barclays decreased their price target on Wells Fargo & Company from $113.00 to $108.00 and set an "overweight" rating for the company in a research note on Wednesday, April 15th. Bank of America boosted their price target on Wells Fargo & Company from $95.00 to $102.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Finally, Jefferies Financial Group began coverage on shares of Wells Fargo & Company in a research report on Thursday, March 26th. They issued a "buy" rating and a $100.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.50.

About Wells Fargo & Company

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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