Freemont Management S.A. Acquires 33,900 Shares of Wells Fargo & Company $WFC

Key Points

• Freemont Management S.A. significantly boosted its Wells Fargo stake in the first quarter, increasing holdings by 258.8% to 47,000 shares worth about $3.74 million.
• Several other institutional investors also increased or initiated positions in Wells Fargo (NYSE:WFC), and institutions now own about 75.9% of the company’s stock.
• Wells Fargo shares were trading around $87.52, while the bank recently paid a $0.45 quarterly dividend and carries an annualized yield of about 2.1%.

Freemont Management S.A. grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 258.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,000 shares of the financial services provider's stock after acquiring an additional 33,900 shares during the quarter. Freemont Management S.A.'s holdings in Wells Fargo & Company were worth $3,742,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in WFC. Diversified Trust Co. raised its holdings in Wells Fargo & Company by 59.7% in the 4th quarter. Diversified Trust Co. now owns 35,285 shares of the financial services provider's stock valued at $3,289,000 after buying an additional 13,196 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Wells Fargo & Company by 19.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 532,300 shares of the financial services provider's stock worth $49,610,000 after acquiring an additional 84,902 shares during the last quarter. Swiss Life Asset Management Ltd increased its position in Wells Fargo & Company by 4.2% in the 4th quarter. Swiss Life Asset Management Ltd now owns 350,567 shares of the financial services provider's stock valued at $32,673,000 after acquiring an additional 14,168 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Wells Fargo & Company by 4.4% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 412,511 shares of the financial services provider's stock valued at $38,446,000 after acquiring an additional 17,302 shares during the period. Finally, Winning Points Advisors LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at $3,384,000. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Trading Down 0.6%

NYSE:WFC opened at $87.52 on Friday. Wells Fargo & Company has a 52 week low of $72.78 and a 52 week high of $97.76. 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 firm's fifty day moving average is $81.44 and its 200-day moving average is $83.77. The firm has a market cap of $267.82 billion, a P/E ratio of 12.72, a P/E/G ratio of 0.97 and a beta of 0.92.

Wells Fargo & Company Dividend Announcement

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

Trending Headlines about 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

Analyst Ratings Changes

WFC has been the topic of a number of recent research reports. Bank of America lifted their price target 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. Barclays decreased their price objective on Wells Fargo & Company from $113.00 to $108.00 and set an "overweight" rating for the company in a report on Wednesday, April 15th. Phillip Securities raised Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, May 7th. JPMorgan Chase & Co. upped their price target on Wells Fargo & Company from $86.50 to $93.50 and gave the company a "neutral" rating in a research report on Monday, July 6th. Finally, Raymond James Financial reissued a "market perform" rating on shares of Wells Fargo & Company in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $98.50.

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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