Gibbs Wealth Management Acquires 13,514 Shares of Wells Fargo & Company $WFC

Key Points

• Gibbs Wealth Management increased its stake in Wells Fargo by 74.8% in the first quarter, buying 13,514 additional shares and bringing its total holdings to 31,592 shares worth about $2.52 million.
• Institutional ownership of Wells Fargo remains high, with 75.9% of the stock held by hedge funds and other institutional investors, and several other firms also boosted their positions recently.
• Wall Street sentiment is still broadly positive: analysts have a Moderate Buy consensus on WFC, with an average price target of $98.50, while the stock recently traded around $86.24.

Gibbs Wealth Management boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 74.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,592 shares of the financial services provider's stock after buying an additional 13,514 shares during the quarter. Gibbs Wealth Management's holdings in Wells Fargo & Company were worth $2,515,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WFC. Brighton Jones LLC lifted its stake in shares of Wells Fargo & Company by 62.3% during the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider's stock valued at $4,652,000 after buying an additional 25,436 shares in the last quarter. Jump Financial LLC increased its stake in Wells Fargo & Company by 12.9% in the 2nd quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider's stock worth $1,835,000 after buying an additional 2,615 shares in the last quarter. Main Street Financial Solutions LLC increased its stake in Wells Fargo & Company by 111.0% in the 2nd quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider's stock worth $1,122,000 after buying an additional 7,368 shares in the last quarter. Vivaldi Capital Management LP raised its holdings in Wells Fargo & Company by 5.4% during the second quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider's stock valued at $259,000 after acquiring an additional 165 shares during the period. Finally, Diversify Advisory Services LLC raised its holdings in Wells Fargo & Company by 51.2% during the second quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider's stock valued at $2,044,000 after acquiring an additional 8,714 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of recent analyst reports. UBS Group dropped their price objective on Wells Fargo & Company from $105.00 to $104.00 and set a "buy" rating for the company in a research note on Tuesday, July 7th. Phillip Securities raised Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, May 7th. 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 report on Tuesday, July 7th. Weiss Ratings restated a "buy (b)" rating on shares of Wells Fargo & Company in a research note on Friday, July 17th. Finally, Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the company an "equal weight" rating in a report on Monday, June 29th. 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $98.50.

More 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 Trading Down 0.2%

Shares of WFC stock opened at $86.24 on Friday. Wells Fargo & Company has a 12-month low of $72.78 and a 12-month high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. The stock's 50-day moving average price is $82.46 and its 200-day moving average price is $83.48. The stock has a market capitalization of $263.91 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 0.94 and a beta of 0.92.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were issued 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%.

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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