Manning & Napier Advisors LLC Purchases New Position in Wells Fargo & Company $WFC

Key Points

• Manning & Napier Advisors acquired 201,407 Wells Fargo shares worth approximately $16.8 million during the second quarter. Institutional investors collectively own about 75.9% of the bank’s stock.
• Analysts maintain a generally positive view, with Wells Fargo holding a consensus “Moderate Buy” rating and an average price target of $98.61, compared with its opening price of $85.24.
• Wells Fargo exceeded quarterly earnings and revenue expectations, while raising its quarterly dividend from $0.45 to $0.50 per share. However, commercial real estate exposure remains a potential credit risk as the bank forecloses on a roughly $1.3 billion property portfolio.

Manning & Napier Advisors LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 201,407 shares of the financial services provider's stock, valued at approximately $16,819,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $4,512,563,000. Bank of New York Mellon Corp purchased a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at about $1,364,923,000. Deutsche Bank AG acquired a new position in Wells Fargo & Company during the 2nd quarter worth approximately $859,431,000. Pzena Investment Management LLC acquired a new position in Wells Fargo & Company during the 2nd quarter worth approximately $729,502,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Wells Fargo & Company in the 2nd quarter worth approximately $620,861,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on WFC. Morgan Stanley lifted 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 research note on Monday, June 29th. Raymond James Financial reaffirmed a "market perform" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. Truist Financial upped their price objective on shares of Wells Fargo & Company from $90.00 to $94.00 and gave the company a "buy" rating in a research report on Friday, June 26th. Bank of America lifted their target price on Wells Fargo & Company from $95.00 to $102.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Finally, 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 note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $98.61.

Wells Fargo & Company News Roundup

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

• Positive Sentiment: Profitability momentum: Wells Fargo has improved return on tangible common equity (ROTCE) from 8% in late 2020 to 14.6% at the end of 2025 and is targeting 17%–18%. Sustaining those gains could support a higher valuation as regulatory and restructuring burdens ease. Wells Fargo Hits 17%-18% ROTCE Target: Can It Sustain the Momentum?
• Positive Sentiment: Valuation appeal: An analyst comparison characterized WFC as offering a lower valuation and improving efficiency than PNC Financial, potentially giving Wells Fargo more upside if earnings remain strong. The bank’s latest reported quarter also exceeded consensus estimates for both earnings and revenue, with revenue up year over year. Wells Fargo vs. PNC Financial: Which Stock Offers Better Upside Now?
• Neutral Sentiment: Acquisition speculation: Wells Fargo has become a focus of broader banking-sector merger speculation, including possible interest involving Citizens Financial. No transaction has been announced, so the development provides limited immediate fundamental impact. Wells Fargo at center of attention as acquisition speculation rises in banking sector
• Neutral Sentiment: Community investments: New affordable-housing and financial-education commitments in North Dakota and Wyoming reinforce Wells Fargo’s community-banking initiatives but are unlikely to materially affect near-term earnings. Wells Fargo Expands Affordable Senior Housing and Financial Education With $1.2 Million in North Dakota
• Negative Sentiment: Commercial real estate exposure: Wells Fargo is foreclosing on Workspace Property Trust’s roughly $1.3 billion property portfolio after declining occupancy and asset values increased financial stress. The move may enable collateral recovery, but it also underscores potential losses and credit risks in the bank’s commercial real estate book. Wells Fargo Forecloses On $1.3B Workspace Property Trust Loan

Wells Fargo & Company Stock Up 0.5%

Shares of NYSE:WFC opened at $85.24 on Thursday. The company's fifty day moving average is $86.13 and its two-hundred day moving average is $82.75. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. Wells Fargo & Company has a 1-year low of $72.78 and a 1-year high of $97.76. The stock has a market capitalization of $257.77 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 0.92 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.73 by $0.23. The business had revenue of $22.62 billion during the quarter, compared to the consensus estimate of $21.86 billion. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.60 EPS. Equities analysts anticipate that Wells Fargo & Company will post 7.26 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be given a dividend of $0.50 per share. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 7th. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. Wells Fargo & Company's payout ratio is presently 29.07%.

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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