Mediolanum International Funds Ltd Has $36.11 Million Stock Position in Wells Fargo & Company $WFC

Key Points

• Mediolanum International Funds Ltd cut its Wells Fargo stake by 28.6% in the first quarter, but still held 470,180 shares valued at about $36.11 million.
• Other institutions also adjusted positions in WFC, and hedge funds now own 75.9% of the company’s shares, indicating continued heavy institutional interest.
• Analysts remain broadly positive on Wells Fargo, with a Moderate Buy consensus and average price target of $98.50; the bank also recently beat Q2 earnings expectations and pays a quarterly dividend yielding about 2.1%.

Mediolanum International Funds Ltd lowered its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 28.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 470,180 shares of the financial services provider's stock after selling 188,681 shares during the quarter. Mediolanum International Funds Ltd's holdings in Wells Fargo & Company were worth $36,110,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WFC. Brighton Jones LLC increased its holdings in 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 worth $4,652,000 after purchasing an additional 25,436 shares in the last quarter. Jump Financial LLC lifted its holdings in shares of Wells Fargo & Company by 12.9% in the second quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider's stock valued at $1,835,000 after purchasing an additional 2,615 shares in the last quarter. Main Street Financial Solutions LLC boosted its position in shares of Wells Fargo & Company by 111.0% during the second 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 during the period. Vivaldi Capital Management LP boosted its position in shares of 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 worth $259,000 after buying an additional 165 shares during the period. Finally, Diversify Advisory Services LLC raised its position in Wells Fargo & Company by 51.2% in the 2nd quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider's stock valued at $2,044,000 after buying an additional 8,714 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on WFC shares. KGI Securities cut Wells Fargo & Company to a "hold" rating in a research note on Thursday, April 16th. Bank of America lifted their price objective on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Piper Sandler reissued an "overweight" rating and issued a $94.00 price objective (down from $100.00) on shares of Wells Fargo & Company in a research report on Wednesday, April 15th. The Goldman Sachs Group reduced their target price on shares of Wells Fargo & Company from $109.00 to $93.00 and set a "buy" rating for the company in a report on Monday, March 23rd. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Wells Fargo & Company from $98.00 to $94.00 and set a "market perform" rating for the company in a research report on Wednesday. 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, Wells Fargo & Company has a consensus rating of "Moderate Buy" and a consensus price target of $98.50.

Wells Fargo & Company News Roundup

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

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $87.52 on Friday. 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 has a 50 day moving average price of $81.44 and a 200 day moving average price of $83.77. The stock has a market capitalization of $267.82 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 0.97 and a beta of 0.92. Wells Fargo & Company has a 52 week low of $72.78 and a 52 week high of $97.76.

Wells Fargo & Company Announces Dividend

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

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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