Myriad Asset Management Advisors LLC Takes Position in Wells Fargo & Company $WFC

Key Points

• Myriad Asset Management Advisors initiated a new position in Wells Fargo, buying 26,749 shares valued at about $2.49 million in the fourth quarter.
• Institutional ownership of Wells Fargo remains high at 75.9%, with several large investors adding to their stakes, including Norges Bank and Capital Research Global Investors.
• Wells Fargo reported better-than-expected Q1 earnings of $1.60 per share and maintained a 2.2% dividend yield, while analysts currently rate the stock a Moderate Buy with a consensus target of $97.53.

Myriad Asset Management Advisors LLC bought a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 26,749 shares of the financial services provider's stock, valued at approximately $2,493,000.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $4,512,563,000. Capital Research Global Investors increased its holdings in shares of Wells Fargo & Company by 4.9% in the fourth quarter. Capital Research Global Investors now owns 37,421,387 shares of the financial services provider's stock valued at $3,487,687,000 after purchasing an additional 1,760,484 shares during the period. Legal & General Group Plc increased its holdings in shares of Wells Fargo & Company by 0.9% in the fourth quarter. Legal & General Group Plc now owns 21,197,423 shares of the financial services provider's stock valued at $1,975,600,000 after purchasing an additional 188,186 shares during the period. Boston Partners increased its holdings in shares of Wells Fargo & Company by 1.9% in the third quarter. Boston Partners now owns 9,128,470 shares of the financial services provider's stock valued at $763,675,000 after purchasing an additional 174,350 shares during the period. Finally, Davis Selected Advisers increased its holdings in shares of Wells Fargo & Company by 6.1% in the fourth quarter. Davis Selected Advisers now owns 8,258,031 shares of the financial services provider's stock valued at $769,649,000 after purchasing an additional 471,979 shares during the period. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Trading Down 0.0%

Shares of WFC stock opened at $81.98 on Thursday. The business's fifty day moving average price is $79.44 and its 200 day moving average price is $84.67. Wells Fargo & Company has a 1-year low of $71.93 and a 1-year high of $97.76. The firm has a market capitalization of $250.88 billion, a PE ratio of 12.65, a P/E/G ratio of 0.96 and a beta of 0.93. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.90 and a quick ratio of 0.90.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.02. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The firm had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. During the same quarter in the prior year, the company posted $1.39 earnings per share. Wells Fargo & Company's quarterly revenue was up 6.4% on a year-over-year basis. As a group, sell-side analysts forecast that Wells Fargo & Company will post 6.84 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, May 8th. Wells Fargo & Company's dividend payout ratio is currently 27.78%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WFC. Weiss Ratings reissued a "buy (b)" rating on shares of Wells Fargo & Company in a report on Monday, April 20th. Truist Financial dropped their target price on Wells Fargo & Company from $98.00 to $94.00 and set a "buy" rating on the stock in a report on Tuesday, March 17th. HSBC raised Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $94.00 target price on the stock in a report on Wednesday, April 1st. Piper Sandler reissued an "overweight" rating and issued a $94.00 target price (down from $100.00) on shares of Wells Fargo & Company in a report on Wednesday, April 15th. Finally, Barclays dropped their price objective on Wells Fargo & Company from $113.00 to $108.00 and set an "overweight" rating on the stock in a report on Wednesday, April 15th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of "Moderate Buy" and a consensus price target of $97.53.

Key Stories Impacting Wells Fargo & Company

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

• Positive Sentiment: Wells Fargo’s CFO said net interest income should step up in the current quarter and reaffirmed the bank’s roughly $50 billion full-year 2026 NII target, signaling stronger underlying earnings power. Reuters: Wells Fargo CFO signals 'step up' in interest income in second quarter
• Positive Sentiment: Wells Fargo Advisors’ FiNet unit added a $650 million advisory team from Stifel, reinforcing momentum in wealth management and showing the firm can still attract assets and advisors. Yahoo Finance: Wells Fargo’s FiNet Recruits $650 Million Team From Stifel
• Positive Sentiment: The bank also announced a $1.2 million community wealth grant, which supports its public-facing ESG and community investment narrative. Yahoo Finance: Wells Fargo Grant Highlights Community Focus And Potential Valuation Upside
• Neutral Sentiment: Wells Fargo’s presentation at the Morgan Stanley U.S. Financials Conference kept management in the spotlight, but it did not appear to deliver a major new catalyst on its own. Seeking Alpha: Wells Fargo & Company Presents at Morgan Stanley US Financials Conference 2026 Transcript
• Negative Sentiment: The Justice Department reportedly subpoenaed Wells Fargo as part of a widening investigation into alleged politically motivated debanking, which could add legal and reputational pressure. PYMNTS: Feds Subpoena Wall Street Giants in Widening Debanking Investigation

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.