OFI Invest Asset Management Has $17.70 Million Stake in Wells Fargo & Company $WFC

Key Points

• OFI Invest Asset Management reduced its Wells Fargo stake by 8.8% in the second quarter, selling 20,570 shares and retaining 214,221 shares worth approximately $17.7 million. Institutional investors and hedge funds collectively own 75.9% of WFC.
• Wells Fargo reported better-than-expected quarterly results, with EPS of $1.96 versus the $1.73 consensus and revenue of $22.62 billion, up 8.6% year over year.
• The bank raised its quarterly dividend to $0.50 per share from $0.45, implying a $2.00 annualized payout and a 2.3% yield. Analysts have a “Moderate Buy” consensus rating and an average price target of $98.61.

OFI Invest Asset Management decreased its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 8.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 214,221 shares of the financial services provider's stock after selling 20,570 shares during the quarter. OFI Invest Asset Management's holdings in Wells Fargo & Company were worth $17,703,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in WFC. Godfrey Financial Associates Inc. bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $25,000. Miller Capital Partners Inc. bought a new position in Wells Fargo & Company during the fourth quarter valued at about $25,000. Navalign LLC bought a new position in Wells Fargo & Company during the fourth quarter valued at about $26,000. Joseph Group Capital Management acquired a new position in Wells Fargo & Company in the 4th quarter valued at approximately $28,000. Finally, Phillip James Consulting Co. acquired a new position in Wells Fargo & Company in the 1st quarter valued at approximately $28,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Trading Up 0.7%

Shares of WFC opened at $88.74 on Friday. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year 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 has a 50 day simple moving average of $85.73 and a 200-day simple moving average of $83.10. The stock has a market cap of $268.34 billion, a PE ratio of 12.90, a PEG ratio of 0.97 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, topping the consensus estimate 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 return on equity of 13.85% and a net margin of 17.55%.Wells Fargo & Company's revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $1.60 EPS. On average, sell-side analysts predict that Wells Fargo & Company will post 7.26 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be issued a $0.50 dividend. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, August 7th. Wells Fargo & Company's dividend payout ratio (DPR) is 29.07%.

Wells Fargo & Company News Roundup

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

• Positive Sentiment: Wells Fargo declared quarterly cash dividends on six series of preferred stock. The announcement provides clarity for income-focused investors and signals that the bank continues to support its preferred-capital structure. Wells Fargo & Company Declares Cash Dividends on Preferred Stock
• Positive Sentiment: Recent analysis suggests WFC could be about 10% undervalued despite strong gains over the past three months, supporting the view that valuation may still leave room for additional appreciation. Wells Fargo Could Be 10% Undervalued After Preferred Dividend Declaration
• Positive Sentiment: Investors have been rotating from weaker-performing artificial-intelligence stocks into financials, creating a favorable sector backdrop for Wells Fargo and other banks. Risk-On Momentum in Bank Stocks Echoes Aftermath of Dot-Com Bust
• Positive Sentiment: Wells Fargo’s latest earnings exceeded expectations, with $1.96 in earnings per share and $22.62 billion in revenue, while revenue grew 8.6% year over year. Analysts continue to focus on potential net-interest-income growth, asset-cap removal and increased capital returns. WFC Stock Gains 20.5% in 3 Months: Buy, Hold or Sell the Stock Now?
• Neutral Sentiment: The bank is expanding its post-asset-cap strategy through tokenized deposits for corporate clients and new long-term debt and depositary-share offerings. The initiatives could improve payment capabilities and investment capacity, but their financial impact remains uncertain. Is Wells Fargo’s Tokenized Deposit Push Reshaping Its Post-Cap Investment Story?
• Negative Sentiment: After a roughly 20% three-month advance, valuation and profit-taking risks could limit near-term upside, making investors more sensitive to execution on growth and regulatory milestones. Why Is Wells Fargo Up Since Last Earnings Report?

Wall Street Analyst Weigh In

WFC has been the topic of several recent research reports. Wall Street Zen raised Wells Fargo & Company from a "sell" rating to a "hold" rating in a report on Sunday, June 14th. Truist Financial upped their target price on Wells Fargo & Company from $90.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, June 26th. Keefe, Bruyette & Woods cut their target price on Wells Fargo & Company from $98.00 to $94.00 and set a "market perform" rating for the company in a research note on Wednesday, July 15th. UBS Group decreased their price target on shares of Wells Fargo & Company from $105.00 to $104.00 and set a "buy" rating on the stock in a research note on Tuesday, July 7th. Finally, Robert W. Baird boosted their price target on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of "Moderate Buy" and an average target price of $98.61.

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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