Peak Asset Management LLC Purchases New Position in Wells Fargo & Company $WFC

Key Points

• Peak Asset Management acquired 29,178 Wells Fargo shares during the second quarter, valued at approximately $2.4 million. Institutional investors collectively own 75.9% of the company.
• Wells Fargo reported quarterly EPS of $1.96, exceeding the $1.73 consensus estimate, while revenue reached $22.62 billion and increased 8.6% year over year.
• The bank raised its quarterly dividend from $0.45 to $0.50 per share, or $2.00 annualized. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $98.61.

Peak Asset Management LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 29,178 shares of the financial services provider's stock, valued at approximately $2,411,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Godfrey Financial Associates Inc. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at $25,000. Miller Capital Partners Inc. bought a new position in Wells Fargo & Company during the 4th quarter valued at about $25,000. Navalign LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $26,000. Joseph Group Capital Management bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $28,000. Finally, Core Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $29,000. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Trading Up 0.5%

Shares of WFC stock opened at $85.24 on Thursday. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year high of $97.76. The firm has a fifty day moving average price of $86.13 and a 200-day moving average price of $82.75. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $257.77 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 0.92 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data 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. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The firm had revenue of $22.62 billion during the quarter, compared to analyst estimates of $21.86 billion. During the same period in the prior year, the business posted $1.60 EPS. Wells Fargo & Company's revenue was up 8.6% on a year-over-year basis. As a group, equities analysts predict that Wells Fargo & Company will post 7.26 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Wells Fargo & Company from a "sell" rating to a "hold" rating in a report on Sunday, June 14th. Weiss Ratings reissued a "buy (b)" rating on shares of Wells Fargo & Company in a report on Friday, July 17th. Phillip Securities raised Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, May 7th. Truist Financial upped their price objective on Wells Fargo & Company from $90.00 to $94.00 and gave the company a "buy" rating in a research report on Friday, June 26th. Finally, Morgan Stanley raised their target price on Wells Fargo & Company from $97.00 to $102.00 and gave the stock an "equal weight" rating in a research report on Monday, June 29th. Two 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $98.61.

Trending Headlines about Wells Fargo & Company

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 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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