Spectrum Asset Management Inc. NB CA Buys New Shares in Wells Fargo & Company $WFC

Key Points

• Spectrum Asset Management opened a new position in Wells Fargo during the first quarter, buying 414,694 shares worth about $33.0 million. The bank now makes up 10.5% of the firm’s portfolio, making it its largest holding.
• Wells Fargo said it completed the Fed’s 2026 stress test and plans to raise its quarterly dividend 11% to $0.50 per share, pending board approval. That would reinforce investor confidence in the bank’s capital strength and shareholder returns.
• Analysts remain generally constructive on the stock: Truist raised its price target to $94 and kept a Buy rating, while consensus data shows a Moderate Buy rating with an average target price of $98.24.

Spectrum Asset Management Inc. NB CA purchased a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 414,694 shares of the financial services provider's stock, valued at approximately $33,014,000. Wells Fargo & Company accounts for 10.5% of Spectrum Asset Management Inc. NB CA's portfolio, making the stock its largest holding.

Other large investors have also recently bought and sold shares of the company. Private Wealth Group LLC grew its stake in Wells Fargo & Company by 2.5% during the fourth quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider's stock worth $421,000 after purchasing an additional 108 shares during the period. Nixon Peabody Trust Co. lifted its stake in Wells Fargo & Company by 3.6% in the fourth quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider's stock valued at $312,000 after buying an additional 115 shares during the period. Simmons Bank lifted its stake in Wells Fargo & Company by 1.9% in the fourth quarter. Simmons Bank now owns 6,359 shares of the financial services provider's stock valued at $593,000 after buying an additional 116 shares during the period. Moss Adams Wealth Advisors LLC boosted its holdings in shares of Wells Fargo & Company by 1.0% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider's stock worth $1,123,000 after buying an additional 117 shares in the last quarter. Finally, Wood Tarver Financial Group LLC boosted its holdings in shares of Wells Fargo & Company by 1.6% during the 4th quarter. Wood Tarver Financial Group LLC now owns 7,754 shares of the financial services provider's stock worth $722,000 after buying an additional 120 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Key Wells Fargo & Company News

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

• Positive Sentiment: Wells Fargo completed the Fed’s 2026 stress test and said it intends to raise its quarterly dividend by 11% to $0.50 per share, pending board approval. That signals confidence in the bank’s capital strength and can support investor sentiment. Wells Fargo Completes 2026 Stress Test and Intends to Raise Dividend by 11% to $0.50
• Positive Sentiment: Truist Financial raised its price target on Wells Fargo to $94 from $90 and kept a Buy rating, implying further upside from current levels. Wells Fargo & Company had its price target raised by Truist Financial Corporation
• Positive Sentiment: Analyst previews ahead of Wells Fargo’s upcoming quarterly results suggest modest double-digit profit growth, which could reinforce the bank’s earnings momentum if delivered. Wells Fargo’s Quarterly Earnings Preview: What You Need to Know
• Positive Sentiment: Wells Fargo also flagged improved Anthropic coding performance, a small but constructive sign that its AI checks are seeing more autonomous execution from the startup. Wells Fargo Flags Anthropic Coding Improvement
• Neutral Sentiment: Broader bank news showed multiple large lenders passing the Fed stress test and planning dividend hikes and buybacks, which is supportive for the sector but not unique to Wells Fargo.

Wells Fargo & Company Stock Down 1.0%

Shares of NYSE:WFC opened at $83.87 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 market capitalization of $256.66 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. The business has a fifty day moving average price of $79.72 and a two-hundred day moving average price of $84.45. 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 EPS for the quarter, topping the consensus estimate of $1.58 by $0.02. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The business had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. During the same quarter in the previous year, the firm posted $1.39 earnings per share. The company's revenue for the quarter was up 6.4% on a year-over-year basis. Analysts forecast that Wells Fargo & Company will post 6.99 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company's payout ratio is currently 27.78%.

Analysts Set New Price Targets

Several research firms have weighed in on WFC. HSBC raised shares of Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $94.00 price target for the company in a research note on Wednesday, April 1st. Evercore reissued an "outperform" rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. Weiss Ratings restated a "buy (b)" rating on shares of Wells Fargo & Company in a research note on Monday, April 20th. Jefferies Financial Group assumed coverage on Wells Fargo & Company in a research report on Thursday, March 26th. They issued a "buy" rating and a $100.00 target price for the company. Finally, Morgan Stanley dropped their price target on Wells Fargo & Company from $108.00 to $100.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 31st. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $98.24.

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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