Summit Global Investments Buys New Stake in Wells Fargo & Company $WFC

Key Points

• Summit Global Investments acquired 13,886 Wells Fargo shares in the second quarter, valued at approximately $1.15 million. Institutional investors and hedge funds collectively own 75.9% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $98.61, compared with the stock’s reported opening price of $83.69.
• Wells Fargo exceeded quarterly earnings and revenue expectations, reporting $1.96 in EPS and $22.62 billion in revenue, while raising its quarterly dividend from $0.45 to $0.50 per share.

Summit Global Investments purchased a new position in Wells Fargo & Company (NYSE:WFC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,886 shares of the financial services provider's stock, valued at approximately $1,148,000.

Other institutional investors also recently added to or reduced their stakes in the company. Godfrey Financial Associates Inc. acquired a new position in shares of Wells Fargo & Company in the 4th quarter worth approximately $25,000. Miller Capital Partners Inc. acquired a new position in Wells Fargo & Company during the fourth quarter worth $25,000. Navalign LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at $26,000. Joseph Group Capital Management acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $28,000. Finally, Phillip James Consulting Co. acquired a new stake in shares of Wells Fargo & Company in the 1st quarter valued at $28,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WFC. Truist Financial upped their price objective on shares of Wells Fargo & Company from $90.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, June 26th. Morgan Stanley boosted their target price on Wells Fargo & Company from $97.00 to $102.00 and gave the stock an "equal weight" rating in a report on Monday, June 29th. UBS Group decreased their price target on Wells Fargo & Company from $105.00 to $104.00 and set a "buy" rating on the stock in a research report on Tuesday, July 7th. Raymond James Financial reaffirmed a "market perform" rating on shares of Wells Fargo & Company in a report on Tuesday, July 14th. Finally, Keefe, Bruyette & Woods cut their price objective on Wells Fargo & Company from $98.00 to $94.00 and set a "market perform" rating for the company in a research 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 given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $98.61.

Key Wells Fargo & Company News

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

• Positive Sentiment: Wells Fargo established a new Series HH preferred stock, expanding its capital-raising options. A related analysis highlights the preferred shares’ roughly 6.6% yield, which may appeal to income-focused investors and support interest in Wells Fargo’s securities. Skip The CDs For Wells Fargo's 6.6% Yielding Preferred Share Wells Fargo Establishes New Series HH Preferred Stock
• Positive Sentiment: Valuation commentary says WFC still appears discounted to an intrinsic-value estimate after generating a 126.5% total return over three years. That suggests potential long-term upside, although the size of the discount may be narrowing. Wells Fargo Stock Looks Cheap On Fair Value But Full On Earnings
• Neutral Sentiment: Recent fundamental performance remains solid: Wells Fargo’s latest reported quarter exceeded earnings and revenue estimates, with year-over-year revenue growth. However, investors may be weighing those results against the stock’s already substantial gains.
• Negative Sentiment: Wells Fargo has lagged some major-bank peers in 2026, particularly BNY Mellon, highlighting concerns that its business mix may be less favorable in the current market environment. Which Big Bank Stock Has Dominated in 2026
• Negative Sentiment: Commentary noting that WFC looks attractive on fair value but “full” on earnings suggests investors may be taking profits or demanding stronger catalysts before pushing the stock higher. Separate market coverage also recorded a recent decline while the broader market improved, indicating relative selling pressure. Wells Fargo Stock Declines While Market Improves

Wells Fargo & Company Stock Down 2.6%

Shares of NYSE:WFC opened at $83.69 on Friday. 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 stock has a market cap of $253.08 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 0.93 and a beta of 0.92. The company has a 50 day moving average of $86.08 and a 200-day moving average of $82.97. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $22.62 billion during the quarter, compared to the consensus estimate of $21.86 billion. During the same quarter in the prior year, the company posted $1.60 earnings per share. The firm's revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts forecast that Wells Fargo & Company will post 7.26 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, August 7th. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.45. Wells Fargo & Company's dividend payout ratio is presently 29.07%.

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.

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