Wells Fargo & Company $WFC Shares Sold by Canoe Financial LP

Key Points

• Canoe Financial LP cut its Wells Fargo stake by 51.1% in the first quarter, selling more than 1.4 million shares and leaving it with 1.37 million shares worth about $109.1 million.
• Wells Fargo reported stronger-than-expected quarterly earnings, posting $1.60 per share versus the $1.58 estimate, while revenue rose 6.4% year over year to $11.62 billion.
• Analysts remain broadly constructive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $98.24; recent reports also highlighted a potential 11% dividend increase after the bank passed the Fed stress test.

Canoe Financial LP lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 51.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,370,881 shares of the financial services provider's stock after selling 1,433,654 shares during the quarter. Wells Fargo & Company comprises about 1.5% of Canoe Financial LP's holdings, making the stock its 29th biggest holding. Canoe Financial LP's holdings in Wells Fargo & Company were worth $109,136,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wells Fargo & Company Stock Up 0.0%

WFC opened at $83.87 on Monday. Wells Fargo & Company has a 52 week low of $72.78 and a 52 week high of $97.76. The business has a 50 day moving average price of $79.72 and a two-hundred day moving average price of $84.41. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12. The company has a market cap of $256.66 billion, a PE ratio of 12.94, a P/E/G ratio of 0.96 and a beta of 0.93.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.02. The company had revenue of $11.62 billion for the quarter, compared to the consensus estimate of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The company's revenue was up 6.4% on a year-over-year basis. During the same period last year, the business posted $1.39 EPS. As a group, research analysts anticipate that Wells Fargo & Company will post 6.99 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. Wells Fargo & Company's dividend payout ratio (DPR) is currently 27.78%.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of research reports. Jefferies Financial Group assumed coverage on Wells Fargo & Company in a research note on Thursday, March 26th. They set a "buy" rating and a $100.00 price target on the stock. Truist Financial boosted their price objective on Wells Fargo & Company from $90.00 to $94.00 and gave the company a "buy" rating in a research note on Friday. Morgan Stanley decreased their price objective on Wells Fargo & Company from $108.00 to $100.00 and set an "equal weight" rating for the company in a report on Tuesday, March 31st. Wall Street Zen raised Wells Fargo & Company from a "sell" rating to a "hold" rating in a report on Sunday, June 14th. Finally, Evercore restated an "outperform" rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $98.24.

Wells Fargo & Company News Roundup

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 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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