Wells Fargo & Company $WFC Shares Sold by GTS Securities LLC

Key Points

• GTS Securities cut its Wells Fargo stake by 61.2% in the second quarter, selling 14,472 shares and retaining 9,163 shares valued at approximately $757,000. Institutional investors and hedge funds collectively own 75.9% of WFC.
• Wells Fargo reported quarterly EPS of $1.96, exceeding the $1.73 consensus estimate, while revenue rose 8.6% year over year to $22.62 billion. The company also raised its quarterly dividend to $0.50 per share, equivalent to a 2.3% annual yield.
• The bank is expanding its wealth-management business by seeking hundreds of independent financial advisers following an approximately $1.5 billion overhaul. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $98.61.

GTS Securities LLC lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 61.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,163 shares of the financial services provider's stock after selling 14,472 shares during the quarter. GTS Securities LLC's holdings in Wells Fargo & Company were worth $757,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bryn Mawr Trust Advisors LLC purchased a new position in shares of Wells Fargo & Company in the second quarter valued at approximately $658,000. Swiss Life Asset Management Ltd increased its position in shares of Wells Fargo & Company by 4.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 350,567 shares of the financial services provider's stock worth $32,673,000 after purchasing an additional 14,168 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Wells Fargo & Company by 4.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 412,511 shares of the financial services provider's stock worth $38,446,000 after purchasing an additional 17,302 shares in the last quarter. Norges Bank acquired a new position in Wells Fargo & Company in the 4th quarter valued at $4,512,563,000. Finally, Winning Points Advisors LLC purchased a new position in Wells Fargo & Company in the 4th quarter valued at $3,384,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company News Summary

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

• Positive Sentiment: Wells Fargo is reportedly seeking to recruit hundreds of independent financial advisers, expanding its Wealth & Investment Management division and targeting affluent and high-net-worth clients. The initiative builds on a multiyear overhaul and could support fee-based revenue, asset growth and deeper customer relationships. WFC Broadens Wealth Focus: Can Its Multi-Year Revamp Drive Growth?
• Positive Sentiment: The wealth-management push follows an approximately $1.5 billion revamp and emphasizes independent advisers who can use Wells Fargo’s platform and infrastructure. Successful hiring and retention could improve the division’s long-term growth prospects, although benefits will take time to materialize. Wells Fargo Steps Up Wealth Hiring After $1.5 Billion Revamp
• Neutral Sentiment: Analysts collectively maintain a “Moderate Buy” recommendation for Wells Fargo. The rating indicates generally constructive sentiment, but it does not represent a new earnings forecast or a clearly identifiable catalyst. Wells Fargo Given Average Recommendation of Moderate Buy by Analysts
• Neutral Sentiment: A market-focused report noted that WFC advanced even as the broader market declined, suggesting relative investor support. The article did not identify a major new earnings announcement, guidance change or regulatory development behind the move. Wells Fargo Gains As Market Dips: What You Should Know

Wells Fargo & Company Stock Down 0.1%

Shares of NYSE:WFC opened at $86.62 on Monday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.09. The business has a fifty day moving average of $86.27 and a two-hundred day moving average of $82.63. The stock has a market cap of $261.94 billion, a P/E ratio of 12.59, a PEG ratio of 0.94 and a beta of 0.92. Wells Fargo & Company has a 52-week low of $72.78 and a 52-week high of $97.76.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly 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 for the quarter, compared to analyst estimates of $21.86 billion. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The company's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.60 EPS. On average, research analysts expect that Wells Fargo & Company will post 7.26 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

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

Analysts Set New Price Targets

WFC has been the topic of several recent research reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Wells Fargo & Company in a research note on Friday, July 17th. Robert W. Baird increased their target price on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. raised their price target on shares of Wells Fargo & Company from $93.50 to $95.50 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods lowered their price target on shares of Wells Fargo & Company from $98.00 to $94.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 15th. Finally, UBS Group dropped their price objective on shares of Wells Fargo & Company from $105.00 to $104.00 and set a "buy" rating for the company in a research note on Tuesday, July 7th. Two equities 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's stock. According to data from MarketBeat, Wells Fargo & Company currently has an average rating of "Moderate Buy" and an average target price of $98.61.

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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