Wells Fargo & Company $WFC Shares Sold by Prospera Financial Services Inc

Key Points

• Prospera Financial Services reduced its Wells Fargo stake by 18.6% in the second quarter, selling 37,412 shares and retaining 164,152 shares valued at approximately $13.6 million.
• Institutional investors and hedge funds own 75.9% of Wells Fargo’s stock. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $98.61.
• Wells Fargo exceeded quarterly earnings and revenue expectations, reporting $1.96 in EPS and $22.62 billion in revenue, while raising its quarterly dividend to $0.50 per share from $0.45.

Prospera Financial Services Inc decreased its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 18.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 164,152 shares of the financial services provider's stock after selling 37,412 shares during the period. Prospera Financial Services Inc's holdings in Wells Fargo & Company were worth $13,567,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of WFC. Nixon Peabody Trust Co. increased its stake in shares of Wells Fargo & Company by 3.6% in the 4th quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider's stock valued at $312,000 after purchasing an additional 115 shares in the last quarter. Simmons Bank boosted its position in Wells Fargo & Company by 1.9% during the fourth quarter. Simmons Bank now owns 6,359 shares of the financial services provider's stock worth $593,000 after purchasing an additional 116 shares in the last quarter. Moss Adams Wealth Advisors LLC grew its holdings in Wells Fargo & Company by 1.0% in the fourth quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider's stock valued at $1,123,000 after purchasing an additional 117 shares during the period. Wood Tarver Financial Group LLC grew its holdings in Wells Fargo & Company by 1.6% in the fourth quarter. Wood Tarver Financial Group LLC now owns 7,754 shares of the financial services provider's stock valued at $722,000 after purchasing an additional 120 shares during the period. Finally, Mine & Arao Wealth Creation & Management LLC. increased its position in shares of Wells Fargo & Company by 0.4% in the fourth quarter. Mine & Arao Wealth Creation & Management LLC. now owns 32,410 shares of the financial services provider's stock valued at $3,021,000 after buying an additional 122 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on WFC shares. Raymond James Financial reaffirmed a "market perform" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. JPMorgan Chase & Co. lifted their price target on shares of Wells Fargo & Company from $93.50 to $95.50 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods cut their price target on shares of Wells Fargo & Company from $98.00 to $94.00 and set a "market perform" rating for the company in a report on Wednesday, July 15th. UBS Group reduced 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 report on Tuesday, July 7th. Finally, Wall Street Zen raised shares of Wells Fargo & Company from a "sell" rating to a "hold" rating in a report on Sunday, June 14th. Two equities 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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: Wells Fargo declared quarterly cash dividends on six series of preferred stock. The announcement provides clarity for income-focused investors and signals that the bank continues to support its preferred-capital structure. Wells Fargo & Company Declares Cash Dividends on Preferred Stock
• Positive Sentiment: Recent analysis suggests WFC could be about 10% undervalued despite strong gains over the past three months, supporting the view that valuation may still leave room for additional appreciation. Wells Fargo Could Be 10% Undervalued After Preferred Dividend Declaration
• Positive Sentiment: Investors have been rotating from weaker-performing artificial-intelligence stocks into financials, creating a favorable sector backdrop for Wells Fargo and other banks. Risk-On Momentum in Bank Stocks Echoes Aftermath of Dot-Com Bust
• Positive Sentiment: Wells Fargo’s latest earnings exceeded expectations, with $1.96 in earnings per share and $22.62 billion in revenue, while revenue grew 8.6% year over year. Analysts continue to focus on potential net-interest-income growth, asset-cap removal and increased capital returns. WFC Stock Gains 20.5% in 3 Months: Buy, Hold or Sell the Stock Now?
• Neutral Sentiment: The bank is expanding its post-asset-cap strategy through tokenized deposits for corporate clients and new long-term debt and depositary-share offerings. The initiatives could improve payment capabilities and investment capacity, but their financial impact remains uncertain. Is Wells Fargo’s Tokenized Deposit Push Reshaping Its Post-Cap Investment Story?
• Negative Sentiment: After a roughly 20% three-month advance, valuation and profit-taking risks could limit near-term upside, making investors more sensitive to execution on growth and regulatory milestones. Why Is Wells Fargo Up Since Last Earnings Report?

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $88.74 on Friday. The company's 50-day moving average is $85.73 and its two-hundred day moving average is $83.10. Wells Fargo & Company has a 1-year low of $72.78 and a 1-year high of $97.76. 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 firm has a market capitalization of $268.34 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 0.96 and a beta of 0.92.

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. The firm had revenue of $22.62 billion for the quarter, compared to analysts' expectations of $21.86 billion. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The firm's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.60 earnings per share. Analysts forecast that Wells Fargo & Company will post 7.26 EPS for the current year.

Wells Fargo & Company Increases Dividend

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

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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