Wells Fargo & Company (NYSE:WFC) Shares Acquired Sen. Mitch McConnell

Key Points

• Senator Mitch McConnell acquired shares of Wells Fargo & Company worth between $1,001 and $15,000 on September 1st, as disclosed in a filing on September 12th.
• Wells Fargo announced a quarterly dividend increase from $0.40 to $0.45, representing an annualized payout of $1.80 and a yield of 2.2%.
• Despite a slight revenue miss against analyst expectations, Wells Fargo reported earnings of $1.54 per share, exceeding the consensus estimate by $0.13.

Senator Mitch McConnell (R-Kentucky) recently bought shares of Wells Fargo & Company NYSE: WFC. In a filing disclosed on September 12th, the Senator disclosed that they had bought between $1,001 and $15,000 in Wells Fargo & Company stock on September 1st.

Senator Mitch McConnell also recently made the following trade(s):

• Sold $15,001 - $50,000 in shares of Luminar Technologies NASDAQ: LAZR on 6/26/2025.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $81.46 on Friday. The company's fifty day simple moving average is $80.38 and its 200-day simple moving average is $75.16. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The firm has a market cap of $260.95 billion, a PE ratio of 13.95, a P/E/G ratio of 1.26 and a beta of 1.25. Wells Fargo & Company has a 12 month low of $51.75 and a 12 month high of $84.83.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The firm had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. During the same period in the prior year, the firm posted $1.33 earnings per share. The company's quarterly revenue was up .6% compared to the same quarter last year. Equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 8th. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. Wells Fargo & Company's payout ratio is presently 30.82%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WFC. Phillip Securities cut shares of Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Bank of America upped their price objective on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $77.00 to $87.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Evercore ISI reaffirmed an "outperform" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Finally, Wall Street Zen raised shares of Wells Fargo & Company from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Wells Fargo & Company presently has an average rating of "Moderate Buy" and an average price target of $82.56.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WFC. Access Investment Management LLC acquired a new stake in Wells Fargo & Company during the 2nd quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC increased its position in Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 322 shares during the period. McElhenny Sheffield Capital Management LLC acquired a new stake in Wells Fargo & Company during the 2nd quarter valued at approximately $27,000. Motco increased its position in Wells Fargo & Company by 397.6% during the 1st quarter. Motco now owns 408 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 326 shares during the period. Finally, Accent Capital Management LLC acquired a new stake in Wells Fargo & Company during the 1st quarter valued at approximately $29,000. Institutional investors own 75.90% of the company's stock.

About Senator McConnell

Mitch McConnell (Republican Party) is a member of the U.S. Senate from Kentucky. He assumed office on January 3, 1985. His current term ends on January 3, 2027. McConnell (Republican Party) ran for re-election to the U.S. Senate to represent Kentucky. He won in the general election on November 3, 2020. McConnell is the Senate minority leader in the 118th Congress. He became the minority leader when the Democratic Party gained a majority in the Senate in January 2021.McConnell previously served as Senate majority leader from 2015 to 2021. He was unanimously elected as majority leader by Republicans following the 2014 elections. Before that, he served as Senate minority leader from 2007 to 2015. As Senate majority leader, McConnell set records for the number of judicial nominees confirmed during the first two years of a presidency. As of July 2019, the Senate had confirmed two Supreme Court justices, 41 circuit court appeals judges, and 80 district court judges during President Donald Trump's presidency. “To put that in context, that’s about one in five of the Courts of Appeals judges nationwide have now been appointed by this president and confirmed by this Senate in two and a half years. And I want you to know that my view is, there will be no vacancies left behind. None,” McConnell said in June 2019. McConnell previously worked as the Deputy U.S. Attorney for Legislative Affairs from 1974 to 1975 and as a judge-executive of Jefferson County, KY, from 1979 to 1985.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: 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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.