Rep. Jefferson Shreve Sells Wells Fargo & Company (NYSE:WFC) Stock

Representative Jefferson Shreve (R-Indiana) recently sold shares of Wells Fargo & Company NYSE: WFC. In a filing disclosed on June 22nd, the Representative disclosed that they had sold between $50,001 and $100,000 in Wells Fargo & Company stock on May 12th. The trade occurred in the Representative's "CRT - STANDARD UNIT TRUST" account.

Representative Jefferson Shreve also recently made the following trade(s):

• Sold $15,001 - $50,000 in shares of Hubbell NYSE: HUBB on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Trane Technologies NYSE: TT on 5/12/2025.
• Sold $15,001 - $50,000 in shares of RTX NYSE: RTX on 5/12/2025.
• Sold $50,001 - $100,000 in shares of NiSource NYSE: NI on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Johnson & Johnson NYSE: JNJ on 5/12/2025.
• Sold $15,001 - $50,000 in shares of AppLovin NASDAQ: APP on 5/12/2025.
• Sold $15,001 - $50,000 in shares of Fiserv NYSE: FI on 5/12/2025.
• Sold $15,001 - $50,000 in shares of CNO Financial Group NYSE: CNO on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Cboe Global Markets NASDAQ: CBOE on 5/12/2025.
• Sold $15,001 - $50,000 in shares of Lam Research NASDAQ: LRCX on 5/12/2025.

Wells Fargo & Company Trading Up 0.4%

Shares of Wells Fargo & Company stock traded up $0.38 on Friday, hitting $84.25. 14,071,803 shares of the company's stock traded hands, compared to its average volume of 19,290,604. The firm's 50-day moving average price is $77.86 and its two-hundred day moving average price is $74.63. The stock has a market capitalization of $274.15 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 1.31 and a beta of 1.16. Wells Fargo & Company has a one year low of $50.15 and a one year high of $84.83. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83.

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

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 9th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.90%. The ex-dividend date was Friday, May 9th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 27.40%.

Wells Fargo & Company announced that its Board of Directors has approved a stock repurchase plan on Tuesday, April 29th that allows the company to buyback $40.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 17.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On Wells Fargo & Company

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WFC. NorthRock Partners LLC boosted its stake in shares of Wells Fargo & Company by 0.4% during the 2nd quarter. NorthRock Partners LLC now owns 83,501 shares of the financial services provider's stock worth $6,690,000 after buying an additional 344 shares during the last quarter. Verdence Capital Advisors LLC boosted its stake in shares of Wells Fargo & Company by 3.7% during the 2nd quarter. Verdence Capital Advisors LLC now owns 51,919 shares of the financial services provider's stock worth $4,160,000 after buying an additional 1,873 shares during the last quarter. Concord Asset Management LLC VA boosted its stake in shares of Wells Fargo & Company by 9.3% during the 2nd quarter. Concord Asset Management LLC VA now owns 13,945 shares of the financial services provider's stock worth $1,117,000 after buying an additional 1,190 shares during the last quarter. Vest Financial LLC boosted its stake in shares of Wells Fargo & Company by 39.3% during the 2nd quarter. Vest Financial LLC now owns 37,958 shares of the financial services provider's stock worth $3,041,000 after buying an additional 10,702 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its stake in shares of Wells Fargo & Company by 5.5% during the 2nd quarter. Pzena Investment Management LLC now owns 10,371,812 shares of the financial services provider's stock worth $830,990,000 after buying an additional 542,493 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

WFC has been the subject of a number of recent analyst reports. Dbs Bank upgraded shares of Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. The Goldman Sachs Group lowered their price objective on shares of Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Bank of America upped their price objective on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Truist Financial upped their price objective on shares of Wells Fargo & Company from $83.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $80.39.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana's 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana's 6th Congressional District. He declared candidacy for the 2026 election. Email editor@ballotpedia.org to notify us of updates to this biography. Jefferson Shreve earned a bachelor's degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve's career experience includes working as a real estate executive. Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

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.