Oak Grove Capital LLC Buys Shares of 9,493 Wells Fargo & Company $WFC

Oak Grove Capital LLC acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 9,493 shares of the financial services provider’s stock, valued at approximately $885,000.

A number of other large investors have also added to or reduced their stakes in the stock. Godfrey Financial Associates Inc. purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth $25,000. Miller Capital Partners Inc. bought a new position in shares of Wells Fargo & Company in the fourth quarter worth about $25,000. Navalign LLC purchased a new position in Wells Fargo & Company in the fourth quarter worth about $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company during the 3rd quarter valued at approximately $27,000. Finally, Joseph Group Capital Management bought a new position in Wells Fargo & Company during the fourth quarter valued at $28,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WFC shares. Evercore reiterated an “outperform” rating on shares of Wells Fargo & Company in a report on Friday, March 6th. Piper Sandler reissued an “overweight” rating and issued a $94.00 price objective (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. Morgan Stanley cut their target price on shares of Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Finally, Jefferies Financial Group initiated coverage on shares of Wells Fargo & Company in a research note on Thursday, March 26th. They set a “buy” rating and a $100.00 price objective for the company. Two 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.24.

Key Stories Impacting Wells Fargo & Company

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

• Positive Sentiment: The Federal Reserve’s move to soften Basel III capital requirements could be a meaningful tailwind for U.S. banks, including Wells Fargo, by easing regulatory pressure and potentially improving capital flexibility and returns. The Quiet Revolution at the Fed: The U.S. Banking Sector Received a Catalyst More Potent than Rate Cuts
• Positive Sentiment: Wells Fargo has been drawing investor attention as a trending stock, likely reflecting continued interest in the bank’s earnings outlook, valuation, and sector positioning. Here is What to Know Beyond Why Wells Fargo & Company (WFC) is a Trending Stock
• Neutral Sentiment: Wells Fargo Investment Institute’s midyear outlook emphasized discipline amid volatility and uncertainty, which is more of a market-commentary update than a direct catalyst for WFC shares. Wells Fargo Investment Institute: When Every Headline Shouts, Discipline Matters Most
• Neutral Sentiment: Wells Fargo also raised its S&P 500 year-end target on stronger earnings and easing macro risks, which supports a constructive market backdrop for financial stocks, though it is not specific to WFC’s fundamentals. US Stock Market: Wells Fargo raises S&P 500 target on stronger earnings outlook, easing macro risks
• Negative Sentiment: Osaic said Signature Private Wealth Management left Wells Fargo Advisors Financial Network with more than $300 million in client assets, a small but notable advisor-asset outflow that could weigh on sentiment around Wells Fargo’s wealth management business. Osaic Welcomes Signature Private Wealth Management from Wells Fargo Advisors Financial Network with over $300 Million in Client Assets

Wells Fargo & Company Trading Down 1.8%

Wells Fargo & Company stock opened at $82.31 on Friday. The company has a market capitalization of $251.89 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 0.98 and a beta of 0.93. Wells Fargo & Company has a 52 week low of $72.78 and a 52 week high of $97.76. The stock has a 50-day moving average price of $79.75 and a 200 day moving average price of $84.60. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.02. The firm had revenue of $11.62 billion during the quarter, compared to analysts’ expectations of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.39 earnings per share. Sell-side analysts anticipate that Wells Fargo & Company will post 6.86 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, May 8th. Wells Fargo & Company’s payout ratio is 27.78%.

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.