Wells Fargo & Company $WFC Stock Holdings Boosted by Lighthouse Financial Services Inc. ADV

Lighthouse Financial Services Inc. ADV increased its position in Wells Fargo & Company (NYSE:WFC) by 73.8% during the second quarter, Holdings Channel reports. The fund owned 18,998 shares of the financial services provider’s stock after purchasing an additional 8,069 shares during the quarter. Lighthouse Financial Services Inc. ADV’s holdings in Wells Fargo & Company were worth $1,633,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in Wells Fargo & Company by 62.3% in the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after buying an additional 25,436 shares in the last quarter. Jump Financial LLC increased its position in Wells Fargo & Company by 12.9% in the 2nd quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider’s stock valued at $1,835,000 after acquiring an additional 2,615 shares during the period. Main Street Financial Solutions LLC increased its position in Wells Fargo & Company by 111.0% in the 2nd quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider’s stock valued at $1,122,000 after acquiring an additional 7,368 shares during the period. Vivaldi Capital Management LP raised its stake in Wells Fargo & Company by 5.4% during the 2nd quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider’s stock valued at $259,000 after acquiring an additional 165 shares in the last quarter. Finally, Diversify Advisory Services LLC raised its stake in Wells Fargo & Company by 51.2% during the 2nd quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider’s stock valued at $2,044,000 after acquiring an additional 8,714 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

WFC stock opened at $88.74 on Friday. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76. The firm has a 50-day moving average of $85.73 and a two-hundred day moving average of $83.10. The firm has a market capitalization of $268.34 billion, a PE ratio of 12.90, a P/E/G ratio of 0.96 and a beta of 0.92. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.23. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The business had revenue of $22.62 billion for the quarter, compared to the consensus estimate of $21.86 billion. During the same period last year, the firm posted $1.60 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, analysts forecast that Wells Fargo & Company will post 7.26 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.3%. This is a positive change 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 currently 29.07%.

Key Headlines Impacting 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?

Analysts Set New Price Targets

WFC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their price target on Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating for the company in a research note on Wednesday, July 15th. Raymond James Financial restated a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. Phillip Securities raised shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, May 7th. Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Finally, Truist Financial increased their target price on shares of Wells Fargo & Company from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.