Thomasville National Bank Makes New $1.16 Million Investment in Wells Fargo & Company $WFC

Thomasville National Bank bought a new position in shares of Wells Fargo & Company (NYSE:WFC) during the second quarter, Holdings Channel.com reports. The firm bought 13,987 shares of the financial services provider’s stock, valued at approximately $1,156,000.

Other hedge funds have also modified their holdings of the company. Swiss Life Asset Management Ltd lifted its position in Wells Fargo & Company by 4.2% during the 4th quarter. Swiss Life Asset Management Ltd now owns 350,567 shares of the financial services provider’s stock valued at $32,673,000 after purchasing an additional 14,168 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in shares of Wells Fargo & Company by 4.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 412,511 shares of the financial services provider’s stock worth $38,446,000 after buying an additional 17,302 shares during the last quarter. Norges Bank bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $4,512,563,000. Winning Points Advisors LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at approximately $3,384,000. Finally, Xponance LLC lifted its holdings in Wells Fargo & Company by 4.4% in the fourth quarter. Xponance LLC now owns 502,070 shares of the financial services provider’s stock valued at $46,793,000 after buying an additional 20,967 shares during the period. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company News Roundup

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 a number of analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a report on Friday, July 17th. Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Robert W. Baird lifted their price objective on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods dropped their price objective on 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. 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 company’s 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 Trading Down 0.1%

WFC opened at $88.74 on Monday. The firm’s fifty day moving average is $85.73 and its two-hundred day moving average is $83.06. The firm has a market cap of $268.34 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 0.97 and a beta of 0.92. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating 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 company had revenue of $22.62 billion during the quarter, compared to analyst estimates of $21.86 billion. During the same quarter in the previous year, the business earned $1.60 EPS. The firm’s revenue was up 8.6% on a year-over-year basis. Equities research analysts anticipate that Wells Fargo & Company will post 7.26 EPS for the current year.

Wells Fargo & Company Increases Dividend

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

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.