Wells Fargo & Company $WFC Stock: Formidable Asset Management LLC Cuts Holdings

Formidable Asset Management LLC lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 65.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,314 shares of the financial services provider’s stock after selling 10,120 shares during the quarter. Formidable Asset Management LLC’s holdings in Wells Fargo & Company were worth $439,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in WFC. Legal & General Group Plc purchased a new position in Wells Fargo & Company during the second quarter worth about $1,635,881,000. Bank of New York Mellon Corp purchased a new stake in Wells Fargo & Company in the 2nd quarter valued at about $1,364,923,000. Amundi grew its holdings in Wells Fargo & Company by 73.0% in the 1st quarter. Amundi now owns 16,463,550 shares of the financial services provider’s stock valued at $1,310,663,000 after buying an additional 6,944,316 shares during the period. Deutsche Bank AG purchased a new stake in Wells Fargo & Company in the 2nd quarter valued at about $859,431,000. Finally, Pzena Investment Management LLC increased its stake in shares of Wells Fargo & Company by 0.3% during the 3rd quarter. Pzena Investment Management LLC now owns 8,853,784 shares of the financial services provider’s stock valued at $708,745,000 after acquiring an additional 26,316 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on WFC. Bank of America decreased their target price on shares of Wells Fargo & Company from $102.00 to $100.00 in a research report on Monday, October 5th. Royal Bank Of Canada dropped their price target on shares of Wells Fargo & Company from $100.00 to $92.00 and set an “outperform” rating for the company in a research report on Wednesday, October 14th. The Goldman Sachs Group set a $94.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, October 13th. Daiwa Securities Group cut their price target on shares of Wells Fargo & Company from $100.00 to $93.00 and set an “outperform” rating on the stock in a research note on Thursday, October 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Wells Fargo & Company from $91.50 to $92.00 and gave the company a “neutral” rating in a report on Friday, October 30th. Seventeen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.50.

Wells Fargo & Company Trading Up 0.1%

Shares of WFC stock opened at $83.99 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a fifty-two week low of $72.78 and a fifty-two week high of $97.76. The firm’s 50 day moving average price is $84.41 and its two-hundred day moving average price is $83.60. The stock has a market cap of $252.11 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 0.90 and a beta of 0.93.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, October 13th. The financial services provider reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02. The business had revenue of $21.87 billion for the quarter, compared to the consensus estimate of $22.30 billion. Wells Fargo & Company had a net margin of 17.64% and a return on equity of 14.05%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.66 EPS. On average, analysts anticipate that Wells Fargo & Company will post 7.27 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 6th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, November 6th. Wells Fargo & Company’s dividend payout ratio is currently 28.21%.

Key Headlines Impacting Wells Fargo & Company

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

• Positive Sentiment: Wells Fargo’s corporate and investment banking chief Fernando Rivas described a “now or never” push among some dealmakers to complete transactions ahead of the 2028 election. More M&A activity could support advisory and financing fees; the bank is also looking at financing for AI infrastructure. Article: Wells Fargo exec sees ‘now or never’ M&A attitude
• Positive Sentiment: A Seeking Alpha article argued WFC could offer attractive 13-month total-return potential, while a Zacks report noted the average brokerage recommendation is bullish. These are supportive sentiment signals, though the coverage does not provide a new company-specific financial catalyst. Article: Wells Fargo: A Big Bank With Bigger 13-Month Total Return Potential Article: Is It Worth Investing in Wells Fargo Based on Wall Street’s Bullish Views?
• Neutral Sentiment: Wells Fargo is adding restructuring expertise by hiring former Deutsche Bank executive Philip Saliba. The move expands its leveraged-finance capabilities, but the report gives no expected revenue or earnings impact. Article: Wells Fargo Builds Out Restructuring Capability With Deutsche Bank Hire
• Negative Sentiment: A couple is suing Wells Fargo over allegedly unauthorized wire transfers totaling $72,360; the bank denies the claim. The dispute is a potential reputational and legal overhang, though no broader impact was reported. Article: Wells Fargo denies couple’s fraud claim

About Wells Fargo & Company

Wells Fargo & Company is a diversified financial services company offering banking, lending, investment, and wealth management services. Its products include checking and savings accounts, credit cards, mortgages, auto loans, commercial financing, investment services, and financial advice.

The company serves consumers, businesses, and institutions, primarily in the United States. Its operations include consumer and small business banking, commercial banking, and corporate and investment banking, as well as wealth and investment management.

Wells Fargo traces its origins to 1852, when Henry Wells and William G.