Wells Fargo & Company $WFC Shares Purchased by Elevated Capital Advisors LLC

Elevated Capital Advisors LLC increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 338.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,279 shares of the financial services provider’s stock after buying an additional 7,937 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Wells Fargo & Company were worth $818,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Godfrey Financial Associates Inc. purchased a new stake in Wells Fargo & Company in the 4th quarter valued at about $25,000. Miller Capital Partners Inc. purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth about $25,000. Navalign LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $26,000. Joseph Group Capital Management acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $28,000. Finally, Core Wealth Advisors LLC purchased a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $29,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Key Wells Fargo & Company News

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

• Positive Sentiment: Analysts expect Wells Fargo’s Q2 results to benefit from stronger net interest income and fee income, which could support earnings growth when the bank reports next week.
• Positive Sentiment: Recent analyst coverage remains constructive, with Wells Fargo carrying a consensus “moderate buy” rating, helping reinforce investor confidence. Wells Fargo & Company (NYSE:WFC) Given Consensus Rating of “Moderate Buy” by Analysts
• Neutral Sentiment: Wells Fargo shares also benefited from a broader market uptrend, with the latest trading-session articles noting the stock outperformed the market overall. Wells Fargo (WFC) Beats Stock Market Upswing: What Investors Need to Know
• Neutral Sentiment: Investors are also focused on the company’s Q2 outlook and key operating metrics, but those details are mainly setting expectations rather than changing the near-term story. Unveiling Wells Fargo (WFC) Q2 Outlook: Wall Street Estimates for Key Metrics
• Negative Sentiment: One article highlighted that Wells Fargo’s savings accounts may offer very low yields, which could remind customers to move deposits elsewhere and create a mild reputational headwind. Have Savings at Chase, Wells Fargo, or Bank of America? Why You May Want to Move It

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $86.91 on Friday. The firm has a fifty day moving average of $80.55 and a 200-day moving average of $84.01. Wells Fargo & Company has a 52-week low of $72.78 and a 52-week high of $97.76. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $265.96 billion, a P/E ratio of 13.41, a PEG ratio of 0.98 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.02. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The business had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. During the same quarter in the previous year, the business posted $1.39 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, analysts predict that Wells Fargo & Company will post 6.99 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.80 annualized dividend and a yield of 2.1%. Wells Fargo & Company’s dividend payout ratio (DPR) is 27.78%.

Analysts Set New Price Targets

Several equities analysts recently commented on WFC shares. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. JPMorgan Chase & Co. lifted their price target on shares of Wells Fargo & Company from $86.50 to $93.50 and gave the company a “neutral” rating in a report on Monday. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Truist Financial upped their price objective on Wells Fargo & Company from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Finally, Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.34.

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.