Dimensional Fund Advisors LP Cuts Stock Holdings in Wells Fargo & Company $WFC

Dimensional Fund Advisors LP reduced its position in Wells Fargo & Company (NYSE:WFC) by 7.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 18,474,225 shares of the financial services provider’s stock after selling 1,449,872 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Wells Fargo & Company were worth $1,470,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Diversified Trust Co. grew its holdings in Wells Fargo & Company by 59.7% in the fourth quarter. Diversified Trust Co. now owns 35,285 shares of the financial services provider’s stock valued at $3,289,000 after purchasing an additional 13,196 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Wells Fargo & Company by 19.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 532,300 shares of the financial services provider’s stock worth $49,610,000 after buying an additional 84,902 shares during the period. Swiss Life Asset Management Ltd lifted its position in shares of 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 buying an additional 14,168 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Wells Fargo & Company by 4.4% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 412,511 shares of the financial services provider’s stock valued at $38,446,000 after buying an additional 17,302 shares in the last quarter. Finally, Winning Points Advisors LLC acquired a new stake in Wells Fargo & Company in the 4th quarter valued at $3,384,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WFC. 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. KGI Securities downgraded shares of Wells Fargo & Company to a “hold” rating in a report on Thursday, April 16th. Barclays dropped their target price on shares of Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. Robert W. Baird boosted their target price on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Monday, April 20th. 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.50.

Key Wells Fargo & Company News

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

• Positive Sentiment: Wells Fargo reported stronger-than-expected Q2 results, with adjusted EPS of $1.96 topping Wall Street’s $1.72 estimate, driven by higher fee income, investment banking activity and net interest income. Wells Fargo CEO Says America Is Still Spending Big—Even With Inflation Concerns
• Positive Sentiment: Wells Fargo was upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about its earnings outlook and adding another bullish signal for investors. Wells Fargo (WFC) Upgraded to Buy: Here’s What You Should Know
• Positive Sentiment: Analysts remain constructive after the bank’s earnings beat, with industry commentary highlighting strong Q2 performance across major banks including Wells Fargo. Revving Up Returns: Big Banks Race Through the Rate Plateau (WFC)
• Neutral Sentiment: Wells Fargo also appeared in commentary noting that big bank earnings beat estimates, but some of the profit strength came from lower loan-loss reserves, which may be less repeatable going forward. Revving Up Returns: Big Banks Race Through the Rate Plateau (WFC)
• Neutral Sentiment: Wells Fargo’s housing-market index showed weaker homebuilder confidence in July, a modest macroeconomic headwind for the bank’s mortgage-related business. U.S. Homebuilder Confidence Unexpectedly Deteriorates In July

Wells Fargo & Company Stock Up 0.0%

NYSE WFC opened at $87.52 on Monday. The business has a fifty day moving average price of $81.44 and a 200 day moving average price of $83.69. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market cap of $267.82 billion, a P/E ratio of 12.72, a P/E/G ratio of 0.96 and a beta of 0.92. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio is 26.16%.

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.