Elevation Point Wealth Partners LLC Has $6.31 Million Position in Wells Fargo & Company $WFC

Elevation Point Wealth Partners LLC grew its holdings in Wells Fargo & Company (NYSE:WFC) by 408.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,206 shares of the financial services provider’s stock after purchasing an additional 63,614 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Wells Fargo & Company were worth $6,306,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of WFC. Diversified Trust Co. lifted its position in shares of 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 worth $3,289,000 after buying an additional 13,196 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 valued at $49,610,000 after acquiring an additional 84,902 shares during the last quarter. Swiss Life Asset Management Ltd raised its stake in shares of Wells Fargo & Company by 4.2% in 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 acquiring an additional 14,168 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Wells Fargo & Company by 4.4% in 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 acquiring an additional 17,302 shares in the last quarter. Finally, Natixis Advisors LLC lifted its holdings in Wells Fargo & Company by 4.2% in the 3rd quarter. Natixis Advisors LLC now owns 3,482,885 shares of the financial services provider’s stock worth $291,935,000 after purchasing an additional 139,659 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Key Stories Impacting Wells Fargo & Company

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

• Positive Sentiment: Analysts recently lifted price targets on Wells Fargo, including a Morgan Stanley target of $102, reinforcing a constructive view on the bank ahead of earnings. Wells Fargo Stock (WFC) Opinions on Analyst Price Target Increases
• Positive Sentiment: Wells Fargo is benefiting from expectations that Q2 results could show improved earnings, with analysts forecasting EPS around $1.71 and revenue near $21.81 billion. Top Wall Street Forecasters Revamp Wells Fargo Expectations Ahead Of Q2 Earnings
• Positive Sentiment: Investor sentiment was also helped by recent news that the stock rose after dividend hike news, pointing to continued capital return strength. Top Wall Street Forecasters Revamp Wells Fargo Expectations Ahead Of Q2 Earnings
• Positive Sentiment: Senator Mitch McConnell disclosed a new purchase of WFC shares, adding a modest political-sentiment boost. Congress Trade: Senator Mitch McConnell Just Disclosed New Stock Trades
• Neutral Sentiment: Recent commentary continues to compare Wells Fargo with other major banks as investors look for value and income opportunities, but this is more of a sector discussion than a company-specific catalyst. More Bang for Your Buck: Is Bank of America or Wells Fargo the Better Value-and-Income Buy?
• Neutral Sentiment: Some articles noted that Wells Fargo could benefit from potential tariff refunds and other non-operating gains, but the impact is still uncertain and not yet reflected in results. Wells Fargo (WFC) Could Get An Earnings Lift From Supreme Court Tariff Refunds
• Negative Sentiment: Longer-term concerns remain around Wells Fargo’s lagging return on equity and pressure on net interest margins, which could cap enthusiasm if earnings disappoint. Wells Fargo Stock Has Lagged Other Banks. Earnings Can Change That.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WFC shares. Evercore reaffirmed an “outperform” rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. Piper Sandler restated an “overweight” rating and issued a $94.00 price objective (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. KGI Securities downgraded shares of Wells Fargo & Company to a “hold” rating in a report on Thursday, April 16th. HSBC upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Wednesday, April 1st. Finally, Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued 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 price target of $98.34.

Wells Fargo & Company Trading Down 0.0%

Wells Fargo & Company stock opened at $85.49 on Friday. The business has a 50 day moving average price of $80.05 and a two-hundred day moving average price of $84.23. 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 stock has a market cap of $261.61 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 0.98 and a beta of 0.92. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.02. The company had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.Wells Fargo & Company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.39 EPS. As a group, equities analysts forecast that Wells Fargo & Company will post 6.98 EPS for the current year.

Wells Fargo & Company Dividend Announcement

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

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.