Moody Lynn Lieberson & Walker LLC Trims Position in Wells Fargo & Company $WFC

Moody Lynn Lieberson & Walker LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 72.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 54,365 shares of the financial services provider’s stock after selling 142,131 shares during the quarter. Moody Lynn Lieberson & Walker LLC’s holdings in Wells Fargo & Company were worth $4,493,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Aspiriant LLC boosted its holdings in Wells Fargo & Company by 4.7% in the second quarter. Aspiriant LLC now owns 23,728 shares of the financial services provider’s stock valued at $1,961,000 after purchasing an additional 1,074 shares during the last quarter. Poehling Capital Management INC. lifted its holdings in shares of Wells Fargo & Company by 2.4% in the 2nd quarter. Poehling Capital Management INC. now owns 141,178 shares of the financial services provider’s stock valued at $11,667,000 after buying an additional 3,363 shares during the period. Prevail Innovative Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Company in the 2nd quarter valued at about $7,398,000. Harmony Asset Management LLC boosted its stake in shares of Wells Fargo & Company by 11.9% in the second quarter. Harmony Asset Management LLC now owns 11,157 shares of the financial services provider’s stock worth $922,000 after buying an additional 1,185 shares during the last quarter. Finally, Mission Wealth Management LP boosted its stake in shares of Wells Fargo & Company by 20.2% in the second quarter. Mission Wealth Management LP now owns 102,870 shares of the financial services provider’s stock worth $8,501,000 after buying an additional 17,301 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

More Wells Fargo & Company News

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?

Wells Fargo & Company Trading Down 0.1%

WFC stock opened at $88.74 on Monday. Wells Fargo & Company has a 12-month low of $72.78 and a 12-month high of $97.76. The business’s 50-day moving average is $85.73 and its 200 day moving average is $83.06. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. The stock has a market cap of $268.34 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 0.97 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.23. The business had revenue of $22.62 billion for the quarter, compared to the consensus estimate of $21.86 billion. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.60 earnings per share. On average, sell-side analysts anticipate that Wells Fargo & Company will post 7.26 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WFC shares. Bank of America lifted their price target on Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Robert W. Baird lifted their target price on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Morgan Stanley increased 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 report on Monday, June 29th. Raymond James Financial restated a “market perform” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Wells Fargo & Company from $93.50 to $95.50 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Two research 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $98.61.

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.