Keebeck Wealth Management Sells 8,077 Shares of Wells Fargo & Company $WFC

Keebeck Wealth Management trimmed its position in Wells Fargo & Company (NYSE:WFC) by 18.7% during the 1st quarter, HoldingsChannel reports. The firm owned 35,122 shares of the financial services provider’s stock after selling 8,077 shares during the quarter. Keebeck Wealth Management’s holdings in Wells Fargo & Company were worth $2,796,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in WFC. Arrowstreet Capital Limited Partnership lifted its position in shares of Wells Fargo & Company by 482.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,852,365 shares of the financial services provider’s stock worth $147,467,000 after buying an additional 1,534,255 shares in the last quarter. Caxton Associates LLP grew its holdings in Wells Fargo & Company by 93.0% during the 1st quarter. Caxton Associates LLP now owns 24,540 shares of the financial services provider’s stock valued at $1,954,000 after buying an additional 11,827 shares in the last quarter. Inceptionr LLC purchased a new position in Wells Fargo & Company during the 1st quarter valued at approximately $1,557,000. Dickmeyer Boyce Financial Management Inc. bought a new stake in Wells Fargo & Company in the 1st quarter worth approximately $1,212,000. Finally, Gibbs Wealth Management increased its stake in Wells Fargo & Company by 74.8% in the 1st quarter. Gibbs Wealth Management now owns 31,592 shares of the financial services provider’s stock worth $2,515,000 after acquiring an additional 13,514 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

WFC stock opened at $86.24 on Friday. The stock has a market cap of $263.91 billion, a PE ratio of 12.53, a P/E/G ratio of 0.94 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. The company has a 50-day moving average price of $82.46 and a 200 day moving average price of $83.48. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company Announces Dividend

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

Key Headlines Impacting Wells Fargo & Company

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

• Positive Sentiment: Wells Fargo appointed Tom Nicholls to lead its Sports Investment Banking group, adding a specialist banker to expand advisory and deal-making capabilities in a niche area that could support fee growth. Wells Fargo (WFC) Appoints Tom Nicholls To Lead Sports Investment Banking
• Positive Sentiment: Several market articles noted that Wells Fargo is drawing increased investor attention and that Wall Street analysts remain broadly optimistic, which can help support sentiment around the stock. Wall Street Bulls Look Optimistic About Wells Fargo (WFC): Should You Buy?
• Positive Sentiment: Wells Fargo’s Innovation Incubator program highlighted the bank’s role in funding practical technology solutions for affordable housing and grid demand challenges, reinforcing its corporate and ESG-oriented brand. Innovation Incubator Program Drives Real-World Impact in Affordable Housing and Electrical Grid Demands
• Neutral Sentiment: MarketWatch highlighted a customer’s difficulty getting a larger credit limit for balance transfer debt, but this appears to be an isolated consumer complaint rather than a material company-level catalyst. I wanted to transfer $17,000 in credit-card debt. Why did Wells Fargo offer me only a $4,000 credit limit?

Wall Street Analyst Weigh In

Several analysts have recently issued reports on WFC shares. Bank of America upped their price objective on Wells Fargo & Company from $95.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. KGI Securities cut shares of Wells Fargo & Company to a “hold” rating in a research report on Thursday, April 16th. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Finally, Phillip Securities upgraded shares of 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.50.

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.