Members Trust Co Trims Holdings in Wells Fargo & Company $WFC

Members Trust Co reduced its stake in Wells Fargo & Company (NYSE:WFC) by 54.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,864 shares of the financial services provider’s stock after selling 6,966 shares during the quarter. Members Trust Co’s holdings in Wells Fargo & Company were worth $467,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Godfrey Financial Associates Inc. acquired a new position in Wells Fargo & Company during the fourth quarter worth $25,000. Miller Capital Partners Inc. purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth $25,000. Navalign LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $26,000. Joseph Group Capital Management acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $28,000. Finally, Core Wealth Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $29,000. Hedge funds and other institutional investors 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 beat Wall Street estimates with second-quarter EPS of about $2.00 and revenue of $22.62 billion, helped by broad-based growth across fee income, wealth management, investment banking, and trading. Wells Fargo Beats Second-Quarter Estimates Amid Broad-Based Revenue Growth
• Positive Sentiment: The bank said profit rose 17%, with higher loan growth boosting interest income and volatile markets supporting trading desks, which points to improving core earnings momentum. Wells Fargo profit jumps on interest income boost, trading windfall
• Positive Sentiment: Management highlighted strength in wealth management and investment banking, including growth in corporate and investment banking revenue and a healthy deal pipeline, which may support future revenue. Wells Fargo Profit Beats Estimates on Wealth, Investment Banking
• Neutral Sentiment: The company also announced an 11% dividend increase and a $3 billion share repurchase, which is supportive for shareholders but largely expected given the strong quarter. Wells Fargo CEO Says America Is Still Spending Big—Even With Inflation Concerns
• Neutral Sentiment: Broader market news and a cooler-than-expected CPI reading also lifted financial stocks overall, providing a supportive backdrop for the sector. June CPI Goes Negative on Low Oil Prices, Banks Report for Q2
• Negative Sentiment: Despite the beat, some articles noted the stock faded as investors worried about higher expenses, margin pressure, and whether strong results would be enough to drive further upside after a run-up. Big Bank Earnings Preview: Bank of America, JPMorgan Stocks Starting to Rally — Will This Laggard Be Next?
• Negative Sentiment: Some commentary framed the reaction as a sell-the-news move across big banks, suggesting investors may be using the earnings release to lock in gains rather than chase the stock higher. Wall Street Lunch: Big Banks Fall Despite Upbeat Earnings

Wells Fargo & Company Stock Down 2.2%

WFC stock opened at $85.73 on Wednesday. The stock has a market cap of $262.35 billion, a P/E ratio of 13.23, a PEG ratio of 1.00 and a beta of 0.92. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.12. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76. The company’s 50 day moving average is $80.89 and its two-hundred day moving average is $83.85.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, July 14th. The financial services provider reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.27. The business had revenue of $22.62 billion during the quarter, compared to analysts’ expectations of $21.86 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.60 EPS. Research analysts expect that Wells Fargo & Company will post 6.98 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

Wall Street Analysts Forecast Growth

WFC has been the topic of several research reports. Piper Sandler reissued an “overweight” rating and set a $94.00 target price (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Monday, April 20th. HSBC upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Wednesday, April 1st. Morgan Stanley raised their price objective 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 report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus target price of $98.34.

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.