RWWM Inc. Has $137.04 Million Stock Position in Wells Fargo & Company $WFC

RWWM Inc. decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 2.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,721,344 shares of the financial services provider’s stock after selling 46,534 shares during the period. Wells Fargo & Company makes up 10.0% of RWWM Inc.’s investment portfolio, making the stock its 3rd largest position. RWWM Inc.’s holdings in Wells Fargo & Company were worth $137,036,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Hartford Funds Management Co LLC boosted its holdings in shares of Wells Fargo & Company by 6.1% in the first quarter. Hartford Funds Management Co LLC now owns 20,622 shares of the financial services provider’s stock worth $1,642,000 after acquiring an additional 1,193 shares during the period. Avantax Planning Partners Inc. grew its position in shares of Wells Fargo & Company by 11.4% in the first quarter. Avantax Planning Partners Inc. now owns 11,895 shares of the financial services provider’s stock valued at $947,000 after purchasing an additional 1,220 shares in the last quarter. Calamos Wealth Management LLC raised its stake in shares of Wells Fargo & Company by 2.5% during the 1st quarter. Calamos Wealth Management LLC now owns 179,896 shares of the financial services provider’s stock valued at $14,322,000 after purchasing an additional 4,471 shares during the period. AMG National Trust Bank raised its stake in shares of Wells Fargo & Company by 4.1% during the 1st quarter. AMG National Trust Bank now owns 16,515 shares of the financial services provider’s stock valued at $1,315,000 after purchasing an additional 656 shares during the period. Finally, Retirement Planning Group LLC lifted its holdings in Wells Fargo & Company by 7.4% during the 1st quarter. Retirement Planning Group LLC now owns 3,527 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 242 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. KGI Securities downgraded Wells Fargo & Company to a “hold” rating in a research note on Thursday, April 16th. HSBC upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research report on Wednesday, April 1st. Jefferies Financial Group initiated coverage on shares of Wells Fargo & Company in a report on Thursday, March 26th. They issued a “buy” rating and a $100.00 price target on the stock. Bank of America raised their price objective on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, The Goldman Sachs Group reduced their price objective on shares of Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.34.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $85.73 on Wednesday. Wells Fargo & Company has a 52 week low of $72.78 and a 52 week high of $97.76. The business has a 50-day simple moving average of $80.89 and a 200 day simple moving average of $83.85. 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 $262.35 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.00 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.27. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The business had revenue of $22.62 billion for the quarter, compared to analyst estimates of $21.86 billion. During the same period in the prior year, the company earned $1.60 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, research analysts forecast that Wells Fargo & Company will post 6.98 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

Key Headlines Impacting Wells Fargo & Company

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 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.