Rep. Julie Johnson Buys Wells Fargo & Company (NYSE:WFC) Shares

Representative Julie Johnson (D-Texas) recently bought shares of Wells Fargo & Company (NYSE:WFC). In a filing disclosed on March 12th, the Representative disclosed that they had bought between $1,001 and $15,000 in Wells Fargo & Company stock on February 12th. The trade occurred in the Representative’s “MERRILL LYNCH TAX EFFICIENT CORE” account.

Representative Julie Johnson also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Norfolk Southern (NYSE:NSC) on 2/25/2025.
• Purchased $1,001 – $15,000 in shares of Union Pacific (NYSE:UNP) on 2/25/2025.
• Purchased $1,001 – $15,000 in shares of Bank of New York Mellon (NYSE:BK) on 2/24/2025.
• Sold $1,001 – $15,000 in shares of BlackRock (NYSE:BLK) on 2/24/2025.
• Sold $1,001 – $15,000 in shares of The PNC Financial Services Group (NYSE:PNC) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of Progressive (NYSE:PGR) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of The Goldman Sachs Group (NYSE:GS) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of Capital One Financial (NYSE:COF) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of Capital One Financial (NYSE:COF) on 2/14/2025.
• Purchased $1,001 – $15,000 in shares of Progressive (NYSE:PGR) on 2/14/2025.

Wells Fargo & Company Stock Down 0.8 %

Shares of Wells Fargo & Company stock opened at $68.35 on Friday. The firm has a market cap of $224.76 billion, a price-to-earnings ratio of 12.71, a P/E/G ratio of 1.18 and a beta of 1.16. The stock has a 50-day simple moving average of $75.90 and a 200-day simple moving average of $68.74. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 earnings per share. On average, equities research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.34%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.74%.

Institutional Investors Weigh In On Wells Fargo & Company

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $3,365,658,000. Northern Trust Corp boosted its stake in Wells Fargo & Company by 10.7% during the fourth quarter. Northern Trust Corp now owns 34,339,295 shares of the financial services provider’s stock worth $2,411,992,000 after buying an additional 3,307,855 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Wells Fargo & Company by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 20,369,222 shares of the financial services provider’s stock worth $1,430,742,000 after buying an additional 238,131 shares in the last quarter. Capital Research Global Investors boosted its stake in Wells Fargo & Company by 932.0% during the fourth quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider’s stock worth $1,105,218,000 after buying an additional 14,210,193 shares in the last quarter. Finally, Capital World Investors boosted its stake in Wells Fargo & Company by 0.4% during the fourth quarter. Capital World Investors now owns 13,914,098 shares of the financial services provider’s stock worth $977,338,000 after buying an additional 62,099 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WFC. Barclays upped their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods upped their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Piper Sandler increased their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Citigroup boosted their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Finally, Truist Financial increased their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.39.

About Representative Johnson

Julie Johnson (Democratic Party) is a member of the U.S. House, representing Texas’ 32nd Congressional District. She assumed office on January 3, 2025. Her current term ends on January 3, 2027.

Johnson (Democratic Party) ran for election to the U.S. House to represent Texas’ 32nd Congressional District. She won in the general election on November 5, 2024.

Julie Johnson earned a B.A. in history and government from the University of Texas at Austin in 1987 and a J.D. from the University of Houston Law Center in 1991. Johnson’s career experience includes working as an attorney.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.