Wells Fargo & Company (NYSE:WFC) Stock Purchased Sen. Mitch McConnell

24 Sep 2026, 15:02 by Mitch Edgeman · The Markets Daily

Senator Mitch McConnell (Republican-Kentucky) recently bought shares of Wells Fargo & Company (NYSE:WFC). In a filing disclosed on September 21st, the Senator disclosed that they had bought between $15,001 and $50,000 in Wells Fargo & Company stock on September 1st.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded down $0.83 during mid-day trading on Thursday, hitting $81.07. 2,748,092 shares of the company’s stock traded hands, compared to its average volume of 16,042,052. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a 50 day simple moving average of $87.08 and a two-hundred day simple moving average of $82.85. Wells Fargo & Company has a fifty-two week low of $72.78 and a fifty-two week high of $97.76. The stock has a market cap of $245.16 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 0.90 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC – Get Free Report) last released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.73 by $0.23. The firm had revenue of $22.62 billion for the quarter, compared to the consensus estimate of $21.86 billion. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.60 earnings per share. On average, research analysts expect that Wells Fargo & Company will post 7.25 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $2.00 annualized dividend and a yield of 2.5%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s payout ratio is 29.07%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WFC. Norges Bank bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at $4,512,563,000. Capital Research Global Investors boosted its stake in Wells Fargo & Company by 4.9% in the 4th quarter. Capital Research Global Investors now owns 37,421,387 shares of the financial services provider’s stock worth $3,487,687,000 after purchasing an additional 1,760,484 shares during the period. Legal & General Group Plc increased its holdings in Wells Fargo & Company by 0.9% in the 4th quarter. Legal & General Group Plc now owns 21,197,423 shares of the financial services provider’s stock valued at $1,975,600,000 after acquiring an additional 188,186 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Wells Fargo & Company by 13.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,625,070 shares of the financial services provider’s stock valued at $1,922,257,000 after buying an additional 2,369,260 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Wells Fargo & Company during the 2nd quarter valued at approximately $1,364,923,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company News Summary

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

Positive Sentiment: Senator Mitch McConnell disclosed a purchase of WFC shares. While the trade’s size and timing were not provided, the disclosure may offer a modest sentiment boost by signaling confidence from a prominent investor. Congress Trade: Senator Mitch McConnell Just Disclosed New Stock Trades
Neutral Sentiment: Wells Fargo announced that Chief Operating Officer Scott Powell will become chief risk officer in mid-January, succeeding Derek Flowers, who plans to retire after nearly 30 years with the bank. Powell’s internal promotion suggests continuity, although the departure of a long-serving risk chief places attention on execution and oversight during the transition. Wells Fargo Announces Retirement of Chief Risk Officer
Neutral Sentiment: The Federal Reserve’s latest rate hike could support Wells Fargo’s net interest income by improving lending yields, but higher deposit costs may limit the benefit and pressure margins. Fed Rate Hike: What it Means for Wells Fargo’s NII Outlook
Negative Sentiment: Wells Fargo and other major banks declined amid fears that Meta’s Muse AI agent could automate or disrupt banking services, intensifying concerns about long-term competitive and fee pressure across the sector. Banking Giants Tumble as Meta’s AI Agent Triggers Disruption Concerns

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WFC shares. UBS Group dropped their price objective on shares of Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Truist Financial boosted their target price on shares of Wells Fargo & Company from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Keefe, Bruyette & Woods reduced their target price on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating for the company in a research note on Wednesday, July 15th. Robert W. Baird lifted their price target on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Finally, Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.08.

Get Our Latest Report on WFC

About Senator McConnell

Mitch McConnell (Republican Party) is a member of the U.S. Senate from Kentucky. He assumed office on January 3, 1985. His current term ends on January 3, 2027. McConnell (Republican Party) ran for re-election to the U.S. Senate to represent Kentucky. He won in the general election on November 3, 2020. McConnell is the Senate minority leader in the 118th Congress. He became the minority leader when the Democratic Party gained a majority in the Senate in January 2021.McConnell previously served as Senate majority leader from 2015 to 2021. He was unanimously elected as majority leader by Republicans following the 2014 elections. Before that, he served as Senate minority leader from 2007 to 2015. As Senate majority leader, McConnell set records for the number of judicial nominees confirmed during the first two years of a presidency. As of July 2019, the Senate had confirmed two Supreme Court justices, 41 circuit court appeals judges, and 80 district court judges during President Donald Trump’s presidency. “To put that in context, that’s about one in five of the Courts of Appeals judges nationwide have now been appointed by this president and confirmed by this Senate in two and a half years. And I want you to know that my view is, there will be no vacancies left behind. None,” McConnell said in June 2019. McConnell previously worked as the Deputy U.S. Attorney for Legislative Affairs from 1974 to 1975 and as a judge-executive of Jefferson County, KY, from 1979 to 1985.

Wells Fargo & Company Company Profile

(Get Free Report)

Wells Fargo & Company is a diversified financial services company that provides banking, lending, investment, and wealth management services to consumers, businesses, and institutions. Its offerings include checking and savings accounts, credit cards, mortgages, auto loans, personal lending, commercial financing, and treasury management services.

The company operates through businesses that include consumer and small-business banking, commercial banking, corporate and investment banking, and wealth and investment management.