S&P 500 Firms Boost Stock Buybacks in Q1: ETF to Tap
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 20 2024
0mins
Should l Buy WFC?
Source: Business Insider
- Stock Buybacks in 2024: Stock buybacks by S&P 500 companies increased 9.9% year over year and 8.1% sequentially in the first quarter of 2024, with tech giants like Apple, Google-parent Alphabet, Meta Platforms, NVIDIA, and Wells Fargo leading the way.
- Buyback Boosters: The Information Technology sector dominated buybacks, with Apple announcing the largest-ever share repurchase worth $110 billion, while Meta Platforms, Google, and NVIDIA also made significant buybacks.
- Finance Sector's Increase: The Finance sector saw a 46.5% increase in buybacks to $43.1 billion, with Wells Fargo spending $6.0 billion during the quarter.
- Reasons for Buybacks: Stock buybacks increase when earnings rise, boosting earnings per share and driving stock prices higher. It signals that management believes the stock is undervalued, attracting more buyers.
- PKW ETF Focus: Investors can consider the Invesco BuyBack Achievers ETF (PKW) to ride the share buyback trend, which tracks companies reducing shares outstanding by 5% or more in the trailing 12 months, with a focus on consumer discretionary and financial sectors.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy WFC?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on WFC
Wall Street analysts forecast WFC stock price to rise
17 Analyst Rating
10 Buy
6 Hold
1 Sell
Moderate Buy
Current: 82.530
Low
74.00
Averages
98.66
High
113.00
Current: 82.530
Low
74.00
Averages
98.66
High
113.00
About WFC
Wells Fargo & Company is a financial services company. The Company provides a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, to individuals, businesses and institutions. The Company operates through four segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. The Company provides consumer financial products and services, including checking and savings accounts, credit and debit cards, and auto, residential mortgage, and small business lending. In addition, the Company offers financial planning, private banking, investment management, and fiduciary services. It also provides financial solutions to businesses through products and services including traditional commercial loans and lines of credit, letters of credit, asset-based lending and leasing, trade financing, treasury management, and investment banking services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Trump Nominates Warsh as Fed Chair Amid Controversy
- Nomination Context: On April 25, 2025, Trump officially nominated former Fed governor Kevin Warsh to replace Jerome Powell as Fed Chair for a four-year term, reflecting Trump's desire to exert influence over Fed policy.
- Senate Resistance: Senator Thom Tillis from North Carolina has stated he will block Warsh's nomination until the federal criminal investigation into Powell is resolved, potentially delaying the nomination process and affecting the stability of Fed leadership.
- Powell's Investigation: Powell is under investigation related to the $2.5 billion renovation of the Fed's headquarters, with threats of criminal charges stemming from his testimony, which could not only tarnish his reputation but also impact the Fed's policy decisions significantly.
- Trump-Fed Tensions: Trump's previous attempt to fire Fed Governor Lisa Cook, who supported Powell, illustrates his challenge to the Fed's independence, and the outcome of Cook's lawsuit could further influence the Fed's policy direction and internal power dynamics.
See More
Trump Backs Cryptocurrency Industry Against Banks
- Market Surge: Following Trump's endorsement of the cryptocurrency industry's battle against U.S. banks, Coinbase shares surged over 12%, indicating strong market confidence in digital assets and reflecting optimistic investor sentiment about the industry's future.
- Industry Support: Trump's social media statement condemning banks' threats to the Genius Act calls for a favorable deal with the crypto industry, providing policy backing that could facilitate further growth in the sector.
- Other Companies' Performance: In addition to Coinbase, other digital asset firms like Strategy and Circle saw increases of 9% and nearly 6%, respectively, showcasing a broader recovery in the crypto market and boosting investor confidence.
- Cryptocurrency Comeback: Bitcoin and Ethereum rose by 5% and 6%, respectively, indicating a revival in the cryptocurrency market that may attract more investors and drive overall industry growth.
See More
Trump Backs Crypto Firms in Battle with Banks Over Stablecoin Yields
- Trump's Support: Trump publicly supports crypto firms on social media, urging banks to relent on stablecoin yield issues, a stance that could sway Republican votes and facilitate the passage of the Clarity Act.
- Market Reaction: Following Trump's endorsement, Coinbase shares surged by 11% in early trading on Wednesday, while shares of JPMorgan and Bank of America fell by less than 1%, reflecting market optimism towards the crypto sector.
- Bank Concerns: Executives from JPMorgan and Bank of America warned that allowing yields on stablecoins could lead to a loss of up to $6.6 trillion in deposits, destabilizing smaller banks and affecting their lending capabilities.
- Industry Meetings: Trump has hosted a series of meetings at the White House to broker a deal between crypto firms and banks, and while banks have yet to relent, his support may bring new hope to the crypto industry.
See More
Hightower Acquires $5 Billion RIA, Grows Employee Advisor Division
Acquisition Announcement: Hightower Advisors has agreed to acquire Journey Strategic Wealth, which manages approximately $5 billion in assets.
New Initiative: This acquisition is part of Hightower's new initiative, Hightower Signature Wealth, allowing advisors to work under Hightower's brand as employees.
Leadership: The initiative is led by CEO Larry Restieri, marking Hightower's first external acquisition in this area.
Business Model Shift: The move signifies a shift in Hightower's business model, transitioning from independent practices to a more integrated employee structure.
See More
Escalating Cyberattack Threat from Iran Amid U.S. Tensions
- Protests Escalate: Hundreds of Iraqi Shiites protested in Baghdad against U.S. and Israeli strikes on Iran, indicating a rise in regional tensions that could lead to larger conflicts and instability.
- Increased Cyberattack Risk: Cybersecurity experts warn that Iran may launch attacks on U.S. businesses and infrastructure at a high-risk moment, highlighting the rising potential for cyber threats against critical sectors.
- CISA Challenges: The Cybersecurity and Infrastructure Security Agency (CISA) faces significant challenges due to a partial government shutdown and management reshuffle, resulting in staff shortages and resource constraints that may weaken its ability to counteract cyber threats.
- Financial Sector Vigilance: JPMorgan Chase's CEO noted that banks could be targets for cyberattacks, anticipating an increase in global cyber or terrorist threats, which underscores the financial industry's heightened focus on cybersecurity.
See More
Nike's Difficult Turnaround Under CEO Elliott Hill Tests Patience as Stock Declines
- Stock Performance: Nike's shares have dropped over 6% year-to-date, reflecting market disappointment with the company's turnaround efforts under CEO Elliott Hill, who took over in October 2024, as investor expectations for a brand revival remain unmet.
- Earnings Downgrade: Wells Fargo removed Nike from its 'top picks' list and lowered fiscal 2027 EPS estimates significantly below Street expectations, indicating concerns about international growth, particularly in the challenging Chinese market.
- Pressure in China: Nike's Greater China sales declined nearly 17% year-over-year in fiscal Q2 2026, worsening from a 9% drop in Q1, highlighting a long road ahead for recovery amid fierce local competition and discount pressures.
- Innovation and Inventory Cleanup: While Nike shows positive signs domestically and recent innovations are well-received, analysts note that the inventory cleanup is nearing completion, and the company must address multiple challenges in China to achieve a full recovery.
See More
Trump Nominates Warsh as Fed Chair Amid Controversy
- Nomination Context: On April 25, 2025, Trump officially nominated former Fed governor Kevin Warsh to replace Jerome Powell as Fed Chair for a four-year term, reflecting Trump's desire to exert influence over Fed policy.
- Senate Resistance: Senator Thom Tillis from North Carolina has stated he will block Warsh's nomination until the federal criminal investigation into Powell is resolved, potentially delaying the nomination process and affecting the stability of Fed leadership.
- Powell's Investigation: Powell is under investigation related to the $2.5 billion renovation of the Fed's headquarters, with threats of criminal charges stemming from his testimony, which could not only tarnish his reputation but also impact the Fed's policy decisions significantly.
- Trump-Fed Tensions: Trump's previous attempt to fire Fed Governor Lisa Cook, who supported Powell, illustrates his challenge to the Fed's independence, and the outcome of Cook's lawsuit could further influence the Fed's policy direction and internal power dynamics.
See More
Trump Backs Cryptocurrency Industry Against Banks
- Market Surge: Following Trump's endorsement of the cryptocurrency industry's battle against U.S. banks, Coinbase shares surged over 12%, indicating strong market confidence in digital assets and reflecting optimistic investor sentiment about the industry's future.
- Industry Support: Trump's social media statement condemning banks' threats to the Genius Act calls for a favorable deal with the crypto industry, providing policy backing that could facilitate further growth in the sector.
- Other Companies' Performance: In addition to Coinbase, other digital asset firms like Strategy and Circle saw increases of 9% and nearly 6%, respectively, showcasing a broader recovery in the crypto market and boosting investor confidence.
- Cryptocurrency Comeback: Bitcoin and Ethereum rose by 5% and 6%, respectively, indicating a revival in the cryptocurrency market that may attract more investors and drive overall industry growth.
See More
Trump Backs Crypto Firms in Battle with Banks Over Stablecoin Yields
- Trump's Support: Trump publicly supports crypto firms on social media, urging banks to relent on stablecoin yield issues, a stance that could sway Republican votes and facilitate the passage of the Clarity Act.
- Market Reaction: Following Trump's endorsement, Coinbase shares surged by 11% in early trading on Wednesday, while shares of JPMorgan and Bank of America fell by less than 1%, reflecting market optimism towards the crypto sector.
- Bank Concerns: Executives from JPMorgan and Bank of America warned that allowing yields on stablecoins could lead to a loss of up to $6.6 trillion in deposits, destabilizing smaller banks and affecting their lending capabilities.
- Industry Meetings: Trump has hosted a series of meetings at the White House to broker a deal between crypto firms and banks, and while banks have yet to relent, his support may bring new hope to the crypto industry.
See More
Hightower Acquires $5 Billion RIA, Grows Employee Advisor Division
Acquisition Announcement: Hightower Advisors has agreed to acquire Journey Strategic Wealth, which manages approximately $5 billion in assets.
New Initiative: This acquisition is part of Hightower's new initiative, Hightower Signature Wealth, allowing advisors to work under Hightower's brand as employees.
Leadership: The initiative is led by CEO Larry Restieri, marking Hightower's first external acquisition in this area.
Business Model Shift: The move signifies a shift in Hightower's business model, transitioning from independent practices to a more integrated employee structure.
See More
Escalating Cyberattack Threat from Iran Amid U.S. Tensions
- Protests Escalate: Hundreds of Iraqi Shiites protested in Baghdad against U.S. and Israeli strikes on Iran, indicating a rise in regional tensions that could lead to larger conflicts and instability.
- Increased Cyberattack Risk: Cybersecurity experts warn that Iran may launch attacks on U.S. businesses and infrastructure at a high-risk moment, highlighting the rising potential for cyber threats against critical sectors.
- CISA Challenges: The Cybersecurity and Infrastructure Security Agency (CISA) faces significant challenges due to a partial government shutdown and management reshuffle, resulting in staff shortages and resource constraints that may weaken its ability to counteract cyber threats.
- Financial Sector Vigilance: JPMorgan Chase's CEO noted that banks could be targets for cyberattacks, anticipating an increase in global cyber or terrorist threats, which underscores the financial industry's heightened focus on cybersecurity.
See More
Nike's Difficult Turnaround Under CEO Elliott Hill Tests Patience as Stock Declines
- Stock Performance: Nike's shares have dropped over 6% year-to-date, reflecting market disappointment with the company's turnaround efforts under CEO Elliott Hill, who took over in October 2024, as investor expectations for a brand revival remain unmet.
- Earnings Downgrade: Wells Fargo removed Nike from its 'top picks' list and lowered fiscal 2027 EPS estimates significantly below Street expectations, indicating concerns about international growth, particularly in the challenging Chinese market.
- Pressure in China: Nike's Greater China sales declined nearly 17% year-over-year in fiscal Q2 2026, worsening from a 9% drop in Q1, highlighting a long road ahead for recovery amid fierce local competition and discount pressures.
- Innovation and Inventory Cleanup: While Nike shows positive signs domestically and recent innovations are well-received, analysts note that the inventory cleanup is nearing completion, and the company must address multiple challenges in China to achieve a full recovery.
See More
