Wells Fargo & Company $WFC Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,600,740 shares of the financial services provider’s stock after acquiring an additional 21,066 shares during the quarter. Public Sector Pension Investment Board’s holdings in Wells Fargo & Company were worth $134,174,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Brighton Jones LLC increased its stake in Wells Fargo & Company by 62.3% in the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after purchasing an additional 25,436 shares in the last quarter. Harbour Investments Inc. lifted its stake in Wells Fargo & Company by 4.9% during the second quarter. Harbour Investments Inc. now owns 30,171 shares of the financial services provider’s stock valued at $2,417,000 after buying an additional 1,422 shares in the last quarter. Mutual Advisors LLC boosted its holdings in shares of Wells Fargo & Company by 1.4% in the second quarter. Mutual Advisors LLC now owns 22,940 shares of the financial services provider’s stock worth $1,934,000 after buying an additional 316 shares during the period. WealthPlan Investment Management LLC increased its position in shares of Wells Fargo & Company by 9.3% in the second quarter. WealthPlan Investment Management LLC now owns 11,639 shares of the financial services provider’s stock worth $933,000 after acquiring an additional 989 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the second quarter valued at approximately $660,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

WFC has been the subject of several research analyst reports. HSBC restated a “hold” rating and issued a $74.00 price target on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. TD Cowen reduced their target price on Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, January 15th. Freedom Capital cut Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 15th. Robert W. Baird lowered Wells Fargo & Company from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 6th. Finally, Truist Financial reduced their price objective on Wells Fargo & Company from $104.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, January 15th. Thirteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.29.

Wells Fargo & Company Trading Down 3.1%

NYSE WFC opened at $86.18 on Friday. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $270.53 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 0.97 and a beta of 1.09. The firm’s fifty day simple moving average is $91.86 and its 200-day simple moving average is $85.85.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The firm had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $21.63 billion. During the same quarter last year, the firm earned $1.43 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 6th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. Wells Fargo & Company’s payout ratio is presently 28.71%.

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.