Oregon Public Employees Retirement Fund Increases Stock Position in Wells Fargo & Company (NYSE:WFC)


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Oregon Public Employees Retirement Fund increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 118.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 729,531 shares of the financial services provider’s stock after buying an additional 396,130 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Wells Fargo & Company were worth $22,017,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hoover Financial Advisors Inc. purchased a new stake in Wells Fargo & Company during the fourth quarter worth $30,000. Key Financial Inc acquired a new position in Wells Fargo & Company during the fourth quarter worth $31,000. Flagship Private Wealth LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth $31,000. Johnson Midwest Financial LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth $35,000. Finally, Capstone Triton Financial Group LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth $36,000. 67.25% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company stock traded down $0.09 during midday trading on Tuesday, hitting $37.17. 908,066 shares of the stock were exchanged, compared to its average volume of 38,163,500. Wells Fargo & Company has a fifty-two week low of $20.76 and a fifty-two week high of $46.95. The stock has a market capitalization of $153.68 billion, a price-to-earnings ratio of 100.70, a PEG ratio of 4.84 and a beta of 1.07. The stock’s 50-day simple moving average is $32.83 and its 200 day simple moving average is $27.29. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.34.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Thursday, January 14th. The financial services provider reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.04. The company had revenue of $17.93 billion during the quarter, compared to analyst estimates of $18 billion. Wells Fargo & Company had a net margin of 3.72% and a return on equity of 3.18%. Wells Fargo & Company’s revenue was down 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.93 earnings per share. Equities analysts anticipate that Wells Fargo & Company will post 0.48 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, March 1st. Shareholders of record on Friday, February 5th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Thursday, February 4th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 9.13%.

WFC has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Thursday, January 21st. DA Davidson upped their price objective on shares of Wells Fargo & Company from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, January 19th. Raymond James increased their target price on shares of Wells Fargo & Company from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Tuesday, January 19th. Morgan Stanley upgraded shares of Wells Fargo & Company from an “equal weight” rating to an “overweight” rating and set a $40.00 target price for the company in a research report on Monday, November 30th. Finally, JPMorgan Chase & Co. upgraded shares of Wells Fargo & Company from an “underweight” rating to a “neutral” rating and increased their target price for the company from $31.50 to $37.00 in a research report on Thursday, February 18th. Eleven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $33.80.

About Wells Fargo & Company

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. It operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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