Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 12.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 735,663 shares of the financial services provider's stock after purchasing an additional 81,263 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Wells Fargo & Company were worth $30,059,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC boosted its position in shares of Wells Fargo & Company by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 69,071,445 shares of the financial services provider's stock worth $2,940,412,000 after purchasing an additional 324,823 shares during the last quarter. Capital International Investors lifted its holdings in Wells Fargo & Company by 69.1% during the second quarter. Capital International Investors now owns 61,833,769 shares of the financial services provider's stock worth $2,638,987,000 after acquiring an additional 25,268,032 shares in the last quarter. Norges Bank bought a new position in Wells Fargo & Company during the fourth quarter worth about $2,049,693,000. Moneta Group Investment Advisors LLC lifted its holdings in Wells Fargo & Company by 129,312.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider's stock worth $1,085,410,000 after acquiring an additional 26,267,166 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Wells Fargo & Company by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 21,901,706 shares of the financial services provider's stock worth $1,061,357,000 after acquiring an additional 64,080 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors.
Wells Fargo & Company Stock Performance
Shares of NYSE:WFC traded down $0.13 during trading on Thursday, reaching $48.35. 10,761,347 shares of the stock were exchanged, compared to its average volume of 18,153,514. Wells Fargo & Company has a 12 month low of $35.25 and a 12 month high of $51.44. The firm has a market cap of $175.59 billion, a PE ratio of 9.99, a PEG ratio of 1.00 and a beta of 1.18. The stock has a 50-day moving average price of $48.40 and a 200-day moving average price of $44.22. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.24.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.30). The company had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.30 billion. Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. The company's quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 earnings per share. Research analysts expect that Wells Fargo & Company will post 4.72 EPS for the current fiscal year.
Wells Fargo & Company Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 2nd will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Thursday, February 1st. Wells Fargo & Company's dividend payout ratio (DPR) is currently 29.05%.
Wall Street Analyst Weigh In
WFC has been the topic of several recent research reports. Morgan Stanley lifted their price target on Wells Fargo & Company from $54.00 to $63.00 and gave the company an "overweight" rating in a research note on Tuesday, January 30th. UBS Group lifted their price target on Wells Fargo & Company from $51.00 to $53.00 in a research note on Thursday, October 12th. Robert W. Baird reaffirmed a "neutral" rating and issued a $55.00 target price on shares of Wells Fargo & Company in a research report on Monday, January 8th. Barclays lifted their target price on Wells Fargo & Company from $54.00 to $66.00 and gave the company an "overweight" rating in a research report on Tuesday, January 2nd. Finally, The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, December 1st. Ten research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $51.43.
View Our Latest Stock Report on WFC
Wells Fargo & Company Company Profile
(
Free Report)
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Wells Fargo & Company, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wells Fargo & Company wasn't on the list.
While Wells Fargo & Company currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat's analysts have just released their top five short plays for February 2024. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
Get This Free Report
