Wells Fargo & Company $WFC Position Boosted by National Pension Service

National Pension Service increased its position in Wells Fargo & Company (NYSE:WFC) by 0.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,417,035 shares of the financial services provider’s stock after purchasing an additional 7,962 shares during the period. National Pension Service’s holdings in Wells Fargo & Company were worth $514,133,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Access Investment Management LLC acquired a new position in shares of Wells Fargo & Company in the 2nd quarter worth approximately $25,000. McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC lifted its stake in Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 322 shares during the last quarter. Accent Capital Management LLC acquired a new position in Wells Fargo & Company in the first quarter worth $29,000. Finally, Motco boosted its holdings in Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 326 shares during the period. 75.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WFC has been the subject of several research reports. UBS Group decreased their price target on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Truist Financial boosted their price objective on Wells Fargo & Company from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. The Goldman Sachs Group lowered their price objective on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Cowen reiterated a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, October 15th. Finally, Weiss Ratings upgraded shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Price Performance

Shares of WFC opened at $86.21 on Wednesday. Wells Fargo & Company has a one year low of $58.42 and a one year high of $88.50. The stock’s fifty day moving average is $83.42 and its 200-day moving average is $79.67. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $270.61 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The firm had revenue of $21.44 billion during the quarter, compared to analyst estimates of $21.11 billion. During the same quarter in the prior year, the firm posted $1.42 EPS. Wells Fargo & Company’s revenue was up 5.3% compared to the same quarter last year. Equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.61%.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.