Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 9,770 Shares of Wells Fargo & Company $WFC

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its holdings in Wells Fargo & Company (NYSE:WFC) by 1.3% during the first quarter, Holdings Channel reports. The firm owned 720,399 shares of the financial services provider’s stock after selling 9,770 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Wells Fargo & Company were worth $57,351,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WFC. Diversified Trust Co. boosted its position in shares of Wells Fargo & Company by 59.7% during the 4th quarter. Diversified Trust Co. now owns 35,285 shares of the financial services provider’s stock valued at $3,289,000 after acquiring an additional 13,196 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Wells Fargo & Company by 19.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 532,300 shares of the financial services provider’s stock worth $49,610,000 after purchasing an additional 84,902 shares during the last quarter. Swiss Life Asset Management Ltd increased its position in Wells Fargo & Company by 4.2% in the fourth quarter. Swiss Life Asset Management Ltd now owns 350,567 shares of the financial services provider’s stock worth $32,673,000 after purchasing an additional 14,168 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Wells Fargo & Company by 4.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 412,511 shares of the financial services provider’s stock valued at $38,446,000 after purchasing an additional 17,302 shares in the last quarter. Finally, Achmea Investment Management B.V. lifted its position in Wells Fargo & Company by 12.8% during the third quarter. Achmea Investment Management B.V. now owns 283,582 shares of the financial services provider’s stock valued at $23,770,000 after purchasing an additional 32,094 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WFC. JPMorgan Chase & Co. boosted their target price on shares of Wells Fargo & Company from $86.50 to $93.50 and gave the stock a “neutral” rating in a report on Monday, July 6th. The Goldman Sachs Group dropped their price target on Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating for the company in a research report on Monday, March 23rd. KGI Securities cut Wells Fargo & Company to a “hold” rating in a research note on Thursday, April 16th. HSBC upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research report on Wednesday, April 1st. Finally, Barclays dropped their target price on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, April 15th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.34.

Wells Fargo & Company Trading Up 0.2%

NYSE WFC traded up $0.16 during trading on Friday, hitting $87.07. The stock had a trading volume of 14,053,458 shares, compared to its average volume of 13,508,680. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $266.46 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 1.00 and a beta of 0.92. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76. The stock has a 50 day simple moving average of $80.67 and a 200 day simple moving average of $84.03.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.02. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The firm had revenue of $11.62 billion for the quarter, compared to analysts’ expectations of $21.85 billion. During the same quarter in the prior year, the firm posted $1.39 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. Sell-side analysts predict that Wells Fargo & Company will post 6.98 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio is 27.78%.

Key Stories Impacting Wells Fargo & Company

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Analysts and market commentary remain upbeat on Wells Fargo’s upcoming results, with expectations for higher net interest income and fee income to support earnings. The stock is also benefiting from a “moderate buy” consensus and renewed interest in bank earnings ahead of the reporting season.
• Positive Sentiment: Wells Fargo was cited as a bullish name in sector research, and the broader banking group is seen as positioned for solid Q2 results, which could lift financial stocks if the trend holds.
• Neutral Sentiment: Recent articles focused on Wells Fargo mostly previewed the earnings release rather than delivering new company-specific news, so investors are still waiting for a catalyst from the actual report.
• Neutral Sentiment: Broader market news was mixed but relatively calm, with futures drifting and investors waiting for inflation data and earnings season, which suggests WFC’s move is more tied to positioning than to any fresh negative headline.

Wells Fargo & Company 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.