United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Has $21.17 Million Stock Position in Wells Fargo & Company $WFC

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 144.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 264,219 shares of the financial services provider’s stock after purchasing an additional 156,174 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in Wells Fargo & Company were worth $21,169,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of WFC. Access Investment Management LLC bought a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC increased its position in Wells Fargo & Company by 585.5% during the 1st 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 in the last quarter. McElhenny Sheffield Capital Management LLC bought a new position in Wells Fargo & Company in the 2nd quarter valued at approximately $27,000. Accent Capital Management LLC bought a new position in Wells Fargo & Company in the 1st quarter valued at approximately $29,000. Finally, 1248 Management LLC acquired a new stake in Wells Fargo & Company in the first quarter valued at approximately $31,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Up 0.6%

Shares of NYSE:WFC opened at $85.61 on Thursday. The firm has a market cap of $268.75 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.18 and a beta of 1.22. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $88.64. The business has a fifty day simple moving average of $84.20 and a 200 day simple moving average of $80.55. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.18. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. During the same quarter in the prior year, the firm posted $1.42 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Truist Financial upped their price target on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Bank of America boosted their price objective on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Citigroup upped their target price on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. UBS Group dropped their target price on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Finally, TD Cowen boosted their price target on Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Profile

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.