Wells Fargo & Company (NYSE:WFC) Holdings Decreased by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 162,316 shares of the financial services provider’s stock after selling 8,200 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Wells Fargo & Company were worth $11,401,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Income Research & Management bought a new stake in Wells Fargo & Company in the third quarter worth about $211,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company in the fourth quarter worth about $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company in the fourth quarter worth about $30,000. Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company in the fourth quarter worth about $32,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in Wells Fargo & Company in the 4th quarter worth about $35,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $79.68 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a fifty-two week low of $48.62 and a fifty-two week high of $81.50. The stock’s 50-day moving average is $74.30 and its two-hundred day moving average is $65.96. The firm has a market cap of $265.29 billion, a P/E ratio of 14.81, a PEG ratio of 1.22 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 EPS. Analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is 29.74%.

Analysts Set New Price Targets

WFC has been the topic of a number of analyst reports. Compass Point lifted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Evercore ISI lifted their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Barclays lifted their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Morgan Stanley lifted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group lifted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $73.39.

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.