Wells Fargo & Company (NYSE:WFC) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its stake in Wells Fargo & Company (NYSE:WFC) by 4.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 707,950 shares of the financial services provider’s stock after selling 33,018 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Wells Fargo & Company were worth $49,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in WFC. Rialto Wealth Management LLC purchased a new position in Wells Fargo & Company in the fourth quarter worth approximately $26,000. Rakuten Securities Inc. raised its holdings in shares of Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 237 shares in the last quarter. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth $30,000. McClarren Financial Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth $30,000. Finally, Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 2.4 %

Shares of WFC stock opened at $72.79 on Thursday. The company has a market capitalization of $239.35 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The business’s 50 day moving average is $75.88 and its two-hundred day moving average is $69.22. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the previous year, the company posted $0.86 EPS. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. Equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. Wells Fargo & Company’s payout ratio is currently 29.74%.

Analyst Ratings Changes

A number of analysts have issued reports on WFC shares. 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 report on Friday, December 6th. Truist Financial raised their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Thursday, March 13th. Finally, Piper Sandler upped their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and an average target price of $74.39.

Wells Fargo & Company 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.