Strs Ohio Makes New $109.64 Million Investment in Wells Fargo & Company $WFC

Strs Ohio bought a new position in Wells Fargo & Company (NYSE:WFC) in the first quarter, HoldingsChannel reports. The fund bought 1,527,279 shares of the financial services provider’s stock, valued at approximately $109,643,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Accent Capital Management LLC acquired a new stake in shares of Wells Fargo & Company during the 1st quarter valued at about $29,000. Motco boosted its stake in shares of Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 326 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in shares of Wells Fargo & Company in the 1st quarter valued at $34,000. Orion Capital Management LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $35,000. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in shares of Wells Fargo & Company in the 1st quarter valued at $36,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

WFC has been the subject of a number of research analyst reports. Bank of America boosted their target price on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Citigroup reissued a “neutral” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. TD Cowen began coverage on shares of Wells Fargo & Company in a research note on Thursday, May 15th. They issued a “hold” rating and a $83.00 target price for the company. Finally, Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $82.56.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $80.29 on Thursday. The company has a market capitalization of $257.20 billion, a PE ratio of 13.75, a P/E/G ratio of 1.26 and a beta of 1.25. The company has a 50 day simple moving average of $80.47 and a two-hundred day simple moving average of $75.09. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. Wells Fargo & Company has a fifty-two week low of $50.22 and a fifty-two week high of $84.83.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. The business had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.33 EPS. Research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were given a dividend of $0.45 per share. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. Wells Fargo & Company’s payout ratio is 30.82%.

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.