National Pension Service Boosts Stake in Wells Fargo & Company $WFC

National Pension Service raised its position in Wells Fargo & Company (NYSE:WFC) by 0.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,417,035 shares of the financial services provider’s stock after purchasing an additional 7,962 shares during the quarter. National Pension Service owned 0.20% of Wells Fargo & Company worth $514,133,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Management Partners LLC lifted its position in Wells Fargo & Company by 3.5% during the second quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock valued at $313,000 after buying an additional 128 shares in the last quarter. Verum Partners LLC increased its position in shares of Wells Fargo & Company by 1.8% in the second quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock worth $582,000 after acquiring an additional 128 shares in the last quarter. Motive Wealth Advisors increased its position in shares of Wells Fargo & Company by 3.7% in the second quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock worth $293,000 after acquiring an additional 129 shares in the last quarter. Exencial Wealth Advisors LLC raised its stake in shares of Wells Fargo & Company by 0.7% in the 2nd quarter. Exencial Wealth Advisors LLC now owns 18,009 shares of the financial services provider’s stock valued at $1,443,000 after acquiring an additional 131 shares during the period. Finally, Yukon Wealth Management Inc. lifted its holdings in shares of Wells Fargo & Company by 4.3% during the 2nd quarter. Yukon Wealth Management Inc. now owns 3,179 shares of the financial services provider’s stock valued at $255,000 after acquiring an additional 132 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WFC. The Goldman Sachs Group decreased their price target on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Dbs Bank raised Wells Fargo & Company to a “moderate buy” rating in a research report on Tuesday, October 21st. Truist Financial increased their target price on Wells Fargo & Company from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Morgan Stanley raised their target price on Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. Finally, Phillip Securities lowered Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Eleven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Trading Up 0.1%

NYSE:WFC opened at $86.21 on Wednesday. The stock has a market cap of $270.61 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22. Wells Fargo & Company has a one year low of $58.42 and a one year high of $88.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The business’s 50-day simple moving average is $83.42 and its 200 day simple moving average is $79.67.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The firm had revenue of $21.44 billion during the quarter, compared to analyst estimates of $21.11 billion. During the same quarter last year, the firm earned $1.42 EPS. Wells Fargo & Company’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s payout ratio is 29.61%.

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.