Wells Fargo & Company $WFC Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 1.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,600,740 shares of the financial services provider’s stock after acquiring an additional 21,066 shares during the period. Public Sector Pension Investment Board’s holdings in Wells Fargo & Company were worth $134,174,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Hilton Capital Management LLC bought a new stake in Wells Fargo & Company in the 2nd quarter valued at about $3,656,000. Mawer Investment Management Ltd. bought a new position in Wells Fargo & Company in the 3rd quarter worth about $147,165,000. Guerra Advisors Inc increased its stake in shares of Wells Fargo & Company by 43.2% in the third quarter. Guerra Advisors Inc now owns 38,439 shares of the financial services provider’s stock valued at $3,222,000 after purchasing an additional 11,594 shares during the period. AlphaQuest LLC increased its stake in shares of Wells Fargo & Company by 1,121.0% in the third quarter. AlphaQuest LLC now owns 24,079 shares of the financial services provider’s stock valued at $2,018,000 after purchasing an additional 22,107 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of Wells Fargo & Company by 54.2% in the third quarter. Smartleaf Asset Management LLC now owns 38,088 shares of the financial services provider’s stock valued at $3,224,000 after purchasing an additional 13,393 shares during the period. 75.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on WFC shares. Wolfe Research reiterated an “outperform” rating and set a $109.00 price objective on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. HSBC reiterated a “hold” rating and set a $74.00 price target on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. JPMorgan Chase & Co. raised their price target on Wells Fargo & Company from $99.00 to $99.50 and gave the company a “neutral” rating in a report on Monday. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Wednesday, January 21st. Finally, Robert W. Baird downgraded shares of Wells Fargo & Company from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. Thirteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus target price of $97.29.

Wells Fargo & Company Stock Down 3.1%

WFC opened at $86.18 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.84 and a current ratio of 0.90. The company has a market capitalization of $270.53 billion, a PE ratio of 13.74, a P/E/G ratio of 0.97 and a beta of 1.09. The stock’s fifty day moving average is $91.86 and its 200-day moving average is $85.85. Wells Fargo & Company has a one year low of $58.42 and a one year high of $97.76.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.10. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The firm had revenue of $11.97 billion for the quarter, compared to analyst estimates of $21.63 billion. During the same period in the previous year, the company earned $1.43 earnings per share. Wells Fargo & Company’s revenue was up 4.5% compared to the same quarter last year. On average, equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 6th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. Wells Fargo & Company’s payout ratio is currently 28.71%.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.