OMERS ADMINISTRATION Corp raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 22.9% in the first quarter, Holdings Channel.com reports. The firm owned 233,302 shares of the financial services provider’s stock after buying an additional 43,416 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Wells Fargo & Company were worth $18,573,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of WFC. Godfrey Financial Associates Inc. purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $25,000. Miller Capital Partners Inc. bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth $25,000. Navalign LLC acquired a new stake in Wells Fargo & Company in the fourth quarter valued at $26,000. Joseph Group Capital Management acquired a new stake in Wells Fargo & Company in the fourth quarter valued at $28,000. Finally, Phillip James Consulting Co. acquired a new stake in Wells Fargo & Company in the first quarter valued at $28,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts have weighed in on WFC shares. Barclays decreased their price objective on shares of Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, April 15th. Robert W. Baird upped their target price on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Bank of America increased their price target on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Raymond James Financial reiterated a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. Finally, Keefe, Bruyette & Woods lowered their price objective on Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating for the company in a report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $98.50.
Wells Fargo & Company Stock Performance
Wells Fargo & Company stock opened at $86.39 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76. The company has a fifty day moving average price of $82.72 and a two-hundred day moving average price of $83.51. The company has a market cap of $264.37 billion, a PE ratio of 12.56, a P/E/G ratio of 0.94 and a beta of 0.92.
Wells Fargo & Company Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. Wells Fargo & Company’s payout ratio is 26.16%.
Wells Fargo & Company Profile
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.
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