Wells Fargo & Company (NYSE:WFC) Position Boosted by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 17.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 506,707 shares of the financial services provider’s stock after acquiring an additional 75,646 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Wells Fargo & Company were worth $24,940,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Fortis Group Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the third quarter worth $25,000. Arlington Trust Co LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $25,000. Leith Wheeler Investment Counsel Ltd. lifted its holdings in shares of Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after buying an additional 356,620 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new position in Wells Fargo & Company during the fourth quarter valued at about $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC traded up $0.77 during midday trading on Monday, hitting $61.12. The company had a trading volume of 21,751,184 shares, compared to its average volume of 19,013,531. Wells Fargo & Company has a twelve month low of $36.40 and a twelve month high of $61.49. The company has a market capitalization of $216.39 billion, a PE ratio of 12.76, a P/E/G ratio of 1.17 and a beta of 1.19. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The firm’s 50-day simple moving average is $56.12 and its 200-day simple moving average is $49.12.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter in the previous year, the company posted $1.23 EPS. Wells Fargo & Company’s revenue was up .6% on a year-over-year basis. Equities research analysts predict that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.29%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio is 29.23%.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of recent analyst reports. Compass Point reissued a “neutral” rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Citigroup restated a “neutral” rating and set a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Evercore ISI boosted their price target on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $62.00 price objective (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Thirteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.