Wells Fargo & Company $WFC Shares Purchased by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 153,916 shares of the financial services provider’s stock after buying an additional 7,000 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Wells Fargo & Company were worth $12,720,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WFC. Godfrey Financial Associates Inc. purchased a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $25,000. Miller Capital Partners Inc. acquired a new position in Wells Fargo & Company during the fourth quarter worth approximately $25,000. Navalign LLC purchased a new position in Wells Fargo & Company during the fourth quarter worth approximately $26,000. Core Wealth Advisors LLC purchased a new position in Wells Fargo & Company during the fourth quarter worth approximately $29,000. Finally, Strive Financial Group LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Raymond James Financial restated a “market perform” rating on shares of Wells Fargo & Company in a report on Tuesday, July 14th. JPMorgan Chase & Co. boosted their price target on Wells Fargo & Company from $93.50 to $95.50 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a report on Friday, July 17th. Finally, Morgan Stanley lifted their price objective on Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.61.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $86.62 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. The company has a market cap of $261.94 billion, a PE ratio of 12.59, a P/E/G ratio of 0.92 and a beta of 0.92. The company’s fifty day simple moving average is $86.27 and its 200-day simple moving average is $82.71. Wells Fargo & Company has a 52 week low of $72.78 and a 52 week high of $97.76.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.23. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The firm had revenue of $22.62 billion during the quarter, compared to analysts’ expectations of $21.86 billion. During the same period in the prior year, the company earned $1.60 EPS. The firm’s revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts anticipate that Wells Fargo & Company will post 7.26 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be paid a dividend of $0.50 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, August 7th. Wells Fargo & Company’s payout ratio is presently 29.07%.

Trending Headlines about Wells Fargo & Company

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Wells Fargo is reportedly seeking to recruit hundreds of independent financial advisers, expanding its Wealth & Investment Management division and targeting affluent and high-net-worth clients. The initiative builds on a multiyear overhaul and could support fee-based revenue, asset growth and deeper customer relationships. WFC Broadens Wealth Focus: Can Its Multi-Year Revamp Drive Growth?
• Positive Sentiment: The wealth-management push follows an approximately $1.5 billion revamp and emphasizes independent advisers who can use Wells Fargo’s platform and infrastructure. Successful hiring and retention could improve the division’s long-term growth prospects, although benefits will take time to materialize. Wells Fargo Steps Up Wealth Hiring After $1.5 Billion Revamp
• Neutral Sentiment: Analysts collectively maintain a “Moderate Buy” recommendation for Wells Fargo. The rating indicates generally constructive sentiment, but it does not represent a new earnings forecast or a clearly identifiable catalyst. Wells Fargo Given Average Recommendation of Moderate Buy by Analysts
• Neutral Sentiment: A market-focused report noted that WFC advanced even as the broader market declined, suggesting relative investor support. The article did not identify a major new earnings announcement, guidance change or regulatory development behind the move. Wells Fargo Gains As Market Dips: What You Should Know

Wells Fargo & Company 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.