VIRGINIA RETIREMENT SYSTEMS ET Al Has $27.92 Million Holdings in Wells Fargo & Company $WFC

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 54.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 333,100 shares of the financial services provider’s stock after selling 390,300 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Wells Fargo & Company were worth $27,920,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Access Investment Management LLC bought a new position in shares of Wells Fargo & Company during the second quarter valued at $25,000. CBIZ Investment Advisory Services LLC grew its holdings in shares of Wells Fargo & Company by 585.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 322 shares during the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter worth about $27,000. 1248 Management LLC bought a new position in Wells Fargo & Company during the 1st quarter valued at about $31,000. Finally, Kilter Group LLC bought a new position in Wells Fargo & Company during the 2nd quarter valued at about $31,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Down 0.2%

NYSE:WFC opened at $94.30 on Wednesday. The company has a market cap of $296.02 billion, a price-to-earnings ratio of 15.51, a P/E/G ratio of 0.98 and a beta of 1.11. 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 stock’s fifty day moving average price is $88.29 and its two-hundred day moving average price is $83.39. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $95.85.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, beating the consensus estimate of $1.55 by $0.18. The company had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $1.42 EPS. On average, analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were given a dividend of $0.45 per share. The ex-dividend date was Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a yield of 1.9%. Wells Fargo & Company’s dividend payout ratio is presently 29.61%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Bank of America upped their price objective on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Morgan Stanley increased their price target on Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Truist Financial raised their price target on Wells Fargo & Company from $90.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Keefe, Bruyette & Woods lifted their price objective on Wells Fargo & Company from $92.00 to $101.00 and gave the company a “market perform” rating in a research report on Wednesday, December 17th. Finally, TD Cowen increased their target price on Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average target price of $92.04.

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.