Canada Post Corp Registered Pension Plan Has $16.54 Million Position in Wells Fargo & Company $WFC

Canada Post Corp Registered Pension Plan boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 93.0% in the third quarter, Holdings Channel reports. The firm owned 195,421 shares of the financial services provider’s stock after acquiring an additional 94,151 shares during the period. Wells Fargo & Company comprises about 0.7% of Canada Post Corp Registered Pension Plan’s holdings, making the stock its 26th biggest position. Canada Post Corp Registered Pension Plan’s holdings in Wells Fargo & Company were worth $16,542,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Concord Asset Management LLC VA lifted its stake in shares of Wells Fargo & Company by 8.6% in the third quarter. Concord Asset Management LLC VA now owns 15,139 shares of the financial services provider’s stock worth $1,269,000 after buying an additional 1,194 shares during the last quarter. Wellington Shields Capital Management LLC bought a new position in Wells Fargo & Company in the 3rd quarter worth $69,000. Concord Wealth Partners lifted its position in Wells Fargo & Company by 14.2% during the 3rd quarter. Concord Wealth Partners now owns 15,920 shares of the financial services provider’s stock worth $1,334,000 after acquiring an additional 1,975 shares during the last quarter. Wellington Shields & Co. LLC bought a new stake in Wells Fargo & Company during the third quarter valued at about $146,000. Finally, Prime Capital Investment Advisors LLC boosted its holdings in Wells Fargo & Company by 0.9% during the third quarter. Prime Capital Investment Advisors LLC now owns 43,401 shares of the financial services provider’s stock valued at $3,638,000 after acquiring an additional 404 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 2.1%

Shares of WFC stock opened at $93.93 on Friday. The firm has a fifty day moving average of $91.64 and a 200-day moving average of $85.66. The stock has a market cap of $294.85 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 1.01 and a beta of 1.09. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $97.76. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.84 and a current ratio of 0.90.

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

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 6th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, February 6th. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.71%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on WFC shares. Robert W. Baird cut Wells Fargo & Company from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 6th. HSBC reiterated a “hold” rating and set a $74.00 price target on shares of Wells Fargo & Company in a report on Wednesday, January 7th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Wednesday, January 21st. TD Cowen cut their target price on shares of Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, January 15th. Finally, Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Thirteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus target price of $95.92.

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.