Commonwealth of Pennsylvania Public School Empls Retrmt SYS Reduces Position in Wells Fargo & Company $WFC

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 720,399 shares of the financial services provider’s stock after selling 9,770 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Wells Fargo & Company were worth $57,351,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Godfrey Financial Associates Inc. bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $25,000. Miller Capital Partners Inc. bought a new position in Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Navalign LLC bought a new position in Wells Fargo & Company during the fourth quarter valued at approximately $26,000. Joseph Group Capital Management purchased a new stake in Wells Fargo & Company in the fourth quarter worth approximately $28,000. Finally, Core Wealth Advisors LLC bought a new stake in Wells Fargo & Company in the 4th quarter worth approximately $29,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company News Summary

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

• Positive Sentiment: Analysts and market commentary remain upbeat on Wells Fargo’s upcoming results, with expectations for higher net interest income and fee income to support earnings. The stock is also benefiting from a “moderate buy” consensus and renewed interest in bank earnings ahead of the reporting season.
• Positive Sentiment: Wells Fargo was cited as a bullish name in sector research, and the broader banking group is seen as positioned for solid Q2 results, which could lift financial stocks if the trend holds.
• Neutral Sentiment: Recent articles focused on Wells Fargo mostly previewed the earnings release rather than delivering new company-specific news, so investors are still waiting for a catalyst from the actual report.
• Neutral Sentiment: Broader market news was mixed but relatively calm, with futures drifting and investors waiting for inflation data and earnings season, which suggests WFC’s move is more tied to positioning than to any fresh negative headline.

Analysts Set New Price Targets

A number of brokerages have weighed in on WFC. Bank of America boosted their target price on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Raymond James Financial initiated coverage on Wells Fargo & Company in a report on Wednesday. They issued a “market perform” rating for the company. Morgan Stanley increased their target price on Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Phillip Securities raised shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Finally, Jefferies Financial Group started coverage on shares of Wells Fargo & Company in a research report on Thursday, March 26th. They set a “buy” rating and a $100.00 target price for the company. Two equities research 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.34.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC traded up $0.16 during mid-day trading on Friday, reaching $87.07. 14,053,458 shares of the company traded hands, compared to its average volume of 13,508,680. The company’s 50 day moving average price is $80.67 and its 200-day moving average price is $84.03. The firm has a market cap of $266.46 billion, a PE ratio of 13.44, a PEG ratio of 1.00 and a beta of 0.92. Wells Fargo & Company has a 52 week low of $72.78 and a 52 week high of $97.76. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.90 and a quick ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.02. The company had revenue of $11.62 billion for the quarter, compared to analysts’ expectations of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.39 EPS. On average, equities analysts expect that Wells Fargo & Company will post 6.98 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were paid a dividend of $0.45 per share. The ex-dividend date was Friday, May 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. Wells Fargo & Company’s payout ratio is 27.78%.

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.