Wells Fargo & Company $WFC Position Increased by Canada Post Corp Registered Pension Plan

Canada Post Corp Registered Pension Plan boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 93.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 195,421 shares of the financial services provider’s stock after buying an additional 94,151 shares during the quarter. Wells Fargo & Company accounts for about 0.7% of Canada Post Corp Registered Pension Plan’s investment portfolio, making the stock its 26th largest 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 SEC.

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

Wells Fargo & Company Trading Up 2.1%

NYSE:WFC opened at $93.93 on Friday. The company has a market capitalization of $294.85 billion, a P/E ratio of 14.98, a P/E/G ratio of 1.01 and a beta of 1.09. The stock’s 50 day moving average price is $91.64 and its 200 day moving average price is $85.66. 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 has a 52 week low of $58.42 and a 52 week high of $97.76.

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

Wells Fargo & Company Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. Evercore cut their price objective on Wells Fargo & Company from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, January 15th. Wolfe Research restated an “outperform” rating and set a $109.00 price target on shares of Wells Fargo & Company in a report on Wednesday, January 7th. Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Wednesday, October 15th. Barclays lifted their price objective on shares of Wells Fargo & Company from $94.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Finally, Robert W. Baird lowered Wells Fargo & Company from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. Thirteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.92.

About Wells Fargo & Company

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.