United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Purchases 156,174 Shares of Wells Fargo & Company $WFC

by · The Markets Daily

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund boosted its position in shares of Wells Fargo & Company (NYSE:WFC – Free Report) by 144.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 264,219 shares of the financial services provider’s stock after acquiring an additional 156,174 shares during the quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in Wells Fargo & Company were worth $21,169,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in Wells Fargo & Company by 10.4% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock valued at $54,471,000 after acquiring an additional 71,740 shares during the period. Three Bridge Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company in the second quarter valued at about $364,000. Allianz SE lifted its stake in shares of Wells Fargo & Company by 22.6% during the 1st quarter. Allianz SE now owns 212,335 shares of the financial services provider’s stock worth $15,244,000 after buying an additional 39,150 shares during the last quarter. NatWest Group plc boosted its holdings in shares of Wells Fargo & Company by 4.6% during the 1st quarter. NatWest Group plc now owns 180,418 shares of the financial services provider’s stock worth $12,952,000 after buying an additional 7,934 shares during the period. Finally, Board of the Pension Protection Fund bought a new stake in shares of Wells Fargo & Company during the 2nd quarter worth about $40,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $85.61 on Thursday. The company has a market cap of $268.75 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 1.18 and a beta of 1.22. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $88.64. 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 has a fifty day moving average price of $84.20 and a 200-day moving average price of $80.55.

Wells Fargo & Company (NYSE:WFC – Get Free Report) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.18. The company had revenue of $21.44 billion for 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%.Wells Fargo & Company’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $1.42 earnings per share. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be given a $0.45 dividend. The ex-dividend date is Friday, November 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. Wells Fargo & Company’s payout ratio is presently 29.61%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WFC. Bank of America boosted their price objective on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Keefe, Bruyette & Woods boosted their price target on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, October 15th. Dbs Bank raised Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. TD Cowen lifted 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. Finally, Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and an average price target of $89.57.

Read Our Latest Stock Report on WFC

Wells Fargo & Company Company Profile

(Free Report)

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.

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