Wells Fargo & Company (NYSE:WFC) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund trimmed its position in Wells Fargo & Company (NYSE:WFC) by 5.0% in the fourth quarter, Holdings Channel reports. The firm owned 430,159 shares of the financial services provider’s stock after selling 22,504 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Wells Fargo & Company were worth $30,214,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Modus Advisors LLC acquired a new position in Wells Fargo & Company in the fourth quarter worth about $30,000. McClarren Financial Advisors Inc. bought a new position in Wells Fargo & Company in the fourth quarter worth about $30,000. Decker Retirement Planning Inc. bought a new position in Wells Fargo & Company in the fourth quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Wells Fargo & Company in the fourth quarter worth about $35,000. Finally, BankPlus Trust Department bought a new position in Wells Fargo & Company in the fourth quarter worth about $35,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

WFC stock opened at $77.10 on Tuesday. The firm has a market cap of $256.72 billion, a P/E ratio of 14.33, a P/E/G ratio of 1.18 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The company’s 50-day moving average price is $75.30 and its two-hundred day moving average price is $67.28. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same period in the previous year, the firm posted $0.86 EPS. The firm’s revenue was down .5% on a year-over-year basis. On average, analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.08%. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of recent analyst reports. Truist Financial lifted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Compass Point boosted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Barclays boosted their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Piper Sandler boosted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Evercore ISI boosted their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Company Profile

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.