Wells Fargo & Company (NYSE:WFC) Shares Purchased by OPSEU Pension Plan Trust Fund

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OPSEU Pension Plan Trust Fund boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 3.6% in the third quarter, HoldingsChannel.com reports. The firm owned 95,784 shares of the financial services provider’s stock after acquiring an additional 3,293 shares during the period. Wells Fargo & Company accounts for approximately 0.7% of OPSEU Pension Plan Trust Fund’s investment portfolio, making the stock its 21st biggest holding. OPSEU Pension Plan Trust Fund’s holdings in Wells Fargo & Company were worth $2,222,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ausdal Financial Partners Inc. boosted its holdings in Wells Fargo & Company by 34.9% in the third quarter. Ausdal Financial Partners Inc. now owns 20,562 shares of the financial services provider’s stock worth $483,000 after purchasing an additional 5,314 shares during the period. Orion Portfolio Solutions LLC lifted its stake in Wells Fargo & Company by 4.2% in the second quarter. Orion Portfolio Solutions LLC now owns 51,802 shares of the financial services provider’s stock valued at $1,326,000 after buying an additional 2,108 shares during the last quarter. Bank of Nova Scotia lifted its stake in Wells Fargo & Company by 328.3% in the second quarter. Bank of Nova Scotia now owns 5,590,684 shares of the financial services provider’s stock valued at $143,122,000 after buying an additional 4,285,323 shares during the last quarter. Asset Dedication LLC lifted its stake in Wells Fargo & Company by 37.9% in the third quarter. Asset Dedication LLC now owns 20,045 shares of the financial services provider’s stock valued at $476,000 after buying an additional 5,511 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV bought a new stake in Wells Fargo & Company in the second quarter valued at $78,000. 67.25% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently weighed in on WFC shares. Morgan Stanley cut their price objective on shares of Wells Fargo & Company from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Friday, September 11th. ValuEngine cut Wells Fargo & Company from a “buy” rating to a “hold” rating in a research note on Thursday, October 1st. Odeon Capital Group raised Wells Fargo & Company from a “hold” rating to a “buy” rating in a research note on Wednesday, September 2nd. Atlantic Securities raised Wells Fargo & Company from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $28.00 to $30.00 in a research note on Wednesday, July 22nd. Finally, Compass Point raised Wells Fargo & Company from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Friday, November 6th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $31.07.

Shares of NYSE WFC traded down $0.06 during trading hours on Tuesday, hitting $24.84. The stock had a trading volume of 445,292 shares, compared to its average volume of 41,652,230. The company has a market capitalization of $102.95 billion, a P/E ratio of 66.05, a P/E/G ratio of 4.84 and a beta of 1.07. The firm’s 50-day moving average price is $23.29 and its two-hundred day moving average price is $25.03. Wells Fargo & Company has a 52 week low of $20.76 and a 52 week high of $54.75. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.85 and a current ratio of 0.87.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). Wells Fargo & Company had a net margin of 3.72% and a return on equity of 3.18%. The firm had revenue of $18.86 billion during the quarter, compared to the consensus estimate of $17.87 billion. During the same period in the previous year, the firm posted $0.92 EPS. The company’s quarterly revenue was down 14.3% compared to the same quarter last year. As a group, analysts expect that Wells Fargo & Company will post 0.48 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 6th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.61%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 9.13%.

Wells Fargo & Company Profile

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. It operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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