Illinois Municipal Retirement Fund Sells 22,504 Shares of Wells Fargo & Company (NYSE:WFC)

Illinois Municipal Retirement Fund cut its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 5.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of WFC. Truvestments Capital LLC bought a new stake in Wells Fargo & Company in the third quarter worth $29,000. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $30,000. Decker Retirement Planning Inc. bought a new position in Wells Fargo & Company in the 4th quarter worth approximately $32,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Wells Fargo & Company during the third quarter worth approximately $34,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock traded up $0.39 during trading hours on Wednesday, hitting $76.39. 13,360,682 shares of the stock were exchanged, compared to its average volume of 15,064,693. The stock has a market capitalization of $254.34 billion, a P/E ratio of 14.20, a P/E/G ratio of 1.18 and a beta of 1.18. The business's 50-day moving average is $75.40 and its two-hundred day moving average is $67.44. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same period in the prior year, the company earned $0.86 EPS. Wells Fargo & Company's revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company's dividend payout ratio is currently 29.74%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WFC. UBS Group boosted their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Truist Financial boosted their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Piper Sandler lifted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Finally, Compass Point boosted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $73.39.

About Wells Fargo & Company

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.