New Mexico Educational Retirement Board Sells 8,200 Shares of Wells Fargo & Company (NYSE:WFC)

New Mexico Educational Retirement Board decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 4.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 162,316 shares of the financial services provider's stock after selling 8,200 shares during the quarter. New Mexico Educational Retirement Board's holdings in Wells Fargo & Company were worth $11,401,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in WFC. National Pension Service increased its position in shares of Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider's stock worth $383,532,000 after purchasing an additional 897,195 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in Wells Fargo & Company by 2.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider's stock worth $375,183,000 after buying an additional 162,066 shares during the last quarter. Nordea Investment Management AB increased its holdings in Wells Fargo & Company by 10.1% during the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider's stock worth $441,983,000 after buying an additional 575,892 shares during the last quarter. Two Sigma Advisers LP raised its position in Wells Fargo & Company by 730.4% during the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider's stock worth $336,375,000 after acquiring an additional 5,237,500 shares in the last quarter. Finally, Canoe Financial LP acquired a new stake in Wells Fargo & Company in the third quarter valued at $160,529,000. Institutional investors own 75.90% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a research report on Thursday, January 16th. Truist Financial boosted their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Piper Sandler raised their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. Finally, Citigroup lifted their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 19th. Eleven research 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 an average price target of $73.39.

Wells Fargo & Company Price Performance

NYSE:WFC traded down $0.40 during trading hours on Wednesday, reaching $80.38. 13,916,450 shares of the company were exchanged, compared to its average volume of 15,186,192. The company has a market capitalization of $267.63 billion, a P/E ratio of 14.94, a P/E/G ratio of 1.20 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The business has a 50 day moving average of $74.72 and a 200 day moving average of $66.55. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued 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 company had revenue of $20.38 billion for the quarter, compared to analysts' expectations of $20.58 billion. During the same quarter last year, the business earned $0.86 earnings per share. Wells Fargo & Company's revenue was down .5% on a year-over-year basis. Research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company's payout ratio is presently 29.74%.

Wells Fargo & 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.