Caisse de depot et placement du Quebec Acquires Shares of 2,987,358 Wells Fargo & Company $WFC

Caisse de depot et placement du Quebec purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,987,358 shares of the financial services provider's stock, valued at approximately $246,875,000. Caisse de depot et placement du Quebec owned approximately 0.10% of Wells Fargo & Company at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bryn Mawr Trust Advisors LLC acquired a new position in Wells Fargo & Company in the 2nd quarter valued at about $658,000. Swiss Life Asset Management Ltd increased its position in shares of Wells Fargo & Company by 4.2% during the 4th quarter. Swiss Life Asset Management Ltd now owns 350,567 shares of the financial services provider's stock worth $32,673,000 after purchasing an additional 14,168 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Wells Fargo & Company by 4.4% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 412,511 shares of the financial services provider's stock valued at $38,446,000 after buying an additional 17,302 shares during the period. Norges Bank purchased a new stake in Wells Fargo & Company in the 4th quarter valued at about $4,512,563,000. Finally, Winning Points Advisors LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at about $3,384,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Analysts Set New Price Targets

WFC has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their target price on shares of Wells Fargo & Company from $93.50 to $95.50 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. Bank of America increased their target price on Wells Fargo & Company from $95.00 to $102.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Raymond James Financial restated a "market perform" rating on shares of Wells Fargo & Company in a report on Tuesday, July 14th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Wells Fargo & Company in a research report on Friday, July 17th. Finally, Truist Financial increased their price objective on Wells Fargo & Company from $90.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, June 26th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $98.61.

Trending Headlines about Wells Fargo & Company

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Wells Fargo is stepping up efforts to recruit independent financial advisers after a reported $1.5 billion overhaul of its wealth-management business. Expanding the adviser network could increase assets under management, fee revenue and the division’s long-term growth prospects. Wells Fargo Makes New Push to Recruit Wealth Managers
• Positive Sentiment: A comparison with PNC Financial characterized WFC as offering a lower valuation and improving efficiency, supporting the view that the stock may have additional value potential despite PNC’s stronger growth and dividend yield. Wells Fargo vs. PNC Financial: Which Stock Offers Better Upside Now?
• Neutral Sentiment: The bank’s most recent quarterly results provide a supportive backdrop: earnings and revenue exceeded analyst expectations, with revenue rising year over year. However, the stock’s valuation and outlook remain sensitive to interest rates, loan growth and credit costs.
• Negative Sentiment: Wells Fargo is reportedly foreclosing on Workspace Property Trust’s $1.3 billion property portfolio after falling occupancy and asset values increased financial stress. Recovering collateral could limit losses, but the action underscores commercial real-estate exposure and potential pressure on credit quality. Wells Fargo Forecloses On $1.3B Workspace Property Trust Loan

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $85.00 on Friday. The stock has a market cap of $257.04 billion, a P/E ratio of 12.35, a price-to-earnings-growth ratio of 0.93 and a beta of 0.92. The company has a fifty day simple moving average of $86.19 and a 200-day simple moving average of $82.68. Wells Fargo & Company has a 12-month low of $72.78 and a 12-month high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.73 by $0.23. The company had revenue of $22.62 billion for the quarter, compared to analysts' expectations of $21.86 billion. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.Wells Fargo & Company's quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $1.60 earnings per share. Equities analysts expect that Wells Fargo & Company will post 7.26 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be given a $0.50 dividend. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. Wells Fargo & Company's payout ratio is currently 29.07%.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

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