OMERS ADMINISTRATION Corp Sells 14,094 Shares of Wells Fargo & Company $WFC

Key Points

• OMERS ADMINISTRATION Corp has reduced its stake in Wells Fargo & Company by 6.8%, selling 14,094 shares, leaving them with a total of 192,086 shares valued at approximately $13.79 million.
• Wells Fargo recently announced a dividend increase, raising its quarterly payout from $0.40 to $0.45, resulting in an annualized yield of 2.2%.
• The company reported earnings of $1.54 per share for the last quarter, surpassing analyst expectations and reflecting a year-over-year revenue increase of 0.6%.

OMERS ADMINISTRATION Corp lessened its holdings in Wells Fargo & Company (NYSE:WFC) by 6.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 192,086 shares of the financial services provider's stock after selling 14,094 shares during the period. OMERS ADMINISTRATION Corp's holdings in Wells Fargo & Company were worth $13,790,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in WFC. BNP Paribas bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at about $28,000. Accent Capital Management LLC bought a new stake in shares of Wells Fargo & Company during the 1st quarter worth about $29,000. Motco grew its stake in Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider's stock valued at $29,000 after buying an additional 326 shares during the last quarter. Parvin Asset Management LLC bought a new position in Wells Fargo & Company in the 4th quarter valued at about $32,000. Finally, Stone House Investment Management LLC bought a new position in Wells Fargo & Company in the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $82.58 on Thursday. The business has a fifty day moving average price of $80.03 and a two-hundred day moving average price of $74.98. The stock has a market capitalization of $264.54 billion, a PE ratio of 14.14, a P/E/G ratio of 1.27 and a beta of 1.20. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. Wells Fargo & Company has a fifty-two week low of $50.22 and a fifty-two week high of $84.83.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The company had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. During the same period in the prior year, the firm posted $1.33 EPS. Wells Fargo & Company's quarterly revenue was up .6% on a year-over-year basis. As a group, equities analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 8th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.80 annualized dividend and a yield of 2.2%. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.40. Wells Fargo & Company's payout ratio is 30.82%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WFC shares. Dbs Bank upgraded Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Citigroup reiterated a "neutral" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Evercore ISI restated an "outperform" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. TD Cowen started coverage on Wells Fargo & Company in a report on Thursday, May 15th. They issued a "hold" rating and a $83.00 price objective on the stock. Finally, The Goldman Sachs Group lowered their price objective on Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Wells Fargo & Company has an average rating of "Moderate Buy" and a consensus target price of $81.58.

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.

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