Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust Makes New Investment in Wells Fargo & Company $WFC

Key Points

• Retail Employees Superannuation Trust opened a new position in Wells Fargo in the fourth quarter, buying 65,939 shares valued at about $6.15 million. The stake now represents roughly 1.6% of the fund’s holdings and is its 24th largest position.
• Wall Street remains broadly positive on Wells Fargo, with analysts assigning an average rating of “Moderate Buy” and an average price target of $97.53. Several firms reiterated or initiated bullish calls, though some targets were trimmed.
• Wells Fargo reported better-than-expected EPS of $1.60 in its latest quarterly results and also announced a quarterly dividend of $0.45 per share. The stock was trading at $76.02 in the article, below its recent highs and still facing some legal and regulatory overhangs.

Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust purchased a new position in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 65,939 shares of the financial services provider's stock, valued at approximately $6,146,000. Wells Fargo & Company comprises approximately 1.6% of Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust's holdings, making the stock its 24th largest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in WFC. Navalign LLC purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth $26,000. Redmont Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company in the third quarter worth $27,000. Joseph Group Capital Management purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth $28,000. Imprint Wealth LLC purchased a new position in shares of Wells Fargo & Company in the third quarter worth $31,000. Finally, Cloud Capital Management LLC purchased a new position in shares of Wells Fargo & Company in the third quarter worth $37,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WFC. Evercore reissued an "outperform" rating on shares of Wells Fargo & Company in a report on Friday, March 6th. UBS Group reaffirmed a "buy" rating and issued a $113.00 price target on shares of Wells Fargo & Company in a report on Wednesday, February 4th. Jefferies Financial Group began coverage on shares of Wells Fargo & Company in a report on Thursday, March 26th. They issued a "buy" rating and a $100.00 price target on the stock. Robert W. Baird raised shares of Wells Fargo & Company from an "underperform" rating to a "neutral" rating and set a $85.00 price target on the stock in a report on Friday, February 13th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Wells Fargo & Company from $101.00 to $98.00 and set a "market perform" rating on the stock in a report on Wednesday, April 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $97.53.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $76.02 on Thursday. Wells Fargo & Company has a one year low of $71.93 and a one year high of $97.76. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $232.65 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 0.91 and a beta of 0.96. The firm's fifty day moving average is $79.02 and its two-hundred day moving average is $85.03.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, beating the consensus estimate of $1.58 by $0.02. The company had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The firm's revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.39 earnings per share. Research analysts expect that Wells Fargo & Company will post 6.84 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, May 8th. Wells Fargo & Company's dividend payout ratio (DPR) is currently 27.78%.

Wells Fargo & Company News Roundup

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

• Positive Sentiment: CEO Charlie Scharf said Wells Fargo expects investment banking and trading revenue to grow by mid-teen percentages in the second quarter, signaling improving fee-based momentum and helping support the bank’s earnings outlook. Wells Fargo CEO sees mid-teens growth in investment banking, trading
• Positive Sentiment: Wells Fargo also highlighted mortgage incentives tied to ICON’s 3D-printed homes, showing efforts to expand lending opportunities and grow originations in niche housing markets. Wells Fargo to offer mortgage incentives on 3D printed homes with Icon
• Neutral Sentiment: The company presented at Bernstein’s Strategic Decisions Conference, which may have kept Wells Fargo in focus but did not by itself add a major new catalyst. Wells Fargo & Company (WFC) Presents at Bernstein 42nd Annual Strategic Decisions Conference Transcript
• Neutral Sentiment: Several articles reiterated Wells Fargo as a dividend stock and discussed its longer-term recovery potential, but these were largely commentary pieces rather than new fundamental developments. Wells Fargo (WFC) is a Top Dividend Stock Right Now: Should You Buy?
• Negative Sentiment: Recent coverage noted that WFC shares have fallen sharply year to date and were down again after a six-day rally, suggesting investors are still wary about the stock’s near-term momentum. Wells Fargo (WFC) Stock Falls Amid Market Uptick: What Investors Need to Know
• Negative Sentiment: Investor attention also remains on Wells Fargo’s still-elevated legal and regulatory overhangs, including a reported $100 million settlement tied to struggling homebuyers. Wells Fargo settlement will pay 100M to help struggling homebuyers in 51 cities

Wells Fargo & 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.

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.