TIAA Trust National Association Decreases Stake in Wells Fargo & Company (NYSE:WFC)

TIAA Trust National Association lessened its stake in Wells Fargo & Company (NYSE:WFC) by 15.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 88,669 shares of the financial services provider’s stock after selling 16,131 shares during the quarter. TIAA Trust National Association’s holdings in Wells Fargo & Company were worth $4,364,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in WFC. Norges Bank purchased a new stake in Wells Fargo & Company during the fourth quarter worth approximately $2,049,693,000. Moneta Group Investment Advisors LLC lifted its stake in Wells Fargo & Company by 129,312.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock worth $1,085,410,000 after purchasing an additional 26,267,166 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Wells Fargo & Company by 1,478.6% during the first quarter. Renaissance Technologies LLC now owns 8,390,611 shares of the financial services provider’s stock worth $406,609,000 after purchasing an additional 7,859,100 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in Wells Fargo & Company during the first quarter worth approximately $345,861,000. Finally, Imprint Wealth LLC lifted its stake in Wells Fargo & Company by 4,238.0% during the second quarter. Imprint Wealth LLC now owns 4,284,901 shares of the financial services provider’s stock worth $428,490,000 after purchasing an additional 4,186,124 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $57.36 on Wednesday. The business’s 50-day moving average price is $53.61 and its 200 day moving average price is $47.37. Wells Fargo & Company has a twelve month low of $36.27 and a twelve month high of $58.44. The company has a market capitalization of $203.08 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.20 and a beta of 1.19. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.24.

Wells Fargo & Company (NYSE:WFCGet Free Report) last released its earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.30). The business had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.30 billion. Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.67 earnings per share. On average, research analysts predict that Wells Fargo & Company will post 4.72 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were paid a $0.35 dividend. The ex-dividend date was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.44%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.05%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on WFC shares. Odeon Capital Group lowered Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 target price on the stock. in a report on Thursday, January 18th. The Goldman Sachs Group upped their price objective on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a report on Monday. Evercore ISI upped their price objective on Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Barclays upped their price objective on Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a report on Tuesday, March 19th. Twelve investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $56.68.

Check Out Our Latest Analysis on Wells Fargo & Company

Wells Fargo & Company Profile

(Free Report)

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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