Wells Fargo & Company $WFC Shares Bought by TIAA Trust National Association

TIAA Trust National Association lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 24.6% during the second quarter, Holdings Channel reports. The firm owned 515,353 shares of the financial services provider’s stock after acquiring an additional 101,877 shares during the quarter. TIAA Trust National Association’s holdings in Wells Fargo & Company were worth $41,290,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Wells Fargo & Company by 2,735,254.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock worth $76,095,550,000 after buying an additional 949,735,001 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Wells Fargo & Company by 277.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock valued at $771,092,000 after buying an additional 7,894,919 shares during the last quarter. Strs Ohio acquired a new stake in shares of Wells Fargo & Company in the first quarter valued at approximately $109,643,000. Canada Pension Plan Investment Board grew its position in shares of Wells Fargo & Company by 34.6% during the first quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock worth $381,016,000 after acquiring an additional 1,365,629 shares during the last quarter. Finally, Phoenix Financial Ltd. grew its position in shares of Wells Fargo & Company by 437.6% during the second quarter. Phoenix Financial Ltd. now owns 1,312,103 shares of the financial services provider’s stock worth $105,120,000 after acquiring an additional 1,068,040 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Up 1.4%

WFC stock opened at $87.19 on Friday. Wells Fargo & Company has a one year low of $58.42 and a one year high of $87.47. The stock has a market capitalization of $279.30 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 1.18 and a beta of 1.25. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The company has a fifty day moving average of $82.75 and a 200-day moving average of $78.59.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. The business had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.42 earnings per share. As a group, analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, November 7th. This represents a $1.80 annualized dividend and a yield of 2.1%. Wells Fargo & Company’s payout ratio is presently 29.61%.

Analyst Upgrades and Downgrades

Several research firms recently commented on WFC. Barclays upped their price target on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Piper Sandler restated an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Phillip Securities cut shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, October 15th. Finally, Morgan Stanley boosted their price target on Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average price target of $89.57.

About Wells Fargo & Company

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.