New York State Teachers Retirement System Has $214.99 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

New York State Teachers Retirement System reduced its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,060,828 shares of the financial services provider's stock after selling 248,147 shares during the quarter. Wells Fargo & Company comprises 0.5% of New York State Teachers Retirement System's holdings, making the stock its 28th largest position. New York State Teachers Retirement System owned 0.09% of Wells Fargo & Company worth $214,993,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of WFC. Two Sigma Advisers LP boosted its holdings in Wells Fargo & Company by 730.4% in the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider's stock valued at $336,375,000 after purchasing an additional 5,237,500 shares during the period. Canoe Financial LP bought a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $160,529,000. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Wells Fargo & Company by 158.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider's stock valued at $153,069,000 after buying an additional 1,659,716 shares during the period. Artemis Investment Management LLP grew its position in Wells Fargo & Company by 410.8% during the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider's stock worth $96,567,000 after buying an additional 1,105,679 shares in the last quarter. Finally, National Pension Service increased its stake in Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider's stock worth $383,532,000 after acquiring an additional 897,195 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WFC. Keefe, Bruyette & Woods increased their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a report on Thursday, January 16th. Barclays increased their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Piper Sandler boosted their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Finally, Truist Financial lifted their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $73.39.

Wells Fargo & Company Trading Up 0.9 %

Shares of WFC stock traded up $0.73 during mid-day trading on Tuesday, reaching $80.71. 15,316,468 shares of the stock traded hands, compared to its average volume of 15,227,039. The company has a market cap of $268.72 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The stock's fifty day simple moving average is $74.55 and its two-hundred day simple moving average is $66.35. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter last year, the business earned $0.86 EPS. The firm's quarterly revenue was down .5% on a year-over-year basis. On average, research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.98%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 29.74%.

Wells Fargo & Company 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.