Retirement Systems of Alabama Has $138.92 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Retirement Systems of Alabama trimmed its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 0.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,977,835 shares of the financial services provider's stock after selling 13,677 shares during the quarter. Retirement Systems of Alabama owned approximately 0.06% of Wells Fargo & Company worth $138,923,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Income Research & Management acquired a new position in Wells Fargo & Company during the 3rd quarter valued at about $211,000. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $30,000. Decker Retirement Planning Inc. bought a new position in Wells Fargo & Company in the 4th quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $35,000. Finally, Truvestments Capital LLC bought a new stake in Wells Fargo & Company during the 3rd quarter valued at $29,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Stock Up 1.4 %

Shares of WFC traded up $1.13 during mid-day trading on Thursday, reaching $81.18. The company's stock had a trading volume of 8,466,728 shares, compared to its average volume of 14,739,492. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $81.37. 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 company has a market cap of $270.27 billion, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 1.19 and a beta of 1.18. The business has a fifty day moving average of $73.72 and a 200 day moving average of $65.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business's quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the company posted $0.86 EPS. As a group, analysts forecast that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 1.97%. Wells Fargo & Company's payout ratio is 29.74%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Evercore ISI raised their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Citigroup boosted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 19th. Truist Financial increased their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Morgan Stanley boosted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $61.00 price target on shares of Wells Fargo & Company in a research note on Monday, October 14th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $73.39.

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.