Teacher Retirement System of Texas Has $156.60 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Teacher Retirement System of Texas grew its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 14.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,229,521 shares of the financial services provider's stock after acquiring an additional 274,886 shares during the quarter. Wells Fargo & Company comprises approximately 0.6% of Teacher Retirement System of Texas' holdings, making the stock its 23rd largest position. Teacher Retirement System of Texas owned approximately 0.07% of Wells Fargo & Company worth $156,602,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Spinnaker Trust grew its holdings in shares of Wells Fargo & Company by 1.8% during the 4th quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider's stock worth $520,000 after purchasing an additional 130 shares in the last quarter. MONECO Advisors LLC lifted its position in Wells Fargo & Company by 1.9% in the fourth quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider's stock worth $493,000 after purchasing an additional 134 shares during the period. Crown Wealth Group LLC boosted its stake in Wells Fargo & Company by 2.2% during the fourth quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider's stock worth $467,000 after buying an additional 140 shares in the last quarter. Jacobsen Capital Management increased its holdings in Wells Fargo & Company by 2.8% in the 4th quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider's stock valued at $381,000 after buying an additional 148 shares during the period. Finally, New Republic Capital LLC raised its stake in shares of Wells Fargo & Company by 2.9% in the 4th quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider's stock valued at $369,000 after buying an additional 149 shares in the last quarter. Institutional investors own 75.90% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts recently weighed in on WFC shares. Truist Financial upped their target price 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. Piper Sandler upped their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. UBS Group raised their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Morgan Stanley boosted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Finally, Royal Bank of Canada raised shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target for the company in a report on Thursday, March 13th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $74.18.

Wells Fargo & Company Trading Up 2.4 %

WFC traded up $1.76 during midday trading on Monday, reaching $74.28. 10,685,753 shares of the company were exchanged, compared to its average volume of 16,418,545. The stock has a market capitalization of $244.25 billion, a P/E ratio of 13.81, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The stock's 50-day simple moving average is $75.95 and its 200 day simple moving average is $69.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

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 firm had revenue of $20.38 billion during the quarter, compared to analysts' expectations of $20.58 billion. During the same quarter in the previous year, the company earned $0.86 earnings per share. The business's revenue for the quarter was down .5% on a year-over-year basis. As a group, analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.15%. Wells Fargo & Company's payout ratio is 29.74%.

Wells Fargo & 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.