Teachers Retirement System of The State of Kentucky Purchases 38,047 Shares of Wells Fargo & Company (NYSE:WFC)

Teachers Retirement System of The State of Kentucky grew its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 3.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,048,148 shares of the financial services provider's stock after purchasing an additional 38,047 shares during the quarter. Wells Fargo & Company comprises about 0.6% of Teachers Retirement System of The State of Kentucky's holdings, making the stock its 18th biggest holding. Teachers Retirement System of The State of Kentucky's holdings in Wells Fargo & Company were worth $73,623,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Rialto Wealth Management LLC purchased a new position in Wells Fargo & Company during the 4th quarter valued at about $26,000. Investment Counsel Co. of Nevada purchased a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $28,000. Modus Advisors LLC bought a new position in Wells Fargo & Company during the 4th quarter valued at approximately $30,000. McClarren Financial Advisors Inc. purchased a new position in Wells Fargo & Company during the fourth quarter valued at $30,000. Finally, Rakuten Securities Inc. boosted its holdings in Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock worth $30,000 after acquiring an additional 237 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock traded up $1.57 during trading on Thursday, reaching $69.51. 9,113,595 shares of the stock traded hands, compared to its average volume of 17,465,878. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The business has a fifty day simple moving average of $70.44 and a two-hundred day simple moving average of $71.26. The company has a market capitalization of $226.95 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 1.18 and a beta of 1.02.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.16. The firm had revenue of $20.15 billion for the quarter, compared to the consensus estimate of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business's quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 EPS. Sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's dividend payout ratio is currently 28.73%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on WFC shares. Morgan Stanley lifted their price target on Wells Fargo & Company from $79.00 to $80.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Bank of America decreased their target price on shares of Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, April 14th. Barclays lowered their price target on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a research note on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Wells Fargo & Company has an average rating of "Moderate Buy" and an average price target of $75.34.

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.