TIAA Trust National Association Boosts Stake in Wells Fargo & Company (NYSE:WFC)

TIAA Trust National Association increased its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 254.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 312,750 shares of the financial services provider's stock after buying an additional 224,554 shares during the period. TIAA Trust National Association's holdings in Wells Fargo & Company were worth $21,968,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Nordea Investment Management AB lifted its holdings in shares of Wells Fargo & Company by 10.1% in the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider's stock valued at $441,983,000 after purchasing an additional 575,892 shares in the last quarter. Two Sigma Advisers LP lifted its stake 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 buying an additional 5,237,500 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in Wells Fargo & Company by 158.1% during the 3rd 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 last quarter. Teacher Retirement System of Texas increased its position in Wells Fargo & Company by 14.1% during the fourth quarter. Teacher Retirement System of Texas now owns 2,229,521 shares of the financial services provider's stock worth $156,602,000 after buying an additional 274,886 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in shares of Wells Fargo & Company by 81.6% in the third quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider's stock valued at $111,914,000 after acquiring an additional 889,953 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WFC. Compass Point boosted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Truist Financial lifted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. The Goldman Sachs Group upped their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Piper Sandler lifted their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. Finally, Citigroup cut their price target on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.97.

Wells Fargo & Company Trading Down 2.2 %

WFC traded down $1.57 during trading on Friday, hitting $70.71. 13,550,316 shares of the company's stock were exchanged, compared to its average volume of 17,140,434. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The stock has a 50 day moving average price of $75.84 and a 200 day moving average price of $70.03. The firm has a market cap of $230.87 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping 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 period in the prior year, the company earned $0.86 EPS. The firm's revenue was down .5% on a year-over-year basis. As a group, analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders 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 dividend yield of 2.26%. Wells Fargo & Company's dividend payout ratio (DPR) is currently 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.