Wells Fargo & Company $WFC Shares Bought by TIAA Trust National Association

TIAA Trust National Association raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 24.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 515,353 shares of the financial services provider’s stock after buying an additional 101,877 shares during the period. TIAA Trust National Association’s holdings in Wells Fargo & Company were worth $41,290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Management Partners LLC grew its position in Wells Fargo & Company by 3.5% in the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock valued at $313,000 after acquiring an additional 128 shares in the last quarter. Verum Partners LLC boosted its stake in shares of Wells Fargo & Company by 1.8% in the second quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock valued at $582,000 after purchasing an additional 128 shares during the period. Motive Wealth Advisors grew its holdings in shares of Wells Fargo & Company by 3.7% in the second quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 129 shares in the last quarter. Exencial Wealth Advisors LLC increased its stake in Wells Fargo & Company by 0.7% during the 2nd quarter. Exencial Wealth Advisors LLC now owns 18,009 shares of the financial services provider’s stock worth $1,443,000 after buying an additional 131 shares during the period. Finally, Yukon Wealth Management Inc. increased its stake in Wells Fargo & Company by 4.3% during the 2nd quarter. Yukon Wealth Management Inc. now owns 3,179 shares of the financial services provider’s stock worth $255,000 after buying an additional 132 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays boosted their price target on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Phillip Securities cut Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Weiss Ratings upgraded Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, October 8th. Piper Sandler reiterated an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Finally, UBS Group lowered their price objective on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company Stock Up 1.4%

Shares of NYSE WFC opened at $87.19 on Friday. The business has a 50-day moving average of $82.75 and a two-hundred day moving average of $78.59. The company has a market capitalization of $279.30 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 1.18 and a beta of 1.25. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $87.47. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. During the same quarter in the prior year, the business posted $1.42 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.61%.

About Wells Fargo & Company

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.