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

TIAA Trust National Association trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 13.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 444,801 shares of the financial services provider’s stock after selling 70,552 shares during the quarter. TIAA Trust National Association’s holdings in Wells Fargo & Company were worth $37,283,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Access Investment Management LLC acquired a new stake in shares of Wells Fargo & Company during the second quarter worth approximately $25,000. Redmont Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company during the third quarter worth about $27,000. Marquette Asset Management LLC grew its stake in Wells Fargo & Company by 472.4% in the third quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 274 shares in the last quarter. Grey Fox Wealth Advisors LLC acquired a new position in Wells Fargo & Company in the third quarter worth about $30,000. Finally, Kilter Group LLC bought a new position in Wells Fargo & Company during the 2nd quarter worth approximately $31,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Wells Fargo & Company

In other news, EVP Kleber Santos sold 25,000 shares of Wells Fargo & Company stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $87.72, for a total transaction of $2,193,000.00. Following the sale, the executive vice president owned 79,876 shares of the company’s stock, valued at approximately $7,006,722.72. This trade represents a 23.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on WFC shares. CICC Research started coverage on shares of Wells Fargo & Company in a research note on Wednesday, January 14th. They set a “market perform” rating and a $96.00 price objective on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a report on Wednesday, January 21st. Robert W. Baird upgraded shares of Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 price objective on the stock in a research note on Friday, February 13th. TD Cowen cut their price objective on Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, January 15th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $109.00 target price on shares of Wells Fargo & Company in a research note on Wednesday, January 7th. Thirteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

Wells Fargo & Company Trading Down 0.5%

NYSE WFC opened at $86.29 on Friday. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $97.76. The firm’s fifty day simple moving average is $90.96 and its 200-day simple moving average is $86.37. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $266.26 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 0.95 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, topping the consensus estimate of $1.66 by $0.10. The firm had revenue of $21.29 billion for the quarter, compared to the consensus estimate of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.43 earnings per share. As a group, sell-side analysts anticipate 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 will be paid on Sunday, March 1st. Shareholders of record on Friday, February 6th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.71%.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.