Teachers Retirement System of The State of Kentucky Lowers Stake in Wells Fargo & Company $WFC

Teachers Retirement System of The State of Kentucky lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 658,730 shares of the financial services provider’s stock after selling 33,900 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Wells Fargo & Company were worth $52,442,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Private Wealth Group LLC lifted its holdings in shares of Wells Fargo & Company by 2.5% during the fourth quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 108 shares during the last quarter. Nixon Peabody Trust Co. boosted its position in shares of Wells Fargo & Company by 3.6% in the 4th quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock worth $312,000 after purchasing an additional 115 shares in the last quarter. Simmons Bank grew its stake in shares of Wells Fargo & Company by 1.9% in the 4th quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock worth $593,000 after buying an additional 116 shares during the last quarter. Moss Adams Wealth Advisors LLC grew its stake in shares of Wells Fargo & Company by 1.0% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider’s stock worth $1,123,000 after buying an additional 117 shares during the last quarter. Finally, Wood Tarver Financial Group LLC increased its position in Wells Fargo & Company by 1.6% during the 4th quarter. Wood Tarver Financial Group LLC now owns 7,754 shares of the financial services provider’s stock valued at $722,000 after buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $87.07 on Monday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.90 and a quick ratio of 0.90. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76. The firm has a market capitalization of $266.46 billion, a P/E ratio of 13.44, a PEG ratio of 1.00 and a beta of 0.92. The business has a fifty day moving average of $80.67 and a 200 day moving average of $83.96.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.02. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The company had revenue of $11.62 billion during the quarter, compared to analysts’ expectations of $21.85 billion. During the same quarter in the prior year, the business earned $1.39 earnings per share. Wells Fargo & Company’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 6.98 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is presently 27.78%.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of recent research reports. Piper Sandler reiterated an “overweight” rating and set a $94.00 price objective (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. Morgan Stanley raised their price target on Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. UBS Group lowered their price target on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. JPMorgan Chase & Co. upped their price target on shares of Wells Fargo & Company from $86.50 to $93.50 and gave the stock a “neutral” rating in a research note on Monday, July 6th. Finally, KGI Securities downgraded shares of Wells Fargo & Company to a “hold” rating in a research report on Thursday, April 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.34.

Key Headlines Impacting Wells Fargo & Company

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Analysts and market commentary remain upbeat on Wells Fargo’s upcoming results, with expectations for higher net interest income and fee income to support earnings. The stock is also benefiting from a “moderate buy” consensus and renewed interest in bank earnings ahead of the reporting season.
• Positive Sentiment: Wells Fargo was cited as a bullish name in sector research, and the broader banking group is seen as positioned for solid Q2 results, which could lift financial stocks if the trend holds.
• Neutral Sentiment: Recent articles focused on Wells Fargo mostly previewed the earnings release rather than delivering new company-specific news, so investors are still waiting for a catalyst from the actual report.
• Neutral Sentiment: Broader market news was mixed but relatively calm, with futures drifting and investors waiting for inflation data and earnings season, which suggests WFC’s move is more tied to positioning than to any fresh negative headline.

Wells Fargo & 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.