Teacher Retirement System of Texas Has $62.64 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Teacher Retirement System of Texas decreased its stake in shares of Wells Fargo & Company (NYSE:WFC – Get Rating) by 20.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,292,512 shares of the financial services provider’s stock after selling 333,246 shares during the quarter. Teacher Retirement System of Texas’ holdings in Wells Fargo & Company were worth $62,635,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $1,566,470,000. Capital World Investors increased its holdings in shares of Wells Fargo & Company by 37.4% during the 4th quarter. Capital World Investors now owns 30,966,799 shares of the financial services provider’s stock worth $1,485,787,000 after acquiring an additional 8,421,820 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Wells Fargo & Company by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 17,758,512 shares of the financial services provider’s stock worth $852,047,000 after acquiring an additional 321,934 shares during the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of Wells Fargo & Company by 8.6% during the 4th quarter. Parametric Portfolio Associates LLC now owns 9,845,418 shares of the financial services provider’s stock worth $472,383,000 after acquiring an additional 780,425 shares during the last quarter. Finally, Toronto Dominion Bank increased its holdings in shares of Wells Fargo & Company by 8.5% during the 4th quarter. Toronto Dominion Bank now owns 5,331,925 shares of the financial services provider’s stock worth $131,344,000 after acquiring an additional 418,123 shares during the last quarter. Institutional investors and hedge funds own 74.01% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $43.76 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $165.98 billion, a price-to-earnings ratio of 10.49, a P/E/G ratio of 1.05 and a beta of 1.18. The firm’s 50 day simple moving average is $41.50 and its 200 day simple moving average is $46.94. Wells Fargo & Company has a 1 year low of $36.54 and a 1 year high of $60.30.

Wells Fargo & Company (NYSE:WFC – Get Rating) last posted its quarterly earnings results on Friday, July 15th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.14). The firm had revenue of $17.03 billion for the quarter, compared to analyst estimates of $17.54 billion. Wells Fargo & Company had a return on equity of 10.67% and a net margin of 22.52%. The business’s revenue was down 16.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.38 EPS. As a group, research analysts expect that Wells Fargo & Company will post 4 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 5th will be given a dividend of $0.30 per share. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.25. The ex-dividend date is Thursday, August 4th. This represents a $1.20 annualized dividend and a dividend yield of 2.74%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 28.78%.

Analyst Ratings Changes

A number of research firms recently weighed in on WFC. Piper Sandler set a $48.00 target price on Wells Fargo & Company in a report on Monday, June 20th. Raymond James decreased their target price on Wells Fargo & Company from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, June 24th. Barclays decreased their target price on Wells Fargo & Company from $64.00 to $58.00 and set an “overweight” rating on the stock in a report on Monday, July 18th. The Goldman Sachs Group upped their price objective on Wells Fargo & Company from $54.00 to $56.00 in a report on Thursday, April 14th. Finally, Citigroup decreased their price objective on Wells Fargo & Company from $56.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, July 12th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.31.

About Wells Fargo & Company

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Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.