TIAA Trust National Association Sells 16,131 Shares of Wells Fargo & Company (NYSE:WFC)

TIAA Trust National Association cut its position in shares of Wells Fargo & Company (NYSE:WFC) by 15.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,669 shares of the financial services provider’s stock after selling 16,131 shares during the quarter. TIAA Trust National Association’s holdings in Wells Fargo & Company were worth $4,364,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Fortis Group Advisors LLC bought a new stake in shares of Wells Fargo & Company during the third quarter valued at approximately $25,000. Studio Investment Management LLC bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Wells Fargo & Company during the first quarter valued at approximately $28,000. Baystate Wealth Management LLC boosted its position in shares of Wells Fargo & Company by 53.0% during the third quarter. Baystate Wealth Management LLC now owns 803 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 278 shares in the last quarter. Finally, Impact Partnership Wealth LLC purchased a new position in Wells Fargo & Company during the third quarter valued at $34,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $57.36 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.88. Wells Fargo & Company has a one year low of $36.27 and a one year high of $58.44. The firm has a market capitalization of $203.08 billion, a P/E ratio of 11.90, a PEG ratio of 1.20 and a beta of 1.19. The business has a fifty day moving average of $53.61 and a 200 day moving average of $47.37.

Wells Fargo & Company (NYSE:WFCGet Free Report) last issued its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.86 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.30). Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The firm had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.30 billion. During the same period in the previous year, the firm earned $0.67 EPS. The business’s revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 4.72 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s payout ratio is currently 29.05%.

Analyst Ratings Changes

A number of research analysts have issued reports on WFC shares. Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, March 19th. Citigroup reiterated a “neutral” rating and set a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Morgan Stanley lifted their price objective on Wells Fargo & Company from $54.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. Evercore ISI lifted their price objective on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $55.00 price objective on shares of Wells Fargo & Company in a research note on Monday, January 8th. Twelve research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and an average target price of $56.68.

Read Our Latest Analysis on WFC

Wells Fargo & Company Profile

(Free Report)

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

Featured Articles

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFCFree Report).

Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.