TIAA Trust National Association Buys 224,554 Shares of Wells Fargo & Company (NYSE:WFC)

TIAA Trust National Association grew its position in Wells Fargo & Company (NYSE:WFC) by 254.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 312,750 shares of the financial services provider’s stock after purchasing an additional 224,554 shares during the period. TIAA Trust National Association’s holdings in Wells Fargo & Company were worth $21,968,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Houlihan Financial Resource Group Ltd. purchased a new stake in Wells Fargo & Company in the 4th quarter valued at about $211,000. Ashton Thomas Securities LLC increased its position in shares of Wells Fargo & Company by 18.0% during the fourth quarter. Ashton Thomas Securities LLC now owns 3,678 shares of the financial services provider’s stock valued at $258,000 after acquiring an additional 562 shares during the last quarter. TD Asset Management Inc. lifted its holdings in Wells Fargo & Company by 16.6% during the fourth quarter. TD Asset Management Inc. now owns 1,630,649 shares of the financial services provider’s stock worth $114,537,000 after acquiring an additional 232,203 shares during the period. Modern Wealth Management LLC boosted its position in Wells Fargo & Company by 87.4% in the fourth quarter. Modern Wealth Management LLC now owns 13,028 shares of the financial services provider’s stock worth $915,000 after purchasing an additional 6,077 shares during the last quarter. Finally, CoreFirst Bank & Trust bought a new position in Wells Fargo & Company in the 4th quarter valued at $346,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $74.27 on Wednesday. The stock’s 50-day simple moving average is $76.09 and its two-hundred day simple moving average is $69.76. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The firm has a market capitalization of $244.21 billion, a P/E ratio of 13.80, a P/E/G ratio of 1.18 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same period last year, the firm posted $0.86 earnings per share. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.15%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Analyst Ratings Changes

Several equities analysts recently weighed in on WFC shares. The Goldman Sachs Group increased their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Compass Point raised their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Piper Sandler upped their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Truist Financial raised their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Morgan Stanley upped their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $74.18.

Wells Fargo & Company Company Profile

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.