TIAA Trust National Association Increases Stake in Wells Fargo & Company (NYSE:WFC)

TIAA Trust National Association increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.1% in the first quarter, Holdings Channel.com reports. The firm owned 90,515 shares of the financial services provider’s stock after purchasing an additional 1,846 shares during the quarter. TIAA Trust National Association’s holdings in Wells Fargo & Company were worth $5,246,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in WFC. Arlington Trust Co LLC bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth $25,000. Core Wealth Advisors Inc. purchased a new position in Wells Fargo & Company in the 4th quarter worth about $25,000. Tennessee Valley Asset Management Partners bought a new stake in Wells Fargo & Company during the 4th quarter valued at about $29,000. Wetzel Investment Advisors Inc. purchased a new stake in Wells Fargo & Company in the 4th quarter valued at about $32,000. Finally, Transcendent Capital Group LLC bought a new position in Wells Fargo & Company in the 4th quarter worth about $32,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Down 0.4 %

NYSE:WFC traded down $0.24 during mid-day trading on Monday, hitting $58.99. 5,675,806 shares of the company’s stock traded hands, compared to its average volume of 18,397,533. The company has a fifty day moving average of $59.33 and a 200 day moving average of $56.23. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.86 and a current ratio of 0.86. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The company has a market capitalization of $205.66 billion, a P/E ratio of 12.08, a P/E/G ratio of 1.46 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 earnings per share. On average, analysts forecast that Wells Fargo & Company will post 5.12 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.37%. Wells Fargo & Company’s payout ratio is 28.75%.

Wall Street Analyst Weigh In

WFC has been the subject of a number of research reports. The Goldman Sachs Group boosted their price target on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. BMO Capital Markets upped their target price on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Evercore ISI restated an “outperform” rating and issued a $67.00 price objective (down from $70.00) on shares of Wells Fargo & Company in a report on Monday, July 15th. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. raised their target price on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Thirteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $59.31.

Wells Fargo & Company Company Profile

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.