Tiaa Fsb Sells 83,459 Shares of Wells Fargo & Co (WFC)

Tiaa Fsb cut its holdings in Wells Fargo & Co (NYSE:WFC) by 16.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 439,423 shares of the financial services provider’s stock after selling 83,459 shares during the period. Tiaa Fsb’s holdings in Wells Fargo & Co were worth $24,234,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC lifted its holdings in Wells Fargo & Co by 0.3% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 6 shares in the last quarter. Winch Advisory Services LLC lifted its holdings in Wells Fargo & Co by 0.7% in the 2nd quarter. Winch Advisory Services LLC now owns 2,776 shares of the financial services provider’s stock valued at $154,000 after purchasing an additional 20 shares in the last quarter. Jackson Grant Investment Advisers Inc. lifted its holdings in Wells Fargo & Co by 0.5% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 4,954 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 26 shares in the last quarter. Financial Advisory Group lifted its holdings in Wells Fargo & Co by 0.7% in the 2nd quarter. Financial Advisory Group now owns 5,029 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 35 shares in the last quarter. Finally, Keystone Financial Planning Inc. lifted its holdings in Wells Fargo & Co by 0.6% in the 1st quarter. Keystone Financial Planning Inc. now owns 6,755 shares of the financial services provider’s stock valued at $376,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 75.69% of the company’s stock.

In other news, VP Richard Levy sold 97,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.47, for a total transaction of $5,477,590.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John R. Shrewsberry sold 70,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.90, for a total transaction of $3,983,000.00. The disclosure for this sale can be found here. Insiders have sold 184,482 shares of company stock valued at $10,471,050 in the last three months. Corporate insiders own 0.22% of the company’s stock.

Several research analysts have recently weighed in on WFC shares. UBS Group set a $57.00 price objective on shares of Wells Fargo & Co and gave the stock a “neutral” rating in a report on Friday, October 6th. Vetr upgraded shares of Wells Fargo & Co from a “sell” rating to a “strong-buy” rating in a report on Monday, November 6th. BMO Capital Markets increased their price objective on shares of Wells Fargo & Co from $49.00 to $50.00 and gave the stock a “market perform” rating in a report on Monday, October 16th. Goldman Sachs Group reiterated a “buy” rating on shares of Wells Fargo & Co in a report on Wednesday, October 11th. Finally, Nomura increased their price objective on shares of Wells Fargo & Co from $64.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, September 28th. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. Wells Fargo & Co currently has an average rating of “Hold” and a consensus price target of $57.75.

Shares of Wells Fargo & Co (WFC) opened at $61.55 on Monday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89. Wells Fargo & Co has a 1 year low of $49.27 and a 1 year high of $62.24. The stock has a market cap of $303,383.72, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 1.91 and a beta of 0.96.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). Wells Fargo & Co had a net margin of 21.23% and a return on equity of 9.33%. The firm had revenue of $21.93 billion during the quarter, compared to analyst estimates of $22.30 billion. During the same period last year, the business earned $1.03 EPS. The firm’s revenue was down 1.8% compared to the same quarter last year. equities research analysts forecast that Wells Fargo & Co will post 3.99 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 3rd were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date was Thursday, November 2nd. Wells Fargo & Co’s payout ratio is currently 40.31%.

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About Wells Fargo & Co

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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

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