California State Teachers Retirement System Has $384.48 Million Stake in Wells Fargo & Company $WFC

California State Teachers Retirement System trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 2.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,652,505 shares of the financial services provider's stock after selling 121,082 shares during the quarter. California State Teachers Retirement System owned about 0.15% of Wells Fargo & Company worth $384,483,013 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in WFC. Norges Bank purchased a new position in Wells Fargo & Company during the 4th quarter valued at about $4,512,563,000. Legal & General Group Plc purchased a new position in shares of Wells Fargo & Company during the second quarter valued at approximately $1,635,881,000. Bank of New York Mellon Corp purchased a new position in Wells Fargo & Company in the second quarter valued at about $1,364,923,000. Deutsche Bank AG purchased a new position in Wells Fargo & Company during the second quarter valued at approximately $859,431,000. Finally, Pzena Investment Management LLC acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter worth approximately $729,502,000. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WFC. Wall Street Zen raised shares of Wells Fargo & Company from a "sell" rating to a "hold" rating in a research note on Sunday, June 14th. JPMorgan Chase & Co. increased their target price on shares of Wells Fargo & Company from $93.50 to $95.50 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. Robert W. Baird increased their price target on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Morgan Stanley boosted their price target on Wells Fargo & Company from $97.00 to $102.00 and gave the company an "equal weight" rating in a research note on Monday, June 29th. Finally, Raymond James Financial reaffirmed a "market perform" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of "Moderate Buy" and a consensus price target of $98.61.

Wells Fargo & Company News Summary

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Wells Fargo expanded international money transfers through ExpressSend Mobile, allowing customers to send funds abroad directly from the Wells Fargo Mobile app. The initiative could support digital engagement, customer retention and fee-generating payments activity. Wells Fargo Brings International Money Transfers to Mobile Banking
• Neutral Sentiment: Wells Fargo presented at the Barclays Global Financial Services Conference. The transcript provides investors with updated management commentary, but the supplied report does not identify a major new earnings outlook, capital action or strategic announcement likely to materially change the stock’s valuation. Wells Fargo Presents at Barclays Global Financial Services Conference
• Neutral Sentiment: Commercial banking executive John Manning will retire at year-end after more than 30 years with the bank, with Biodrowski named as his successor. The planned transition may create some execution uncertainty, although the prompt succession plan limits the immediate impact. Wells Fargo Commercial Banking Head Manning to Retire
• Negative Sentiment: Wells Fargo lowered its year-end S&P 500 target to 7,700 from 7,950, downgraded technology and cited political risks, late-cycle conditions and elevated valuations. Although this is a market forecast rather than a direct WFC earnings revision, it signals a more cautious risk outlook and can weigh on financial-sector sentiment. Wells Fargo Lowers S&P 500 Forecast
• Negative Sentiment: WFC underperformed the broader market in the latest session, reflecting continued pressure on bank shares as investors weigh macroeconomic uncertainty and the more defensive market outlook. Wells Fargo Dips More Than Broader Market

Wells Fargo & Company Stock Up 0.6%

Shares of NYSE:WFC traded up $0.52 during trading on Tuesday, hitting $89.23. The company's stock had a trading volume of 8,572,005 shares, compared to its average volume of 16,106,956. The business has a 50 day moving average price of $87.20 and a two-hundred day moving average price of $82.73. The company has a market capitalization of $269.83 billion, a PE ratio of 12.97, a P/E/G ratio of 0.98 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. Wells Fargo & Company has a fifty-two week low of $72.78 and a fifty-two week high of $97.76.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.73 by $0.23. The business had revenue of $22.62 billion during the quarter, compared to the consensus estimate of $21.86 billion. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The business's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.60 earnings per share. As a group, research analysts expect that Wells Fargo & Company will post 7.25 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th were given a dividend of $0.50 per share. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, August 7th. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. Wells Fargo & Company's payout ratio is presently 29.07%.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified financial services company that provides banking, lending, investment, and wealth management services to consumers, businesses, and institutions. Its offerings include checking and savings accounts, credit cards, mortgages, auto loans, personal lending, commercial financing, and treasury management services.

The company operates through businesses that include consumer and small-business banking, commercial banking, corporate and investment banking, and wealth and investment management.

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