Raiffeisen Bank International AG Takes Position in Wells Fargo & Company (NYSE:WFC)

Raiffeisen Bank International AG purchased a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 28,297 shares of the financial services provider's stock, valued at approximately $1,992,000.

Other hedge funds have also recently bought and sold shares of the company. Brookstone Capital Management increased its holdings in shares of Wells Fargo & Company by 10.8% during the fourth quarter. Brookstone Capital Management now owns 17,676 shares of the financial services provider's stock worth $1,242,000 after buying an additional 1,726 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Wells Fargo & Company by 5.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,670 shares of the financial services provider's stock valued at $258,000 after purchasing an additional 175 shares in the last quarter. Armstrong Advisory Group Inc. boosted its stake in Wells Fargo & Company by 12.7% in the fourth quarter. Armstrong Advisory Group Inc. now owns 2,235 shares of the financial services provider's stock worth $157,000 after purchasing an additional 252 shares in the last quarter. Rovin Capital UT ADV bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth $228,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of Wells Fargo & Company by 34.6% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 15,183 shares of the financial services provider's stock valued at $1,066,000 after buying an additional 3,905 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Down 0.8%

Shares of Wells Fargo & Company stock traded down $0.64 on Tuesday, hitting $75.42. The company had a trading volume of 10,653,194 shares, compared to its average volume of 17,481,256. The firm has a market capitalization of $245.43 billion, a P/E ratio of 14.02, a P/E/G ratio of 1.18 and a beta of 1.13. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a 50-day moving average of $69.74 and a 200-day moving average of $72.67.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. During the same period last year, the company earned $1.20 earnings per share. Wells Fargo & Company's quarterly revenue was down 3.4% on a year-over-year basis. Research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company announced that its board has initiated a stock repurchase program on Tuesday, April 29th that authorizes the company to buyback $40.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 17.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 9th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Friday, May 9th. Wells Fargo & Company's dividend payout ratio (DPR) is currently 28.73%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Raymond James cut their price target on Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating on the stock in a research note on Monday, April 14th. Barclays decreased their price target on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Phillip Securities upgraded shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, April 14th. Finally, Citigroup dropped their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $75.73.

About Wells Fargo & Company

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.