Deutsche Bank AG Has $723.88 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Deutsche Bank AG decreased its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 23.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,305,754 shares of the financial services provider's stock after selling 3,081,342 shares during the period. Deutsche Bank AG owned about 0.31% of Wells Fargo & Company worth $723,876,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Rialto Wealth Management LLC bought a new stake in Wells Fargo & Company in the fourth quarter worth $26,000. Investment Counsel Co. of Nevada bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $28,000. BNP Paribas acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. raised its position in shares of Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 237 shares during the period. Finally, McClarren Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $30,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Trading Down 1.2 %

Wells Fargo & Company stock traded down $0.87 during mid-day trading on Friday, hitting $72.44. The stock had a trading volume of 11,136,882 shares, compared to its average volume of 17,544,748. The stock has a 50-day simple moving average of $69.06 and a two-hundred day simple moving average of $72.12. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $235.73 billion, a PE ratio of 13.46, a P/E/G ratio of 1.18 and a beta of 1.13. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50.

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

Wells Fargo & Company declared that its board has authorized a stock repurchase plan on Tuesday, April 29th that authorizes the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 17.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 9th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Friday, May 9th. Wells Fargo & Company's dividend payout ratio (DPR) is currently 28.73%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WFC shares. Morgan Stanley boosted their target price 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. Piper Sandler lowered their price objective on shares of Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Bank of America lowered their price target on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Barclays reduced their target price on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $75.34.

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.