B. Metzler seel. Sohn & Co. AG Acquires Shares of 159,950 Wells Fargo & Company $WFC

B. Metzler seel. Sohn & Co. AG bought a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 159,950 shares of the financial services provider's stock, valued at approximately $13,218,000.

Other large investors have also modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of Wells Fargo & Company by 62.3% in the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider's stock worth $4,652,000 after buying an additional 25,436 shares in the last quarter. Jump Financial LLC raised its holdings in Wells Fargo & Company by 12.9% in the 2nd quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider's stock valued at $1,835,000 after acquiring an additional 2,615 shares during the last quarter. Main Street Financial Solutions LLC lifted its stake in Wells Fargo & Company by 111.0% in the 2nd quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider's stock worth $1,122,000 after purchasing an additional 7,368 shares in the last quarter. Vivaldi Capital Management LP lifted its stake in Wells Fargo & Company by 5.4% in the 2nd quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider's stock worth $259,000 after purchasing an additional 165 shares in the last quarter. Finally, Diversify Advisory Services LLC boosted its holdings in shares of Wells Fargo & Company by 51.2% during the 2nd quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider's stock worth $2,044,000 after purchasing an additional 8,714 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WFC shares. JPMorgan Chase & Co. upped their price target on Wells Fargo & Company from $93.50 to $95.50 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. Robert W. Baird lifted their price objective on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Bank of America boosted their price objective on Wells Fargo & Company from $95.00 to $102.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. UBS Group dropped their target price on Wells Fargo & Company from $105.00 to $104.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Wells Fargo & Company in a research note on Friday, July 17th. Two equities 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. According to data from MarketBeat, Wells Fargo & Company presently has an average rating of "Moderate Buy" and an average price target of $98.61.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $84.70 on Tuesday. The firm has a 50 day simple moving average of $86.11 and a 200-day simple moving average of $82.85. Wells Fargo & Company has a 1-year low of $72.78 and a 1-year high of $97.76. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $256.13 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 0.91 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.73 by $0.23. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The firm had revenue of $22.62 billion for the quarter, compared to analyst estimates of $21.86 billion. During the same quarter in the previous year, the company earned $1.60 EPS. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. On average, analysts expect that Wells Fargo & Company will post 7.26 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.4%. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 7th. Wells Fargo & Company's payout ratio is 29.07%.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

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