B. Metzler seel. Sohn & Co. AG Sells 47,504 Shares of Wells Fargo & Company $WFC

B. Metzler seel. Sohn & Co. AG lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 22.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 159,950 shares of the financial services provider's stock after selling 47,504 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in Wells Fargo & Company were worth $13,218,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Bryn Mawr Trust Advisors LLC purchased a new position in Wells Fargo & Company during the 2nd quarter worth approximately $658,000. Swiss Life Asset Management Ltd boosted its holdings in shares of Wells Fargo & Company by 4.2% in the 4th quarter. Swiss Life Asset Management Ltd now owns 350,567 shares of the financial services provider's stock valued at $32,673,000 after acquiring an additional 14,168 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of Wells Fargo & Company by 4.4% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 412,511 shares of the financial services provider's stock worth $38,446,000 after acquiring an additional 17,302 shares during the period. Norges Bank acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $4,512,563,000. Finally, Winning Points Advisors LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth $3,384,000. Institutional investors own 75.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. UBS Group decreased their target price on shares of Wells Fargo & Company from $105.00 to $104.00 and set a "buy" rating for the company in a research report on Tuesday, July 7th. Truist Financial increased their price target on Wells Fargo & Company from $90.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, June 26th. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Wall Street Zen raised Wells Fargo & Company from a "sell" rating to a "hold" rating in a report on Sunday, June 14th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Wells Fargo & Company in a research note on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $98.61.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $89.28 on Thursday. The company has a market capitalization of $269.98 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 0.95 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. The company's fifty day moving average price is $86.48 and its 200 day moving average price is $82.59. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year high of $97.76.

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

Wells Fargo & Company Increases Dividend

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

Wells Fargo & Company 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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