B. Metzler seel. Sohn & Co. AG Trims Stock Position in Wells Fargo & Company $WFC

Key Points

• B. Metzler seel. Sohn & Co. AG reduced its stake in Wells Fargo by 4.7%, ending the quarter with 119,849 shares valued at approximately $8.6 million.
• Wells Fargo recently announced a quarterly dividend increase to $0.45 per share, up from the previous $0.40, with a yield of 2.2%.
• Analysts have varied ratings on Wells Fargo, with an average target price of $81.58, indicating a general outlook of "Moderate Buy".

B. Metzler seel. Sohn & Co. AG cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 4.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 119,849 shares of the financial services provider's stock after selling 5,869 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Wells Fargo & Company were worth $8,604,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Silvant Capital Management LLC increased its position in shares of Wells Fargo & Company by 1.8% during the first quarter. Silvant Capital Management LLC now owns 32,416 shares of the financial services provider's stock worth $2,327,000 after acquiring an additional 572 shares during the period. Guggenheim Capital LLC boosted its stake in shares of Wells Fargo & Company by 24.7% during the first quarter. Guggenheim Capital LLC now owns 359,046 shares of the financial services provider's stock valued at $25,776,000 after purchasing an additional 71,038 shares in the last quarter. CreativeOne Wealth LLC boosted its stake in shares of Wells Fargo & Company by 7.6% during the first quarter. CreativeOne Wealth LLC now owns 14,951 shares of the financial services provider's stock valued at $1,073,000 after purchasing an additional 1,059 shares in the last quarter. Warwick Investment Management Inc. boosted its stake in shares of Wells Fargo & Company by 5.2% during the first quarter. Warwick Investment Management Inc. now owns 5,368 shares of the financial services provider's stock valued at $385,000 after purchasing an additional 263 shares in the last quarter. Finally, Quadcap Wealth Management LLC boosted its stake in shares of Wells Fargo & Company by 3.2% during the first quarter. Quadcap Wealth Management LLC now owns 9,810 shares of the financial services provider's stock valued at $704,000 after purchasing an additional 306 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

Shares of WFC opened at $82.58 on Thursday. The company has a market cap of $264.54 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 1.27 and a beta of 1.20. Wells Fargo & Company has a twelve month low of $50.22 and a twelve month high of $84.83. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The company has a 50 day moving average of $80.03 and a two-hundred day moving average of $74.98.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The business had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. During the same period in the previous year, the firm posted $1.33 earnings per share. The business's revenue for the quarter was up .6% compared to the same quarter last year. As a group, analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 8th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, August 8th. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. Wells Fargo & Company's payout ratio is presently 30.82%.

Wall Street Analyst Weigh In

WFC has been the topic of a number of recent research reports. Truist Financial increased their price objective on shares of Wells Fargo & Company from $83.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Phillip Securities downgraded shares of Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Piper Sandler reiterated an "overweight" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Citigroup reiterated a "neutral" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Finally, Raymond James Financial downgraded shares of Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research note on Monday, July 7th. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, Wells Fargo & Company has an average rating of "Moderate Buy" and an average target price of $81.58.

Wells Fargo & 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.

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