Wells Fargo & Company (NYSE:WFC) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale decreased its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 0.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,544,598 shares of the financial services provider's stock after selling 6,920 shares during the period. DekaBank Deutsche Girozentrale's holdings in Wells Fargo & Company were worth $108,038,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Personal CFO Solutions LLC increased its position in shares of Wells Fargo & Company by 2.4% during the first quarter. Personal CFO Solutions LLC now owns 11,951 shares of the financial services provider's stock worth $858,000 after purchasing an additional 277 shares in the last quarter. 49 Wealth Management LLC increased its position in Wells Fargo & Company by 28.5% during the 1st quarter. 49 Wealth Management LLC now owns 4,869 shares of the financial services provider's stock valued at $350,000 after buying an additional 1,079 shares in the last quarter. Stratos Investment Management LLC increased its position in Wells Fargo & Company by 10.0% during the 1st quarter. Stratos Investment Management LLC now owns 10,628 shares of the financial services provider's stock valued at $763,000 after buying an additional 962 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in Wells Fargo & Company by 8.5% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 18,280 shares of the financial services provider's stock valued at $1,312,000 after buying an additional 1,428 shares in the last quarter. Finally, Alpha Cubed Investments LLC increased its holdings in shares of Wells Fargo & Company by 17.9% during the first quarter. Alpha Cubed Investments LLC now owns 42,647 shares of the financial services provider's stock valued at $3,062,000 after acquiring an additional 6,467 shares in the last quarter. Institutional investors own 75.90% of the company's stock.

Analysts Set New Price Targets

WFC has been the topic of several recent analyst reports. Phillip Securities upgraded shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, April 14th. Truist Financial upped their target price on Wells Fargo & Company from $83.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday. The Goldman Sachs Group reissued a "buy" rating and issued a $86.00 target price on shares of Wells Fargo & Company in a research report on Tuesday. Barclays cut their price objective 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. Finally, Morgan Stanley increased their price objective on Wells Fargo & Company from $77.00 to $87.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Eight analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and an average target price of $78.98.

Wells Fargo & Company Stock Performance

WFC stock traded up $0.19 during midday trading on Wednesday, hitting $81.78. 16,107,019 shares of the stock traded hands, compared to its average volume of 17,398,464. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $83.95. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $266.13 billion, a P/E ratio of 14.68, a PEG ratio of 1.38 and a beta of 1.16. The stock's fifty day simple moving average is $75.81 and its 200-day simple moving average is $73.64.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.15% and a net margin of 16.19%. The firm had revenue of $20.15 billion for the quarter, compared to analysts' expectations of $20.82 billion. During the same period last year, the firm earned $1.20 EPS. The company's quarterly revenue was down 3.4% on a year-over-year basis. On average, analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company announced that its Board of Directors has initiated a stock buyback 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 reacquire up to 17.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 9th were paid a $0.40 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.60 dividend on an annualized basis and a yield of 1.96%. Wells Fargo & Company's dividend payout ratio is currently 28.73%.

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.