Deutsche Bank AG Makes New Investment in Wells Fargo & Company $WFC

Deutsche Bank AG purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,399,699 shares of the financial services provider's stock, valued at approximately $859,431,000. Deutsche Bank AG owned 0.34% of Wells Fargo & Company at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC acquired a new stake in Wells Fargo & Company during the 2nd quarter worth approximately $11,460,000. Commerzbank Aktiengesellschaft FI purchased a new stake in Wells Fargo & Company during the 2nd quarter worth $9,432,000. Pursue Wealth Partners LLC acquired a new position in Wells Fargo & Company in the 2nd quarter worth $457,000. Phillips Wealth Planners LLC purchased a new position in Wells Fargo & Company in the 2nd quarter valued at about $925,000. Finally, Trust Co. of Vermont purchased a new position in Wells Fargo & Company in the 2nd quarter valued at about $837,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Wells Fargo & Company in a research report on Friday, July 17th. Bank of America raised their price objective on Wells Fargo & Company from $95.00 to $102.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Robert W. Baird upped their target price on Wells Fargo & Company from $85.00 to $92.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods cut their target price on Wells Fargo & Company from $98.00 to $94.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 15th. Finally, Morgan Stanley increased their target price on Wells Fargo & Company from $97.00 to $102.00 and gave the company an "equal weight" rating in a research note on Monday, June 29th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $98.61.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $83.83 on Friday. The stock has a market capitalization of $253.50 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 0.91 and a beta of 0.92. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76. The company's 50-day simple moving average is $86.08 and its 200-day simple moving average is $82.97. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90.

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

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be issued a $0.50 dividend. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 29.07%.

About Wells Fargo & Company

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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