Raiffeisen Bank International AG Has $2.83 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Key Points

• Raiffeisen Bank International AG increased its stake in Wells Fargo & Company by 41.2%, acquiring an additional 11,660 shares, bringing its total holdings to 39,957 shares worth approximately $2.8 million.
• Wells Fargo recently announced a quarterly dividend increase to $0.45 per share, up from $0.40, with a yield of 2.3% and a dividend payout ratio of 27.4%.
• The company's share repurchase plan allows Wells Fargo to buy back $40 billion worth of stock, indicating the board's belief that the stock is undervalued.

Raiffeisen Bank International AG lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 41.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,957 shares of the financial services provider's stock after buying an additional 11,660 shares during the period. Raiffeisen Bank International AG's holdings in Wells Fargo & Company were worth $2,825,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Investment Counsel Co. of Nevada acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at $28,000. BNP Paribas bought a new stake in Wells Fargo & Company in the 4th quarter valued at about $28,000. Motco boosted its stake in Wells Fargo & Company by 397.6% during the 1st quarter. Motco now owns 408 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 326 shares during the period. Parvin Asset Management LLC bought a new position in Wells Fargo & Company in the 4th quarter worth about $32,000. Finally, Dunhill Financial LLC increased its stake in shares of Wells Fargo & Company by 63.7% in the fourth quarter. Dunhill Financial LLC now owns 496 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 193 shares during the period. Institutional investors and hedge funds own 75.90% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on WFC shares. Barclays lowered their target price on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Dbs Bank upgraded shares of Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Piper Sandler reissued an "overweight" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Cowen reaffirmed a "hold" rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Finally, Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $77.00 to $87.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $80.39.

Wells Fargo & Company Price Performance

Shares of WFC stock traded up $0.37 on Tuesday, reaching $77.95. The company had a trading volume of 15,762,543 shares, compared to its average volume of 19,101,620. The stock has a market capitalization of $253.66 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 1.21 and a beta of 1.20. 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 business's 50-day moving average is $78.65 and its 200 day moving average is $74.93. Wells Fargo & Company has a one year low of $50.22 and a one year high of $84.83.

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

Wells Fargo & Company Increases Dividend

The company 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 $0.45 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.40. Wells Fargo & Company's payout ratio is currently 27.40%.

Wells Fargo & Company announced that its Board of Directors has authorized a share buyback program on Tuesday, April 29th that allows the company to repurchase $40.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 17.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

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.