Siemens Fonds Invest GmbH Has $98,000 Position in Wells Fargo & Company (NYSE:WFC)

Siemens Fonds Invest GmbH decreased its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 98.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,391 shares of the financial services provider's stock after selling 90,656 shares during the quarter. Siemens Fonds Invest GmbH's holdings in Wells Fargo & Company were worth $98,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in WFC. Norges Bank acquired a new position in Wells Fargo & Company during the fourth quarter worth $3,365,658,000. Capital Research Global Investors increased its position in shares of Wells Fargo & Company by 932.0% during the 4th quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider's stock worth $1,105,218,000 after purchasing an additional 14,210,193 shares in the last quarter. Northern Trust Corp lifted its holdings in Wells Fargo & Company by 10.7% during the 4th quarter. Northern Trust Corp now owns 34,339,295 shares of the financial services provider's stock valued at $2,411,992,000 after purchasing an additional 3,307,855 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Wells Fargo & Company in the fourth quarter valued at about $198,801,000. Finally, Theleme Partners LLP bought a new stake in Wells Fargo & Company during the fourth quarter worth about $187,049,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Bank of America reduced their target price on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. TD Cowen assumed coverage on Wells Fargo & Company in a research note on Thursday, May 15th. They issued a "hold" rating and a $83.00 price objective on the stock. Piper Sandler lowered their target price on Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Barclays cut their price target on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $75.73.

Wells Fargo & Company Stock Down 0.2%

Shares of WFC stock traded down $0.14 during trading on Monday, reaching $74.64. The company's stock had a trading volume of 11,235,076 shares, compared to its average volume of 17,416,666. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The business has a fifty day moving average price of $70.07 and a 200-day moving average price of $72.91. The company has a market cap of $242.90 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 1.18 and a beta of 1.13. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.23 by $0.16. The firm had revenue of $20.15 billion for the quarter, compared to analysts' expectations of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company's revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 EPS. Analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company declared that its board has authorized a stock buyback program on Tuesday, April 29th that authorizes the company to buyback $40.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 17.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 9th were given a dividend of $0.40 per share. The ex-dividend date was Friday, May 9th. This represents a $1.60 annualized dividend and a yield of 2.14%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 28.73%.

Wells Fargo & Company 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.