Siemens Fonds Invest GmbH Trims Stock Position in Wells Fargo & Company (NYSE:WFC)

Siemens Fonds Invest GmbH lessened its position in shares of Wells Fargo & Company (NYSE:WFC) by 98.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. raised its position in Wells Fargo & Company by 34.6% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 15,183 shares of the financial services provider's stock valued at $1,066,000 after purchasing an additional 3,905 shares during the period. Procyon Advisors LLC raised its position in Wells Fargo & Company by 7.3% in the fourth quarter. Procyon Advisors LLC now owns 6,639 shares of the financial services provider's stock valued at $466,000 after purchasing an additional 454 shares during the period. Wealthcare Advisory Partners LLC raised its position in Wells Fargo & Company by 2.6% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 12,159 shares of the financial services provider's stock valued at $854,000 after purchasing an additional 311 shares during the period. Merit Financial Group LLC raised its position in Wells Fargo & Company by 9.5% in the fourth quarter. Merit Financial Group LLC now owns 95,923 shares of the financial services provider's stock valued at $6,738,000 after purchasing an additional 8,311 shares during the period. Finally, Arkadios Wealth Advisors raised its position in Wells Fargo & Company by 11.7% in the fourth quarter. Arkadios Wealth Advisors now owns 22,111 shares of the financial services provider's stock valued at $1,553,000 after purchasing an additional 2,310 shares during the period. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $76.21 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The business's 50 day moving average is $69.60 and its two-hundred day moving average is $72.59. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The stock has a market capitalization of $248.01 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 1.18 and a beta of 1.13.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced 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 business had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company's quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.20 EPS. Research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company announced that its board has initiated a share repurchase 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 shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 9th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Friday, May 9th. Wells Fargo & Company's dividend payout ratio (DPR) is 28.73%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WFC. Piper Sandler cut their target price on Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. TD Cowen started coverage on Wells Fargo & Company in a research report on Thursday. They set a "hold" rating and a $83.00 price objective on the stock. 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 research report on Monday, April 14th. Morgan Stanley upped their price objective on Wells Fargo & Company from $79.00 to $80.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. cut their price objective on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Seven equities 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's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $75.73.

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.

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