Wells Fargo & Company $WFC Shares Bought by DekaBank Deutsche Girozentrale

Key Points

• DekaBank Deutsche Girozentrale has increased its holdings in Wells Fargo by 0.4% during the second quarter, owning 1,551,518 shares valued at approximately $124.6 million.
• Wells Fargo recently increased its quarterly dividend from $0.40 to $0.45, representing an annual yield of 2.1%.
• Analysts have raised their price targets for Wells Fargo, with Citigroup and Truist Financial setting targets of $90, indicating a generally positive outlook for the stock.

DekaBank Deutsche Girozentrale raised its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 0.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,551,518 shares of the financial services provider's stock after acquiring an additional 6,920 shares during the period. DekaBank Deutsche Girozentrale's holdings in Wells Fargo & Company were worth $124,597,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Accretive Wealth Partners LLC acquired a new stake in shares of Wells Fargo & Company during the 1st quarter worth approximately $399,000. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in shares of Wells Fargo & Company by 10.4% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider's stock worth $54,471,000 after buying an additional 71,740 shares during the last quarter. Secured Retirement Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the 1st quarter worth approximately $408,000. RKL Wealth Management LLC increased its holdings in shares of Wells Fargo & Company by 166.4% during the 1st quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider's stock worth $588,000 after buying an additional 5,113 shares during the last quarter. Finally, Three Bridge Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter worth approximately $364,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Stock Up 3.2%

Wells Fargo & Company stock opened at $85.97 on Tuesday. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $87.47. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a 50 day moving average price of $81.38 and a 200 day moving average price of $77.19. The company has a market capitalization of $275.39 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 1.15 and a beta of 1.25.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 annualized dividend and a yield of 2.1%. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.40. Wells Fargo & Company's dividend payout ratio is 29.61%.

Analysts Set New Price Targets

WFC has been the subject of a number of recent analyst reports. Citigroup raised their price target on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, September 23rd. Dbs Bank upgraded shares of Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Truist Financial raised their price target on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, October 15th. Phillip Securities downgraded shares of Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, July 17th. Finally, Barclays lifted their target price on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, October 15th. Ten analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $89.57.

About Wells Fargo & Company

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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