Wells Fargo & Company $WFC Shares Sold by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft lowered its stake in Wells Fargo & Company (NYSE:WFC) by 15.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 46,660 shares of the financial services provider’s stock after selling 8,566 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Wells Fargo & Company were worth $3,710,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Diversified Trust Co. lifted its position in Wells Fargo & Company by 59.7% during the fourth quarter. Diversified Trust Co. now owns 35,285 shares of the financial services provider’s stock valued at $3,289,000 after purchasing an additional 13,196 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Wells Fargo & Company by 19.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 532,300 shares of the financial services provider’s stock worth $49,610,000 after purchasing an additional 84,902 shares during the last quarter. Swiss Life Asset Management Ltd grew its position in Wells Fargo & Company by 4.2% in the 4th quarter. Swiss Life Asset Management Ltd now owns 350,567 shares of the financial services provider’s stock worth $32,673,000 after purchasing an additional 14,168 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in Wells Fargo & Company by 4.4% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 412,511 shares of the financial services provider’s stock worth $38,446,000 after purchasing an additional 17,302 shares during the period. Finally, Winning Points Advisors LLC purchased a new stake in Wells Fargo & Company during the 4th quarter valued at $3,384,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $86.24 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76. The business has a 50-day moving average price of $81.70 and a 200-day moving average price of $83.63. The firm has a market cap of $263.90 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 0.96 and a beta of 0.92.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. Wells Fargo & Company’s payout ratio is currently 26.16%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WFC. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Jefferies Financial Group assumed coverage on shares of Wells Fargo & Company in a research report on Thursday, March 26th. They set a “buy” rating and a $100.00 price target for the company. Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Piper Sandler reissued an “overweight” rating and issued a $94.00 price objective (down from $100.00) on shares of Wells Fargo & Company in a report on Wednesday, April 15th. Finally, Phillip Securities upgraded shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $98.50.

Wells Fargo & Company Profile

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.