B. Metzler seel. Sohn & Co. AG Reduces Stock Position in Wells Fargo & Company (NYSE:WFC)

B. Metzler seel. Sohn & Co. AG trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 39.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 125,718 shares of the financial services provider’s stock after selling 82,928 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in Wells Fargo & Company were worth $8,830,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WFC. Rialto Wealth Management LLC purchased a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. increased its position in shares of Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 237 shares during the last quarter. Modus Advisors LLC purchased a new stake in Wells Fargo & Company during the 4th quarter valued at $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company in the fourth quarter worth $30,000. Finally, Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company during the fourth quarter worth $32,000. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

WFC has been the topic of several recent analyst reports. Barclays increased their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Thursday, March 13th. Compass Point raised their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Piper Sandler upped their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, The Goldman Sachs Group lifted their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and an average price target of $74.97.

Wells Fargo & Company Trading Down 2.2 %

Shares of Wells Fargo & Company stock opened at $70.71 on Monday. The firm has a market capitalization of $230.87 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 1.18 and a beta of 1.16. 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 firm’s 50 day simple moving average is $75.84 and its two-hundred day simple moving average is $70.14. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. Analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. Wells Fargo & Company’s payout ratio is 29.74%.

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.