DekaBank Deutsche Girozentrale Raises Position in Wells Fargo & Company $WFC

DekaBank Deutsche Girozentrale raised its holdings in Wells Fargo & Company (NYSE:WFC) by 0.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,551,518 shares of the financial services provider’s stock after acquiring an additional 6,920 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Wells Fargo & Company were worth $124,597,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WFC. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Wells Fargo & Company by 2,735,254.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after buying an additional 949,735,001 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Wells Fargo & Company by 277.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock worth $771,092,000 after purchasing an additional 7,894,919 shares during the last quarter. Strs Ohio purchased a new stake in shares of Wells Fargo & Company during the 1st quarter worth $109,643,000. Canada Pension Plan Investment Board lifted its position in shares of Wells Fargo & Company by 34.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock worth $381,016,000 after purchasing an additional 1,365,629 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Wells Fargo & Company by 30.5% during the 1st quarter. Principal Financial Group Inc. now owns 4,926,423 shares of the financial services provider’s stock worth $353,668,000 after purchasing an additional 1,152,181 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of WFC opened at $85.97 on Tuesday. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $87.47. The stock has a market cap 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. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a fifty day moving average price of $81.38 and a 200 day moving average price of $77.19.

Wells Fargo & Company Increases Dividend

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

Analyst Ratings Changes

WFC has been the subject of several recent analyst reports. Truist Financial lifted their price objective on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Keefe, Bruyette & Woods lifted their price objective on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 15th. Cfra Research raised shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Wednesday, October 15th. Raymond James Financial cut shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 7th. Finally, Evercore ISI lifted their price objective on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Ten research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus target price 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.