Raiffeisen Bank International AG Lowers Holdings in Wells Fargo & Company $WFC

Raiffeisen Bank International AG decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 14.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 60,109 shares of the financial services provider’s stock after selling 9,797 shares during the quarter. Raiffeisen Bank International AG’s holdings in Wells Fargo & Company were worth $5,020,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Godfrey Financial Associates Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $25,000. Miller Capital Partners Inc. acquired a new position in Wells Fargo & Company in the fourth quarter valued at about $25,000. Navalign LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at about $26,000. Phillip James Consulting Co. purchased a new position in Wells Fargo & Company during the first quarter worth about $28,000. Finally, Core Wealth Advisors LLC purchased a new position in Wells Fargo & Company during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.8%

Wells Fargo & Company stock opened at $89.90 on Friday. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76. The stock’s fifty day simple moving average is $86.69 and its 200-day simple moving average is $82.66. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $271.86 billion, a P/E ratio of 13.07, a P/E/G ratio of 0.97 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.23. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The firm had revenue of $22.62 billion during the quarter, compared to analyst estimates of $21.86 billion. During the same period last year, the business posted $1.60 earnings per share. Wells Fargo & Company’s revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts expect that Wells Fargo & Company will post 7.26 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s dividend payout ratio is 29.07%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on WFC shares. JPMorgan Chase & Co. lifted their price target on shares of Wells Fargo & Company from $93.50 to $95.50 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods decreased their price objective on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating on the stock in a report on Wednesday, July 15th. Truist Financial increased their price objective on shares of Wells Fargo & Company from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. Raymond James Financial reiterated a “market perform” rating on shares of Wells Fargo & Company in a report on Tuesday, July 14th. Finally, Robert W. Baird boosted their target price on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average price target of $98.61.

Wells Fargo & Company 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.