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

Baader Bank Aktiengesellschaft lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 15.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 46,660 shares of the financial services provider’s stock after selling 8,566 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Wells Fargo & Company were worth $3,710,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in WFC. Godfrey Financial Associates Inc. acquired a new position in Wells Fargo & Company during the fourth quarter worth approximately $25,000. Miller Capital Partners Inc. purchased a new position in Wells Fargo & Company during the fourth quarter worth approximately $25,000. Navalign LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $26,000. Joseph Group Capital Management acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $28,000. Finally, Core Wealth Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $29,000. 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 debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a 50-day moving average of $81.70 and a two-hundred day moving average of $83.63. The stock has a market cap of $263.90 billion, a P/E ratio of 12.53, a PEG ratio of 0.96 and a beta of 0.92. Wells Fargo & Company has a 1-year low of $72.78 and a 1-year high of $97.76.

Wells Fargo & Company Announces Dividend

The business 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 annualized dividend and a dividend yield of 2.1%. Wells Fargo & Company’s dividend payout ratio (DPR) is 26.16%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on WFC shares. Piper Sandler restated 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. The Goldman Sachs Group decreased their target price on Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Keefe, Bruyette & Woods dropped their target price on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating for the company in a research report on Wednesday, July 15th. Phillip Securities raised shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Finally, Jefferies Financial Group initiated coverage on shares of Wells Fargo & Company in a research note on Thursday, March 26th. They set a “buy” rating and a $100.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus price target of $98.50.

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.