Commerzbank Aktiengesellschaft FI Purchases Shares of 102,542 Wells Fargo & Company $WFC

Commerzbank Aktiengesellschaft FI acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) in the third quarter, HoldingsChannel.com reports. The firm acquired 102,542 shares of the financial services provider’s stock, valued at approximately $8,596,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First Citizens Bank & Trust Co. lifted its stake in shares of Wells Fargo & Company by 3.4% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 29,212 shares of the financial services provider’s stock worth $2,449,000 after buying an additional 955 shares during the last quarter. Sawgrass Asset Management LLC grew its stake in Wells Fargo & Company by 9.1% in the 3rd quarter. Sawgrass Asset Management LLC now owns 7,570 shares of the financial services provider’s stock valued at $635,000 after buying an additional 630 shares during the last quarter. Heritage Investment Group Inc. raised its holdings in Wells Fargo & Company by 14.7% in the 3rd quarter. Heritage Investment Group Inc. now owns 7,120 shares of the financial services provider’s stock valued at $597,000 after acquiring an additional 915 shares during the period. FSB Premier Wealth Management Inc. lifted its position in Wells Fargo & Company by 17.0% during the third quarter. FSB Premier Wealth Management Inc. now owns 40,457 shares of the financial services provider’s stock worth $3,391,000 after acquiring an additional 5,884 shares during the last quarter. Finally, 1834 Investment Advisors Co. boosted its holdings in shares of Wells Fargo & Company by 0.8% during the third quarter. 1834 Investment Advisors Co. now owns 18,162 shares of the financial services provider’s stock worth $1,522,000 after acquiring an additional 136 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Down 1.2%

Shares of WFC opened at $87.00 on Friday. The firm has a 50 day simple moving average of $90.33 and a two-hundred day simple moving average of $85.00. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.84. Wells Fargo & Company has a one year low of $58.42 and a one year high of $97.76. The company has a market cap of $273.11 billion, a P/E ratio of 13.88, a P/E/G ratio of 0.94 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The firm had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $21.63 billion. During the same quarter last year, the business posted $1.43 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. Research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, November 7th. Wells Fargo & Company’s payout ratio is currently 28.71%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WFC. Cfra Research upgraded Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Evercore ISI reduced their price target on Wells Fargo & Company from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday, January 15th. Robert W. Baird cut Wells Fargo & Company from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 6th. TD Cowen dropped their target price on Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, January 15th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $100.00 target price on shares of Wells Fargo & Company in a research report on Thursday, January 15th. Thirteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.87.

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.