Wells Fargo & Company $WFC Shares Purchased by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 9.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 117,865 shares of the financial services provider’s stock after acquiring an additional 9,939 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Wells Fargo & Company were worth $9,383,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Private Wealth Group LLC boosted its position in shares of Wells Fargo & Company by 2.5% in the fourth quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider’s stock worth $421,000 after acquiring an additional 108 shares during the last quarter. Nixon Peabody Trust Co. increased its position in Wells Fargo & Company by 3.6% during the fourth quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock worth $312,000 after purchasing an additional 115 shares during the last quarter. Simmons Bank raised its stake in Wells Fargo & Company by 1.9% during the fourth quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 116 shares during the period. Moss Adams Wealth Advisors LLC raised its stake in Wells Fargo & Company by 1.0% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider’s stock worth $1,123,000 after purchasing an additional 117 shares during the period. Finally, Wood Tarver Financial Group LLC boosted its holdings in shares of Wells Fargo & Company by 1.6% in the 4th quarter. Wood Tarver Financial Group LLC now owns 7,754 shares of the financial services provider’s stock valued at $722,000 after purchasing an additional 120 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on WFC shares. KGI Securities cut shares of Wells Fargo & Company to a “hold” rating in a research note on Thursday, April 16th. Morgan Stanley increased their target price on Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Robert W. Baird boosted their price target 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. The Goldman Sachs Group dropped their price target on Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Finally, Keefe, Bruyette & Woods cut their price objective on 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. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.50.

Wells Fargo & Company Stock Down 1.5%

Shares of NYSE WFC opened at $86.24 on Tuesday. Wells Fargo & Company has a 12-month low of $72.78 and a 12-month high of $97.76. The company has a market cap of $263.90 billion, a P/E ratio of 12.53, a P/E/G ratio of 0.96 and a beta of 0.92. 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 stock has a fifty day moving average price of $81.70 and a 200 day moving average price of $83.63.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were given 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 is presently 26.16%.

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.