Commerzbank Aktiengesellschaft FI Invests $8.60 Million in Wells Fargo & Company $WFC

Commerzbank Aktiengesellschaft FI acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 102,542 shares of the financial services provider’s stock, valued at approximately $8,596,000.

A number of other large investors have also bought and sold shares of WFC. Access Investment Management LLC bought a new stake in shares of Wells Fargo & Company during the second quarter worth $25,000. McElhenny Sheffield Capital Management LLC bought a new stake in Wells Fargo & Company in the 2nd quarter valued at $27,000. Marquette Asset Management LLC boosted its stake in Wells Fargo & Company by 472.4% in the 3rd quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 274 shares during the period. Grey Fox Wealth Advisors LLC bought a new position in Wells Fargo & Company during the 3rd quarter worth about $30,000. Finally, Kilter Group LLC acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at about $31,000. 75.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on WFC. Keefe, Bruyette & Woods upped their price objective on Wells Fargo & Company from $92.00 to $101.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 17th. CICC Research initiated coverage on Wells Fargo & Company in a research report on Wednesday, January 14th. They set a “market perform” rating and a $96.00 price target for the company. Robert W. Baird downgraded shares of Wells Fargo & Company from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. Cfra Research raised shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Wednesday, October 15th. Finally, Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Thirteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $94.87.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $87.00 on Friday. The firm has a market capitalization of $273.11 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 0.94 and a beta of 1.09. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.05. The firm’s fifty day moving average price is $90.33 and its two-hundred day moving average price is $85.00. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $97.76.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. The company had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.43 EPS. As a group, research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

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

About Wells Fargo & Company

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.