Wells Fargo & Company (NYSE:WFC) Shares Purchased by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 48.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 93,726 shares of the financial services provider’s stock after acquiring an additional 30,759 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Wells Fargo & Company were worth $6,729,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in WFC. Norges Bank purchased a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $3,365,658,000. Northern Trust Corp raised its position in Wells Fargo & Company by 10.7% in the fourth quarter. Northern Trust Corp now owns 34,339,295 shares of the financial services provider’s stock valued at $2,411,992,000 after purchasing an additional 3,307,855 shares during the period. Dimensional Fund Advisors LP raised its position in Wells Fargo & Company by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 20,369,222 shares of the financial services provider’s stock valued at $1,430,742,000 after purchasing an additional 238,131 shares during the period. Capital Research Global Investors raised its position in Wells Fargo & Company by 932.0% in the fourth quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider’s stock valued at $1,105,218,000 after purchasing an additional 14,210,193 shares during the period. Finally, Capital World Investors raised its position in Wells Fargo & Company by 0.4% in the fourth quarter. Capital World Investors now owns 13,914,098 shares of the financial services provider’s stock valued at $977,338,000 after purchasing an additional 62,099 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $79.90 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.84. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $83.95. The company has a market capitalization of $260.00 billion, a PE ratio of 13.68, a P/E/G ratio of 1.33 and a beta of 1.16. The company has a fifty day moving average of $76.85 and a two-hundred day moving average of $74.05.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.33%. The company had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. During the same quarter in the prior year, the firm posted $1.33 earnings per share. Wells Fargo & Company’s revenue for the quarter was up .6% on a year-over-year basis. As a group, analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company declared that its board has initiated a stock repurchase plan on Tuesday, April 29th that authorizes the company to repurchase $40.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 17.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 9th were paid a $0.40 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.60 annualized dividend and a yield of 2.00%. Wells Fargo & Company’s dividend payout ratio is presently 27.40%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Barclays cut their target price on Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Truist Financial upped their price objective on Wells Fargo & Company from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Evercore ISI reaffirmed an “outperform” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Citigroup reaffirmed a “neutral” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Finally, TD Cowen began coverage on Wells Fargo & Company in a research report on Thursday, May 15th. They set a “hold” rating and a $83.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.39.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.