Commerzbank Aktiengesellschaft FI Boosts Holdings in Wells Fargo & Company $WFC

Commerzbank Aktiengesellschaft FI increased its position in Wells Fargo & Company (NYSE:WFC) by 9.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 117,865 shares of the financial services provider’s stock after buying an additional 9,939 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Wells Fargo & Company were worth $9,383,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in Wells Fargo & Company during the 4th quarter worth $4,512,563,000. Mawer Investment Management Ltd. boosted its position in Wells Fargo & Company by 177.7% in the 4th quarter. Mawer Investment Management Ltd. now owns 4,876,127 shares of the financial services provider’s stock valued at $454,455,000 after buying an additional 3,120,399 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Wells Fargo & Company by 13.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,625,070 shares of the financial services provider’s stock valued at $1,922,257,000 after acquiring an additional 2,369,260 shares in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Wells Fargo & Company during the fourth quarter valued at about $173,651,000. Finally, Capital Research Global Investors increased its position in shares of Wells Fargo & Company by 4.9% during the fourth quarter. Capital Research Global Investors now owns 37,421,387 shares of the financial services provider’s stock worth $3,487,687,000 after acquiring an additional 1,760,484 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on WFC shares. UBS Group cut their price target on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Truist Financial raised their price objective on Wells Fargo & Company from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Raymond James Financial restated a “market perform” rating on shares of Wells Fargo & Company in a report on Tuesday, July 14th. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the company. Based on 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 Stock Down 1.5%

Shares of Wells Fargo & Company stock opened at $86.24 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.09. The firm 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. Wells Fargo & Company has a fifty-two week low of $72.78 and a fifty-two week high of $97.76. The business has a 50-day moving average price of $81.70 and a 200 day moving average price of $83.63.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company’s payout ratio is 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.