Commerzbank Aktiengesellschaft FI Boosts Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Commerzbank Aktiengesellschaft FI increased its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 48.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 93,726 shares of the financial services provider's stock after buying an additional 30,759 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in Wells Fargo & Company were worth $6,729,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Investment Counsel Co. of Nevada acquired a new stake in Wells Fargo & Company during the 4th quarter worth $28,000. BNP Paribas acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $28,000. Parvin Asset Management LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $32,000. Dunhill Financial LLC raised its stake in shares of Wells Fargo & Company by 63.7% in the 4th quarter. Dunhill Financial LLC now owns 496 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 193 shares during the period. Finally, Orion Capital Management LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Stock Up 1.2%

WFC traded up $0.93 on Friday, hitting $80.64. The company had a trading volume of 21,202,185 shares, compared to its average volume of 17,439,614. 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 52-week low of $50.15 and a 52-week high of $83.95. The stock has a fifty day simple moving average of $76.98 and a 200-day simple moving average of $74.11. The firm has a market capitalization of $262.42 billion, a P/E ratio of 13.81, a P/E/G ratio of 1.35 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping 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 12.29%. The business had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. During the same period last year, the business posted $1.33 earnings per share. Wells Fargo & Company's quarterly revenue was up .6% compared to the same quarter last year. As a group, equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company announced that its board has approved a share buyback plan on Tuesday, April 29th that permits the company to buyback $40.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 17.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Friday, May 9th. Wells Fargo & Company's payout ratio is 27.40%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. TD Cowen assumed coverage on Wells Fargo & Company in a research note on Thursday, May 15th. They issued a "hold" rating and a $83.00 price target on the stock. Barclays dropped their price target on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Bank of America lifted their price target on Wells Fargo & Company from $83.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Cowen reissued a "hold" rating on shares of Wells Fargo & Company in a research note on Wednesday. Finally, Citigroup restated a "neutral" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $80.39.

Wells Fargo & Company Profile

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.