10,769 Shares in Wells Fargo & Company $WFC Purchased by MidFirst Bank

MidFirst Bank bought a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, Holdings Channel reports. The fund bought 10,769 shares of the financial services provider’s stock, valued at approximately $890,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new stake in Wells Fargo & Company during the fourth quarter worth approximately $4,512,563,000. Bank of New York Mellon Corp bought a new stake in shares of Wells Fargo & Company during the second quarter worth approximately $1,364,923,000. Deutsche Bank AG acquired a new position in shares of Wells Fargo & Company in the second quarter valued at approximately $859,431,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Wells Fargo & Company in the second quarter valued at approximately $620,861,000. Finally, Amundi increased its stake in shares of Wells Fargo & Company by 73.0% during the first quarter. Amundi now owns 16,463,550 shares of the financial services provider’s stock worth $1,310,663,000 after purchasing an additional 6,944,316 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Wells Fargo & Company from $93.50 to $95.50 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Phillip Securities upgraded Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, May 7th. UBS Group dropped their target price on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Robert W. Baird boosted their target price on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Finally, Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $98.61.

Wells Fargo & Company Trading Up 0.2%

Shares of WFC stock opened at $83.83 on Friday. The stock has a market cap of $253.50 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 0.91 and a beta of 0.92. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year high of $97.76. 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 50 day simple moving average of $86.08 and a 200 day simple moving average of $82.97.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.23. The firm had revenue of $22.62 billion for the quarter, compared to analyst estimates of $21.86 billion. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The company’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $1.60 EPS. On average, research analysts predict that Wells Fargo & Company will post 7.26 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be issued a dividend of $0.50 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 7th. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. Wells Fargo & Company’s payout ratio is currently 29.07%.

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.