Trust Department MB Financial Bank N A increased its stake in Wells Fargo & Co. (NYSE:WFC) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 319,540 shares of the financial services provider’s stock after buying an additional 3,093 shares during the period. Wells Fargo & Co. makes up approximately 1.6% of Trust Department MB Financial Bank N A’s holdings, making the stock its 13th largest position. Trust Department MB Financial Bank N A’s holdings in Wells Fargo & Co. were worth $15,124,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Beacon Financial Group raised its position in Wells Fargo & Co. by 75.1% in the first quarter. Beacon Financial Group now owns 222,548 shares of the financial services provider’s stock valued at $10,826,000 after buying an additional 95,481 shares in the last quarter. Choate Investment Advisors raised its position in Wells Fargo & Co. by 11.0% in the fourth quarter. Choate Investment Advisors now owns 106,671 shares of the financial services provider’s stock valued at $5,848,000 after buying an additional 10,582 shares in the last quarter. Feltz Wealth PLAN Inc. bought a new position in Wells Fargo & Co. during the fourth quarter valued at about $3,520,000. Investment Counsel Inc. bought a new position in Wells Fargo & Co. during the fourth quarter valued at about $2,894,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Wells Fargo & Co. during the fourth quarter valued at about $20,688,000. Hedge funds and other institutional investors own 74.01% of the company’s stock.
Shares of Wells Fargo & Co. (NYSE:WFC) traded down 1.56% on Friday, hitting $45.43. The stock had a trading volume of 51,871,380 shares. Wells Fargo & Co. has a 52 week low of $44.50 and a 52 week high of $56.34. The company has a market capitalization of $229.22 billion, a price-to-earnings ratio of 11.22 and a beta of 0.90. The company has a 50-day moving average of $48.71 and a 200 day moving average of $48.74.
Wells Fargo & Co. (NYSE:WFC) last posted its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.01. Wells Fargo & Co. had a return on equity of 12.95% and a net margin of 24.33%. The business had revenue of $22.20 billion for the quarter. During the same period last year, the company posted $1.03 earnings per share. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities research analysts predict that Wells Fargo & Co. will post $4.03 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 5th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date was Wednesday, August 3rd. Wells Fargo & Co.’s dividend payout ratio (DPR) is currently 37.25%.
Several research analysts have issued reports on the company. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Wells Fargo & Co. in a research note on Wednesday, August 31st. FBR & Co restated a “buy” rating and set a $63.00 target price on shares of Wells Fargo & Co. in a report on Wednesday, June 1st. Vetr cut Wells Fargo & Co. from a “hold” rating to a “sell” rating and set a $46.32 target price on the stock. in a report on Tuesday, August 30th. Royal Bank Of Canada restated a “buy” rating on shares of Wells Fargo & Co. in a report on Thursday, May 26th. Finally, Drexel Hamilton restated a “buy” rating on shares of Wells Fargo & Co. in a report on Thursday, May 26th. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $52.29.
In related news, COO Timothy J. Sloan sold 20,500 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $48.92, for a total transaction of $1,002,860.00. Following the transaction, the chief operating officer now directly owns 650,815 shares of the company’s stock, valued at approximately $31,837,869.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.
About Wells Fargo & Co.
Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.