MidFirst Bank Takes $994,000 Position in Wells Fargo & Company $WFC

MidFirst Bank purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, HoldingsChannel reports. The firm purchased 10,664 shares of the financial services provider’s stock, valued at approximately $994,000.

A number of other large investors also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $4,512,563,000. Capital Research Global Investors grew its position in shares of Wells Fargo & Company by 4.9% in the fourth quarter. Capital Research Global Investors now owns 37,421,387 shares of the financial services provider’s stock valued at $3,487,687,000 after purchasing an additional 1,760,484 shares during the period. Legal & General Group Plc raised its position in shares of Wells Fargo & Company by 0.9% during the 4th quarter. Legal & General Group Plc now owns 21,197,423 shares of the financial services provider’s stock worth $1,975,600,000 after purchasing an additional 188,186 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Wells Fargo & Company by 13.0% in the 4th 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 buying an additional 2,369,260 shares in the last quarter. Finally, Boston Partners boosted its holdings in Wells Fargo & Company by 5.2% in the 4th quarter. Boston Partners now owns 9,606,215 shares of the financial services provider’s stock worth $895,466,000 after buying an additional 477,745 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.1%

Shares of NYSE WFC opened at $82.31 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $251.89 billion, a PE ratio of 12.70, a PEG ratio of 0.96 and a beta of 0.93. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76. The stock has a fifty day simple moving average of $79.70 and a 200-day simple moving average of $84.59.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.02. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The firm had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. During the same quarter in the prior year, the company earned $1.39 EPS. Wells Fargo & Company’s revenue was up 6.4% on a year-over-year basis. On average, equities analysts forecast that Wells Fargo & Company will post 6.86 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio is currently 27.78%.

Analyst Ratings Changes

WFC has been the subject of a number of research analyst reports. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. The Goldman Sachs Group dropped their price target on Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating for the company in a research report on Monday, March 23rd. Piper Sandler reiterated an “overweight” rating and issued a $94.00 target price (down from $100.00) on shares of Wells Fargo & Company in a research report on Wednesday, April 15th. Evercore reiterated an “outperform” rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Wells Fargo & Company from $91.00 to $86.50 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.24.

About Wells Fargo & Company

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.