10,950 Shares in Wells Fargo & Company $WFC Acquired by Madison Asset Management LLC

Madison Asset Management LLC purchased a new position in Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 10,950 shares of the financial services provider’s stock, valued at approximately $905,000.

Other institutional investors have also added to or reduced their stakes in the company. Csenge Advisory Group purchased a new stake in Wells Fargo & Company during the 2nd quarter valued at approximately $696,000. AssuredPartners Investment Advisors LLC purchased a new position in shares of Wells Fargo & Company in the second quarter worth $353,000. Johnson Financial Group Inc. purchased a new position in shares of Wells Fargo & Company in the second quarter worth $2,872,000. Tocqueville Asset Management L.P. bought a new position in shares of Wells Fargo & Company during the second quarter worth $957,000. Finally, one8zero8 LLC bought a new position in shares of Wells Fargo & Company during the second quarter worth $571,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 0.0%

NYSE WFC opened at $83.83 on Monday. The stock has a 50 day moving average price of $86.08 and a 200-day moving average price of $82.91. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $253.50 billion, a P/E ratio of 12.18, a P/E/G ratio of 0.91 and a beta of 0.92.

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

Wells Fargo & Company Increases Dividend

The firm 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 $0.50 dividend. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. Wells Fargo & Company’s payout ratio is presently 29.07%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WFC. Morgan Stanley raised their target price on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Robert W. Baird boosted their price target on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Friday, July 17th. Finally, Bank of America lifted their target price on Wells Fargo & Company from $95.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average price target of $98.61.

Wells Fargo & 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.