Bokf Na Buys 12,292 Shares of Wells Fargo & Company (NYSE:WFC)

BOKF NA raised its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 220,599 shares of the financial services provider's stock after buying an additional 12,292 shares during the period. BOKF NA's holdings in Wells Fargo & Company were worth $15,433,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Rialto Wealth Management LLC bought a new stake in Wells Fargo & Company during the fourth quarter valued at about $26,000. Investment Counsel Co. of Nevada bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $28,000. BNP Paribas purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $28,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company during the 4th quarter worth approximately $30,000. Finally, Rakuten Securities Inc. lifted its holdings in Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WFC shares. Raymond James reduced their price objective on shares of Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating for the company in a research note on Monday, April 14th. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, April 14th. Bank of America cut their target price on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Barclays dropped their price target on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Finally, Morgan Stanley lifted their price objective on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the company an "overweight" rating in a research report on Monday, April 7th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $75.34.

Wells Fargo & Company Trading Up 0.1 %

NYSE WFC traded up $0.11 on Thursday, hitting $73.29. 19,946,534 shares of the stock were exchanged, compared to its average volume of 17,544,631. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The firm has a market capitalization of $238.49 billion, a P/E ratio of 13.62, a P/E/G ratio of 1.18 and a beta of 1.13. The stock has a fifty day moving average price of $69.07 and a two-hundred day moving average price of $72.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.23 by $0.16. The company had revenue of $20.15 billion for the quarter, compared to the consensus estimate of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm's revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.20 EPS. Research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

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

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 9th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, May 9th. Wells Fargo & Company's dividend payout ratio is currently 28.73%.

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.