CHICAGO TRUST Co NA Increases Stock Position in Wells Fargo & Company $WFC

Key Points

• CHICAGO TRUST Co NA has increased its holdings in Wells Fargo & Company by 30.5%, owning 15,955 shares valued at approximately $1.28 million after acquiring an additional 3,730 shares in the 2nd quarter.
• The company recently announced an increase in its quarterly dividend from $0.40 to $0.45 per share, resulting in an annualized dividend of $1.80 and a yield of 2.1%.
• Analysts have a consensus rating of "Moderate Buy" on Wells Fargo, with ten analysts recommending a buy and seven a hold, while the average target price is set at $82.56.

CHICAGO TRUST Co NA raised its position in Wells Fargo & Company (NYSE:WFC) by 30.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,955 shares of the financial services provider's stock after buying an additional 3,730 shares during the quarter. CHICAGO TRUST Co NA's holdings in Wells Fargo & Company were worth $1,278,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC boosted its holdings in Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 322 shares during the period. Accent Capital Management LLC purchased a new position in Wells Fargo & Company during the first quarter valued at $29,000. Motco increased its holdings in shares of Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider's stock worth $29,000 after purchasing an additional 326 shares in the last quarter. Nova Wealth Management Inc. raised its stake in shares of Wells Fargo & Company by 112.9% in the second quarter. Nova Wealth Management Inc. now owns 428 shares of the financial services provider's stock worth $34,000 after purchasing an additional 227 shares during the last quarter. Finally, 1248 Management LLC purchased a new position in shares of Wells Fargo & Company in the first quarter worth $31,000. 75.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WFC. Cowen reaffirmed a "hold" rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Wall Street Zen upgraded Wells Fargo & Company from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. The Goldman Sachs Group dropped their price target on Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Evercore ISI reiterated an "outperform" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Finally, Phillip Securities downgraded Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, July 17th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $82.56.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $85.17 on Tuesday. Wells Fargo & Company has a 52 week low of $53.31 and a 52 week high of $85.28. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $272.85 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 1.31 and a beta of 1.25. The stock's 50-day moving average price is $80.47 and its 200-day moving average price is $75.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The company had revenue of $20.82 billion for the quarter, compared to analysts' expectations of $20.83 billion. During the same period in the previous year, the firm posted $1.33 EPS. Wells Fargo & Company's revenue was up .6% compared to the same quarter last year. As a group, equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a dividend of $0.45 per share. The ex-dividend date was Friday, August 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.40. Wells Fargo & Company's payout ratio is presently 30.82%.

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.

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.