Enterprise Financial Services Corp Purchases New Position in Wells Fargo & Company $WFC

Enterprise Financial Services Corp purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) during the second quarter, Holdings Channel reports. The firm purchased 2,845 shares of the financial services provider’s stock, valued at approximately $228,000.

Other institutional investors also recently bought and sold shares of the company. Access Investment Management LLC purchased a new position in shares of Wells Fargo & Company during the 2nd quarter valued at approximately $25,000. McElhenny Sheffield Capital Management LLC purchased a new stake in Wells Fargo & Company in the 2nd quarter worth $27,000. CBIZ Investment Advisory Services LLC raised its position in Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $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. Finally, Motco lifted its holdings in Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 326 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $83.14 on Friday. Wells Fargo & Company has a one year low of $58.42 and a one year high of $88.64. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market cap of $260.98 billion, a PE ratio of 13.67, a P/E/G ratio of 1.18 and a beta of 1.22. The stock has a 50 day moving average price of $84.00 and a 200 day moving average price of $80.29.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.18. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. During the same quarter in the previous year, the company posted $1.42 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.61%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WFC. Dbs Bank upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Tuesday, October 21st. Keefe, Bruyette & Woods increased their target price on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, October 15th. UBS Group decreased their target price on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Weiss Ratings upgraded Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday, October 8th. Finally, TD Cowen increased their price objective on Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.57.

Wells Fargo & Company 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.