Wells Fargo & Company MN Buys 509 Shares of Bankrate, Inc. (RATE)

Wells Fargo & Company MN increased its stake in shares of Bankrate, Inc. (NYSE:RATE) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,912 shares of the bank’s stock after acquiring an additional 509 shares during the quarter. Wells Fargo & Company MN’s holdings in Bankrate were worth $410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in Bankrate by 14.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,601,679 shares of the bank’s stock worth $34,757,000 after buying an additional 447,530 shares during the period. Oaktop Capital Management II L.P. purchased a new stake in Bankrate in the 2nd quarter worth approximately $14,501,000. JPMorgan Chase & Co. lifted its holdings in Bankrate by 64.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 564,593 shares of the bank’s stock worth $7,255,000 after buying an additional 220,712 shares during the period. Morgan Stanley lifted its holdings in Bankrate by 10.0% in the 1st quarter. Morgan Stanley now owns 382,529 shares of the bank’s stock worth $3,692,000 after buying an additional 34,843 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Bankrate by 65.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 368,644 shares of the bank’s stock worth $4,737,000 after buying an additional 146,115 shares during the period. Institutional investors and hedge funds own 47.31% of the company’s stock.

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Bankrate, Inc. (RATE) opened at $14.00 on Wednesday. The company has a market capitalization of $1,260.00, a P/E ratio of 28.00 and a beta of 1.64. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.39 and a quick ratio of 2.39. Bankrate, Inc. has a one year low of $8.55 and a one year high of $14.25.

Separately, BidaskClub cut Bankrate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.00.

Bankrate Profile

Bankrate, Inc is a publisher, aggregator and distributor of personal finance content on the Internet. The Company provides consumers personal finance editorial content across multiple vertical categories, including mortgages, deposits, credit cards, senior care and other personal finance categories. The Company’s segments include Banking, Credit Cards, Senior Care and Other.

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Institutional Ownership by Quarter for Bankrate (NYSE:RATE)

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