3,244 Shares in Wells Fargo & Company $WFC Purchased by Heartwood Wealth Advisors LLC

Heartwood Wealth Advisors LLC acquired a new position in Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 3,244 shares of the financial services provider’s stock, valued at approximately $260,000.

Several other institutional investors have also bought and sold shares of WFC. Summit Wealth & Retirement Planning Inc. raised its position in Wells Fargo & Company by 4.3% in the first quarter. Summit Wealth & Retirement Planning Inc. now owns 3,362 shares of the financial services provider’s stock worth $241,000 after acquiring an additional 139 shares in the last quarter. Nwam LLC raised its position in Wells Fargo & Company by 1.6% in the first quarter. Nwam LLC now owns 8,806 shares of the financial services provider’s stock worth $632,000 after acquiring an additional 142 shares in the last quarter. PGIM Custom Harvest LLC raised its position in Wells Fargo & Company by 3.5% in the first quarter. PGIM Custom Harvest LLC now owns 4,225 shares of the financial services provider’s stock worth $303,000 after acquiring an additional 142 shares in the last quarter. Tradition Wealth Management LLC raised its position in Wells Fargo & Company by 0.5% in the first quarter. Tradition Wealth Management LLC now owns 30,420 shares of the financial services provider’s stock worth $2,184,000 after acquiring an additional 143 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. raised its position in Wells Fargo & Company by 0.8% in the first quarter. Retirement Planning Co of New England Inc. now owns 18,434 shares of the financial services provider’s stock worth $1,323,000 after acquiring an additional 144 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

NYSE WFC opened at $81.46 on Monday. The company has a market cap of $260.95 billion, a PE ratio of 13.95, a PEG ratio of 1.27 and a beta of 1.25. Wells Fargo & Company has a 1 year low of $51.75 and a 1 year high of $84.83. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. The stock’s 50-day moving average price is $80.38 and its two-hundred day moving average price is $75.14.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. The company had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 EPS. On average, analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were issued a $0.45 dividend. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio is currently 30.82%.

Analyst Upgrades and Downgrades

WFC has been the topic of several research reports. Raymond James Financial cut shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 7th. Cowen reiterated a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $77.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 4th. Piper Sandler restated an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Finally, Bank of America boosted their price objective on Wells Fargo & Company from $83.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average price target of $82.56.

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.