HTLF Bank Buys New Shares in Wells Fargo & Company (NYSE:WFC)

HTLF Bank bought a new stake in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 46,272 shares of the financial services provider’s stock, valued at approximately $2,278,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the third quarter worth about $25,000. Arlington Trust Co LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $25,000. Leith Wheeler Investment Counsel Ltd. boosted its position in shares of Wells Fargo & Company by 208.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares during the period. Studio Investment Management LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $28,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Wells Fargo & Company in the first quarter worth about $28,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC stock traded up $1.79 on Friday, reaching $60.53. The company’s stock had a trading volume of 11,988,569 shares, compared to its average volume of 18,667,920. Wells Fargo & Company has a 52 week low of $36.40 and a 52 week high of $60.79. The company has a market capitalization of $214.30 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 1.11 and a beta of 1.19. The firm has a fifty day moving average of $55.63 and a two-hundred day moving average of $48.68. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.23 EPS. As a group, analysts predict that Wells Fargo & Company will post 5.04 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s payout ratio is currently 29.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WFC shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $51.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. HSBC boosted their price target on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Argus boosted their price target on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday. Odeon Capital Group cut Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price target on the stock. in a research note on Thursday, January 18th. Finally, Barclays boosted their price target on Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Thirteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $58.85.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.