Heritage Wealth Management LLC Buys Shares of 12,793 Wells Fargo & Company (NYSE:WFC)

Heritage Wealth Management LLC bought a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 12,793 shares of the financial services provider’s stock, valued at approximately $630,000.

A number of other hedge funds have also made changes to their positions in the stock. Northern Trust Corp grew its holdings in Wells Fargo & Company by 0.3% during the 3rd quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock worth $1,560,755,000 after acquiring an additional 129,300 shares in the last quarter. Pzena Investment Management LLC grew its stake in Wells Fargo & Company by 1.9% in the third quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider’s stock worth $746,484,000 after purchasing an additional 335,560 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in Wells Fargo & Company by 2.9% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 7,749,883 shares of the financial services provider’s stock valued at $316,660,000 after buying an additional 221,459 shares during the last quarter. Van ECK Associates Corp raised its stake in Wells Fargo & Company by 3.9% during the fourth quarter. Van ECK Associates Corp now owns 7,379,417 shares of the financial services provider’s stock valued at $363,215,000 after buying an additional 276,297 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Wells Fargo & Company by 42.7% during the 4th quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock worth $285,668,000 after buying an additional 1,729,132 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC traded up $0.19 on Thursday, reaching $59.71. The company had a trading volume of 3,592,758 shares, compared to its average volume of 18,831,053. The company has a market capitalization of $211.40 billion, a P/E ratio of 12.42, a PEG ratio of 1.15 and a beta of 1.18. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The company has a fifty day moving average of $57.38 and a 200-day moving average of $50.03. Wells Fargo & Company has a one year low of $36.40 and a one year high of $61.76.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same period in the prior year, the business posted $1.23 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.06 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is presently 29.23%.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of research analyst reports. Raymond James boosted their price target on Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 16th. Jefferies Financial Group increased their target price on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a report on Monday, April 8th. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Piper Sandler dropped their price objective on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 16th. Finally, JPMorgan Chase & Co. lifted their target price on Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research note on Wednesday. Fourteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and a consensus price target of $58.99.

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.