Wells Fargo & Company $WFC Shares Sold by Heartland Bank & Trust Co

Heartland Bank & Trust Co lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,735 shares of the financial services provider’s stock after selling 149 shares during the period. Heartland Bank & Trust Co’s holdings in Wells Fargo & Company were worth $540,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC grew its stake in shares of 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 purchasing an additional 322 shares in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Wells Fargo & Company during the second quarter worth $27,000. Motco grew its stake in shares of Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 326 shares in the last quarter. Accent Capital Management LLC acquired a new position in shares of Wells Fargo & Company during the first quarter worth $29,000. Finally, 1248 Management LLC purchased a new stake in Wells Fargo & Company in the first quarter valued at $31,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $78.92 on Tuesday. The company has a 50-day simple moving average of $80.66 and a 200-day simple moving average of $76.61. Wells Fargo & Company has a one year low of $58.42 and a one year high of $86.65. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a market capitalization of $252.80 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 1.25 and a beta of 1.25.

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

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 30.82%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Evercore ISI boosted their price target on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Phillip Securities cut shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Truist Financial boosted their price target on shares of Wells Fargo & Company from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, The Goldman Sachs Group reduced their price target on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $85.41.

Wells Fargo & 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.