Hengehold Capital Management LLC Invests $260,000 in Wells Fargo & Company (NYSE:WFC)

Hengehold Capital Management LLC acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,601 shares of the financial services provider’s stock, valued at approximately $260,000.

Several other institutional investors also recently bought and sold shares of WFC. Massmutual Trust Co. FSB ADV lifted its position in shares of Wells Fargo & Company by 1.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 21,756 shares of the financial services provider’s stock valued at $1,261,000 after buying an additional 266 shares during the last quarter. Banque Cantonale Vaudoise lifted its position in Wells Fargo & Company by 7.9% during the first quarter. Banque Cantonale Vaudoise now owns 40,406 shares of the financial services provider’s stock valued at $2,342,000 after acquiring an additional 2,955 shares during the last quarter. SOA Wealth Advisors LLC. boosted its stake in Wells Fargo & Company by 79.6% in the first quarter. SOA Wealth Advisors LLC. now owns 2,978 shares of the financial services provider’s stock valued at $173,000 after acquiring an additional 1,320 shares in the last quarter. Park Avenue Securities LLC grew its holdings in Wells Fargo & Company by 14.2% in the first quarter. Park Avenue Securities LLC now owns 71,737 shares of the financial services provider’s stock worth $4,158,000 after purchasing an additional 8,899 shares during the last quarter. Finally, Aprio Wealth Management LLC grew its holdings in Wells Fargo & Company by 13.9% in the first quarter. Aprio Wealth Management LLC now owns 5,710 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 696 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Up 0.8 %

WFC stock opened at $64.38 on Friday. Wells Fargo & Company has a one year low of $38.58 and a one year high of $64.71. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The firm’s fifty day moving average is $56.27 and its 200 day moving average is $57.94. The firm has a market cap of $224.45 billion, a PE ratio of 13.22, a P/E/G ratio of 1.46 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. The firm had revenue of $20.37 billion for the quarter, compared to analysts’ expectations of $20.40 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $1.39 EPS. On average, research analysts forecast that Wells Fargo & Company will post 5.12 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.49%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio is presently 32.85%.

Insider Activity

In related news, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $61.99, for a total value of $2,169,650.00. Following the completion of the sale, the executive vice president now owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $61.99, for a total value of $2,169,650.00. Following the sale, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at $10,421,957. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Evercore ISI raised their price objective on Wells Fargo & Company from $68.00 to $71.00 and gave the stock an “outperform” rating in a research report on Monday. The Goldman Sachs Group lowered their price target on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Piper Sandler upped their price objective on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Monday. Morgan Stanley lowered their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research note on Monday, July 15th. Thirteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $61.82.

About Wells Fargo & Company

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.