HTLF Bank Makes New Investment in Wells Fargo & Company (NYSE:WFC)

HTLF Bank purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, Holdings Channel reports. The firm purchased 46,272 shares of the financial services provider’s stock, valued at approximately $2,278,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mokosak Advisory Group LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $212,000. Xponance Inc. grew its holdings in shares of Wells Fargo & Company by 6.0% in the 4th quarter. Xponance Inc. now owns 547,922 shares of the financial services provider’s stock valued at $26,969,000 after buying an additional 30,874 shares during the period. Integral Investment Advisors Inc. acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $219,000. Federated Hermes Inc. grew its holdings in shares of Wells Fargo & Company by 0.9% in the 4th quarter. Federated Hermes Inc. now owns 916,382 shares of the financial services provider’s stock valued at $45,104,000 after buying an additional 7,729 shares during the period. Finally, HF Advisory Group LLC grew its holdings in shares of Wells Fargo & Company by 4.3% in the 4th quarter. HF Advisory Group LLC now owns 34,093 shares of the financial services provider’s stock valued at $1,678,000 after buying an additional 1,417 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $62.00 price target (up previously from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $51.00 price objective on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Compass Point reaffirmed a “neutral” rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Raymond James boosted their price objective on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 16th. Finally, HSBC boosted their price objective on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Thirteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded up $1.79 during trading hours on Friday, hitting $60.53. The company had a trading volume of 11,988,569 shares, compared to its average volume of 18,667,920. The firm has a market cap of $214.30 billion, a PE ratio of 12.38, a PEG ratio of 1.11 and a beta of 1.19. 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 has a one year low of $36.40 and a one year high of $60.79. The firm has a 50-day moving average of $55.63 and a 200 day moving average of $48.68.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.10. The firm had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.23 EPS. On average, sell-side analysts expect that Wells Fargo & Company will post 5.04 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

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

Wells Fargo & 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.