HTLF Bank Has $2.48 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

HTLF Bank reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,878 shares of the financial services provider’s stock after selling 1,484 shares during the quarter. HTLF Bank’s holdings in Wells Fargo & Company were worth $2,479,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Mattson Financial Services LLC acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL bought a new position in Wells Fargo & Company during the second quarter worth about $26,000. Valued Wealth Advisors LLC boosted its holdings in Wells Fargo & Company by 53.7% during the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 220 shares in the last quarter. J.Safra Asset Management Corp grew its stake in shares of Wells Fargo & Company by 704.3% in the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 648 shares during the period. Finally, Fairscale Capital LLC acquired a new position in shares of Wells Fargo & Company in the 2nd quarter worth approximately $47,000. 75.90% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the transaction, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WFC shares. The Goldman Sachs Group lowered their price target on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their target price for the company from $60.83 to $65.00 in a research note on Tuesday. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday. Piper Sandler lifted their price objective on Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday, September 3rd. Thirteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and an average price target of $61.82.

Wells Fargo & Company Trading Up 1.4 %

WFC traded up $0.88 during mid-day trading on Tuesday, hitting $63.04. The stock had a trading volume of 24,687,186 shares, compared to its average volume of 18,081,809. The stock’s fifty day simple moving average is $55.59 and its 200-day simple moving average is $57.82. The firm has a market capitalization of $219.78 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. Wells Fargo & Company has a 1-year low of $38.58 and a 1-year high of $63.82. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.28 by $0.14. The business had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.39 EPS. As a group, research analysts forecast that Wells Fargo & Company will post 5.12 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend was Friday, August 9th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio is 32.85%.

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.