Heritage Trust Co Invests $1.04 Million in Wells Fargo & Company (NYSE:WFC)

Heritage Trust Co purchased a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 14,756 shares of the financial services provider's stock, valued at approximately $1,036,000.

Several other hedge funds also recently modified their holdings of the company. Rialto Wealth Management LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $26,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company during the 4th quarter valued at $30,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $30,000. Rakuten Securities Inc. boosted its stake in shares of Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock worth $30,000 after buying an additional 237 shares during the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in Wells Fargo & Company in the 4th quarter worth about $32,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price objective on the stock in a research note on Thursday, March 13th. Barclays reduced their target price on shares of Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a report on Monday. Citigroup dropped their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Piper Sandler decreased their price objective on Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating for the company in a research note on Monday. Finally, Morgan Stanley increased their price target on Wells Fargo & Company from $79.00 to $80.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of "Moderate Buy" and a consensus target price of $75.34.

Wells Fargo & Company Stock Up 0.1 %

Shares of WFC stock traded up $0.07 during trading hours on Wednesday, reaching $64.61. The company had a trading volume of 5,702,911 shares, compared to its average volume of 17,607,500. The company has a market capitalization of $210.96 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The stock's fifty day simple moving average is $72.15 and its 200 day simple moving average is $70.97. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.15 billion during the quarter, compared to analyst estimates of $20.82 billion. During the same period in the prior year, the firm earned $1.20 earnings per share. The business's quarterly revenue was down 3.4% on a year-over-year basis. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's payout ratio is 28.73%.

Wells Fargo & Company 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.