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

Hengehold Capital Management LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 4,601 shares of the financial services provider’s stock, valued at approximately $260,000.

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

Wells Fargo & Company Trading Up 0.8 %

Shares of Wells Fargo & Company stock opened at $64.38 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The company has a fifty day simple moving average of $56.27 and a 200-day simple moving average of $57.94. The stock has a market cap of $224.45 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.46 and a beta of 1.16. Wells Fargo & Company has a 12-month low of $38.58 and a 12-month high of $64.71.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter in the prior year, the firm posted $1.39 earnings per share. Wells Fargo & Company’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, equities 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 declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were given a dividend of $0.40 per share. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9th. This represents a $1.60 annualized dividend and a yield of 2.49%. Wells Fargo & Company’s payout ratio is 32.85%.

Insider Buying and Selling at Wells Fargo & Company

In other news, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction that occurred on 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 completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction that occurred 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 transaction, 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 disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WFC. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their target price for the company from $60.83 to $65.00 in a report on Tuesday. Evercore ISI lifted their price objective on shares of Wells Fargo & Company from $68.00 to $71.00 and gave the company an “outperform” rating in a report on Monday. Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a report on Monday. Morgan Stanley dropped their price target 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, The Goldman Sachs Group reduced their price objective on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Thirteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and an average target price of $61.82.

Wells Fargo & Company 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.