First Heartland Consultants Inc. Invests $309,000 in Wells Fargo & Company (NYSE:WFC)

First Heartland Consultants Inc. purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,477 shares of the financial services provider’s stock, valued at approximately $309,000.

A number of other hedge funds have also recently modified their holdings of WFC. Koshinski Asset Management Inc. purchased a new position in shares of Wells Fargo & Company in the 1st quarter worth about $577,000. TBH Global Asset Management LLC raised its holdings in Wells Fargo & Company by 19.1% in the first quarter. TBH Global Asset Management LLC now owns 6,382 shares of the financial services provider’s stock worth $370,000 after buying an additional 1,022 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in shares of Wells Fargo & Company by 25.9% in the first quarter. Kingsview Wealth Management LLC now owns 80,161 shares of the financial services provider’s stock worth $4,646,000 after buying an additional 16,492 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of Wells Fargo & Company by 4.2% during the first quarter. Orion Portfolio Solutions LLC now owns 134,127 shares of the financial services provider’s stock valued at $7,774,000 after buying an additional 5,388 shares during the last quarter. Finally, Leo Wealth LLC increased its position in shares of Wells Fargo & Company by 5.3% during the first quarter. Leo Wealth LLC now owns 4,747 shares of the financial services provider’s stock valued at $275,000 after acquiring an additional 241 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Insider Transactions at Wells Fargo & Company

In other news, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $7,853,327.13. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction 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 sale, the executive vice president now owns 163,610 shares in the company, valued at approximately $10,421,957. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the 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 sale, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. The trade was 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

WFC has been the subject of a number of research analyst reports. Piper Sandler lifted their target price on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Morgan Stanley reduced their target price on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a report on Tuesday, October 8th. The Goldman Sachs Group reduced their target price 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. Finally, Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and reduced their target price for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Thirteen investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $62.12.

Wells Fargo & Company Trading Up 0.3 %

Shares of NYSE:WFC opened at $72.79 on Thursday. Wells Fargo & Company has a 12-month low of $41.46 and a 12-month high of $74.27. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The company has a market cap of $242.35 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 1.51 and a beta of 1.14. The stock has a 50 day moving average of $60.15 and a 200 day moving average of $59.01.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.14. The business had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.39 EPS. As a group, equities research analysts expect that Wells Fargo & Company will post 5.42 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.20%. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

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.