Heritage Wealth Management Inc. Acquires 210 Shares of Wells Fargo & Company (NYSE:WFC)

Heritage Wealth Management Inc. raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,955 shares of the financial services provider’s stock after acquiring an additional 210 shares during the quarter. Heritage Wealth Management Inc.’s holdings in Wells Fargo & Company were worth $278,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Truvestments Capital LLC purchased a new position in shares of Wells Fargo & Company during the third quarter valued at about $29,000. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $30,000. McClarren Financial Advisors Inc. purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $30,000. Decker Retirement Planning Inc. purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $32,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Wells Fargo & Company during the third quarter valued at about $34,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Up 2.3 %

Shares of NYSE WFC opened at $78.35 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market cap of $260.87 billion, a P/E ratio of 14.56, a PEG ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The firm has a 50-day simple moving average of $75.87 and a two-hundred day simple moving average of $67.86.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The company’s revenue was down .5% on a year-over-year basis. Research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on WFC shares. Piper Sandler raised their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Citigroup raised their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Truist Financial raised their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. UBS Group lifted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, The Goldman Sachs Group lifted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and an average target price of $73.39.

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.