Heartwood Wealth Advisors LLC Takes $260,000 Position in Wells Fargo & Company $WFC

Key Points

• Heartwood Wealth Advisors LLC has taken a new position in Wells Fargo & Company, purchasing 3,244 shares valued at approximately $260,000 in the second quarter.
• Wells Fargo recently increased its quarterly dividend to $0.45, up from $0.40, which represents an annual yield of 2.2%.
• Analysts have mixed ratings for Wells Fargo, with ten rating it a Buy and seven rating it a Hold, while the average target price stands at $82.56.

Heartwood Wealth Advisors LLC purchased a new position in Wells Fargo & Company (NYSE:WFC - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,244 shares of the financial services provider's stock, valued at approximately $260,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Accretive Wealth Partners LLC acquired a new position in shares of Wells Fargo & Company in the 1st quarter worth approximately $399,000. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in Wells Fargo & Company by 10.4% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider's stock worth $54,471,000 after purchasing an additional 71,740 shares during the period. Secured Retirement Advisors LLC bought a new stake in Wells Fargo & Company during the first quarter valued at $408,000. RKL Wealth Management LLC increased its stake in Wells Fargo & Company by 166.4% during the first quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider's stock valued at $588,000 after purchasing an additional 5,113 shares during the last quarter. Finally, Allianz SE raised its holdings in shares of Wells Fargo & Company by 22.6% during the first quarter. Allianz SE now owns 212,335 shares of the financial services provider's stock worth $15,244,000 after purchasing an additional 39,150 shares during the period. 75.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WFC. Dbs Bank raised shares of Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Citigroup restated a "neutral" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Raymond James Financial lowered Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a report on Monday, July 7th. Morgan Stanley raised their price target on Wells Fargo & Company from $77.00 to $87.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Finally, The Goldman Sachs Group reduced their price objective on Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $82.56.

Wells Fargo & Company Trading Up 0.3%

Shares of WFC stock opened at $81.46 on Monday. Wells Fargo & Company has a 1 year low of $51.75 and a 1 year high of $84.83. The firm has a market capitalization of $260.95 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 1.27 and a beta of 1.25. The stock has a fifty day moving average of $80.38 and a two-hundred day moving average of $75.14. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $0.13. The company had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The company's quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the company earned $1.33 earnings per share. As a group, research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 8th. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.2%. Wells Fargo & Company's dividend payout ratio is currently 30.82%.

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.

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