Heritage Oak Wealth Advisors LLC Invests $399,000 in Wells Fargo & Company (NYSE:WFC)

Heritage Oak Wealth Advisors LLC purchased a new position in Wells Fargo & Company (NYSE:WFC) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,056 shares of the financial services provider’s stock, valued at approximately $399,000.

Several other institutional investors have also modified their holdings of the company. Bank of Stockton lifted its position in shares of Wells Fargo & Company by 40.3% during the 3rd quarter. Bank of Stockton now owns 61,229 shares of the financial services provider’s stock worth $3,459,000 after buying an additional 17,578 shares during the last quarter. Mediolanum International Funds Ltd boosted its stake in Wells Fargo & Company by 24.7% during the 3rd quarter. Mediolanum International Funds Ltd now owns 369,066 shares of the financial services provider’s stock worth $20,597,000 after purchasing an additional 73,071 shares during the period. Cullinan Associates Inc. grew its position in Wells Fargo & Company by 3.5% during the 3rd quarter. Cullinan Associates Inc. now owns 44,145 shares of the financial services provider’s stock worth $2,494,000 after purchasing an additional 1,500 shares during the last quarter. Ballentine Partners LLC increased its stake in Wells Fargo & Company by 4.4% in the third quarter. Ballentine Partners LLC now owns 39,667 shares of the financial services provider’s stock valued at $2,241,000 after purchasing an additional 1,676 shares during the period. Finally, Financial Partners Group LLC raised its holdings in shares of Wells Fargo & Company by 10.4% in the third quarter. Financial Partners Group LLC now owns 16,011 shares of the financial services provider’s stock valued at $904,000 after buying an additional 1,502 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Ather Williams III sold 60,000 shares of the firm’s 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 transaction, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction dated Wednesday, October 16th. The shares were 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 $10,421,957. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 of the company’s stock, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the subject of several analyst reports. Morgan Stanley reduced their price objective on 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. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target for the company in a report on Tuesday, October 8th. 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 research report on Monday, October 14th. BMO Capital Markets lifted their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Finally, Piper Sandler lifted their price target on Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Thirteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus price target of $61.82.

Wells Fargo & Company Stock Down 0.1 %

Shares of Wells Fargo & Company stock traded down $0.05 on Friday, hitting $65.38. 3,536,325 shares of the company’s stock traded hands, compared to its average volume of 18,029,418. Wells Fargo & Company has a 52-week low of $38.62 and a 52-week high of $65.95. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock has a market cap of $222.54 billion, a P/E ratio of 13.67, a PEG ratio of 1.46 and a beta of 1.16. The firm’s 50-day moving average is $57.41 and its 200 day moving average is $58.20.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. The firm had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.39 EPS. Equities analysts anticipate that Wells Fargo & Company will post 5.36 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.45%. Wells Fargo & Company’s payout ratio is 33.26%.

Wells Fargo & 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.