HF Advisory Group LLC Purchases 1,417 Shares of Wells Fargo & Company (NYSE:WFC)

HF Advisory Group LLC boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 4.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,093 shares of the financial services provider’s stock after purchasing an additional 1,417 shares during the period. Wells Fargo & Company comprises 1.1% of HF Advisory Group LLC’s holdings, making the stock its 29th biggest holding. HF Advisory Group LLC’s holdings in Wells Fargo & Company were worth $1,678,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Arlington Trust Co LLC bought a new position in Wells Fargo & Company during the 4th quarter valued at about $25,000. Tennessee Valley Asset Management Partners bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $29,000. Fortis Group Advisors LLC bought a new position in shares of Wells Fargo & Company during the third quarter valued at approximately $25,000. Studio Investment Management LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $28,000. Finally, Venturi Wealth Management LLC lifted its position in Wells Fargo & Company by 108.0% during the fourth quarter. Venturi Wealth Management LLC now owns 724 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 376 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE WFC traded up $1.01 during trading on Thursday, hitting $58.19. The company had a trading volume of 3,400,509 shares, compared to its average volume of 18,479,596. The stock has a fifty day simple moving average of $55.42 and a two-hundred day simple moving average of $48.61. Wells Fargo & Company has a fifty-two week low of $36.40 and a fifty-two week high of $58.44. The firm has a market capitalization of $206.02 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 1.10 and a beta of 1.19. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. The firm had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the firm posted $1.23 earnings per share. On average, research analysts expect that Wells Fargo & Company will post 5.04 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Analyst Ratings Changes

A number of research analysts have issued reports on WFC shares. Odeon Capital Group cut shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price target for the company. in a report on Thursday, January 18th. Piper Sandler cut their price objective on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $51.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, January 9th. HSBC increased their price objective on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $62.00 price target (up previously from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Thirteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and a consensus target price of $58.85.

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.