Hilton Capital Management LLC Has $9.90 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Hilton Capital Management LLC boosted its stake in Wells Fargo & Company (NYSE:WFC) by 3.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,199 shares of the financial services provider’s stock after buying an additional 5,123 shares during the quarter. Hilton Capital Management LLC’s holdings in Wells Fargo & Company were worth $9,897,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Income Research & Management bought a new stake in shares of Wells Fargo & Company in the 3rd quarter worth about $211,000. Mattson Financial Services LLC bought a new stake in shares of Wells Fargo & Company during the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL bought a new position in Wells Fargo & Company in the 2nd quarter worth approximately $26,000. MidAtlantic Capital Management Inc. acquired a new position in Wells Fargo & Company during the 3rd quarter worth $34,000. Finally, Valued Wealth Advisors LLC raised its position in shares of Wells Fargo & Company by 53.7% during the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 220 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Performance

WFC opened at $73.43 on Wednesday. The company has a market capitalization of $244.48 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 1.55 and a beta of 1.14. The business’s 50-day moving average price is $61.95 and its two-hundred day moving average price is $59.49. Wells Fargo & Company has a 1 year low of $42.15 and a 1 year high of $74.70. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The firm 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 business’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.39 EPS. Equities analysts expect that Wells Fargo & Company will post 5.42 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.18%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Piper Sandler lifted their price objective on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Citigroup boosted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday. The Goldman Sachs Group reduced their price objective on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price target for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and reduced their price target for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Thirteen 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $63.07.

Insiders Place Their Bets

In other news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the completion of the transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at $10,421,957. This trade represents a 26.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the sale, the executive vice president now owns 126,687 shares of the company’s stock, valued at $7,853,327.13. This trade represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

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.