Hennion & Walsh Asset Management Inc. Buys 3,905 Shares of Wells Fargo & Company (NYSE:WFC)

Hennion & Walsh Asset Management Inc. raised its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 34.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,183 shares of the financial services provider's stock after purchasing an additional 3,905 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Wells Fargo & Company were worth $1,066,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in WFC. National Pension Service increased its stake in shares of Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider's stock valued at $383,532,000 after buying an additional 897,195 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in shares of Wells Fargo & Company by 2.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider's stock valued at $375,183,000 after purchasing an additional 162,066 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Wells Fargo & Company by 10.1% during the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider's stock worth $441,983,000 after buying an additional 575,892 shares during the period. Two Sigma Advisers LP lifted its holdings in Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider's stock valued at $336,375,000 after buying an additional 5,237,500 shares during the period. Finally, Canoe Financial LP bought a new position in Wells Fargo & Company in the third quarter valued at approximately $160,529,000. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Performance

Shares of WFC stock traded up $1.27 during midday trading on Monday, hitting $77.22. 20,609,919 shares of the company were exchanged, compared to its average volume of 12,688,081. The firm's 50 day moving average price is $72.74 and its two-hundred day moving average price is $63.48. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $257.11 billion, a P/E ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $46.12 and a 52 week high of $78.13.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analysts' expectations of $20.58 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business's revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 EPS. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.45 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.07%. Wells Fargo & Company's dividend payout ratio is 33.26%.

Wall Street Analyst Weigh In

WFC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a research note on Thursday. Citigroup increased their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a "neutral" rating in a research note on Tuesday, November 19th. Phillip Securities upgraded Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and boosted their target price for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Piper Sandler lifted their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. Finally, The Goldman Sachs Group boosted their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a report on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company currently 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.