Todd Asset Management LLC Purchases 67,148 Shares of Wells Fargo & Company (NYSE:WFC)

Todd Asset Management LLC increased its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 19.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 417,315 shares of the financial services provider's stock after buying an additional 67,148 shares during the quarter. Todd Asset Management LLC's holdings in Wells Fargo & Company were worth $29,312,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Truvestments Capital LLC purchased a new position in Wells Fargo & Company in the third quarter valued at about $29,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company during the fourth quarter valued at about $30,000. McClarren Financial Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $30,000. Decker Retirement Planning Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $32,000. Finally, MidAtlantic Capital Management Inc. bought a new position in Wells Fargo & Company during the third quarter worth $34,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

Shares of WFC traded up $0.39 during mid-day trading on Wednesday, hitting $76.39. 13,360,682 shares of the company traded hands, compared to its average volume of 15,064,693. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $254.34 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.18 and a beta of 1.18. The business has a 50-day moving average of $75.40 and a 200 day moving average of $67.44. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The firm's revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.09%. Wells Fargo & Company's dividend payout ratio (DPR) is currently 29.74%.

Analyst Upgrades and Downgrades

WFC has been the topic of several research reports. Morgan Stanley boosted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods lifted their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a research report on Thursday, January 16th. Piper Sandler raised their price target 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. UBS Group increased their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Finally, Barclays boosted their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $73.39.

Wells Fargo & 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.