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

Hennion & Walsh Asset Management Inc. grew its holdings in Wells Fargo & Company (NYSE:WFC) by 34.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,183 shares of the financial services provider’s stock after acquiring an additional 3,905 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Wells Fargo & Company were worth $1,066,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of WFC. Mattson Financial Services LLC acquired a new position in Wells Fargo & Company in the 2nd quarter worth $25,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Wells Fargo & Company during the second quarter worth about $26,000. Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company during the third quarter worth about $29,000. Modus Advisors LLC acquired a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $30,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Wells Fargo & Company in the 3rd quarter valued at approximately $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of research reports. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research report on Tuesday, October 8th. Compass Point increased their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Truist Financial upped their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday. 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 report on Thursday. Finally, Piper Sandler boosted their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Stock Up 1.7 %

WFC stock opened at $77.22 on Monday. Wells Fargo & Company has a fifty-two week low of $46.12 and a fifty-two week high of $78.13. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $257.11 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.18. The business’s fifty day moving average price is $72.74 and its two-hundred day moving average price is $63.46.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities 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 announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s payout ratio is presently 29.74%.

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.