Wells Fargo & Company (NYSE:WFC) Shares Acquired by TD Asset Management Inc.

TD Asset Management Inc. raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 16.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,630,649 shares of the financial services provider’s stock after purchasing an additional 232,203 shares during the quarter. TD Asset Management Inc.’s holdings in Wells Fargo & Company were worth $114,537,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Rialto Wealth Management LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth $26,000. Rakuten Securities Inc. raised its holdings in shares of Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 237 shares during the period. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth about $30,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $30,000. Finally, Decker Retirement Planning Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $74.27 on Wednesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The firm’s 50-day simple moving average is $76.09 and its 200-day simple moving average is $69.76. The firm has a market cap of $244.21 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last year, the business posted $0.86 EPS. Wells Fargo & Company’s quarterly revenue was down .5% compared to the same quarter last year. Equities analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.15%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WFC shares. The Goldman Sachs Group lifted their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Piper Sandler raised their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research report on Thursday, March 13th. Finally, Barclays raised their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus price target of $74.18.

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.