Marathon Asset Management Ltd Trims Position in Wells Fargo & Company (NYSE:WFC)

Marathon Asset Management Ltd reduced its position in Wells Fargo & Company (NYSE:WFC) by 6.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 167,251 shares of the financial services provider’s stock after selling 10,987 shares during the quarter. Marathon Asset Management Ltd’s holdings in Wells Fargo & Company were worth $11,748,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth $30,000. McClarren Financial Advisors Inc. purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth $30,000. Decker Retirement Planning Inc. purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth $35,000. Finally, BankPlus Trust Department purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth $35,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WFC. Citigroup increased their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Morgan Stanley increased their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. The Goldman Sachs Group increased their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Compass Point increased their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Truist Financial raised their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Trading Up 2.3 %

Shares of NYSE:WFC opened at $78.35 on Monday. The firm has a fifty day moving average of $75.87 and a two-hundred day moving average of $67.96. The firm has a market capitalization of $257.63 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data 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. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 EPS. On average, equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.04%. Wells Fargo & Company’s payout ratio is currently 29.74%.

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.