Wells Fargo & Company (NYSE:WFC) Shares Sold by Elgethun Capital Management

Elgethun Capital Management decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 97.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,297 shares of the financial services provider’s stock after selling 88,263 shares during the period. Elgethun Capital Management’s holdings in Wells Fargo & Company were worth $161,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Rialto Wealth Management LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth $26,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company in the fourth quarter worth about $30,000. McClarren Financial Advisors Inc. acquired a new stake in Wells Fargo & Company in the 4th quarter valued at about $30,000. 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 in the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $32,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 7.2 %

Shares of Wells Fargo & Company stock opened at $60.91 on Monday. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The company’s fifty day simple moving average is $74.93 and its 200-day simple moving average is $70.67. The company has a market cap of $198.89 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 1.18 and a beta of 1.02. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

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

Wells Fargo & Company Announces Dividend

The company 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 was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.63%. Wells Fargo & Company’s payout ratio is 29.74%.

Analyst Upgrades and Downgrades

WFC has been the topic of several recent research reports. Citigroup decreased their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Bank of America decreased their target price on shares of Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Truist Financial cut their price target on shares of Wells Fargo & Company from $86.00 to $84.00 and set a “buy” rating on the stock in a report on Friday. JPMorgan Chase & Co. lowered their price objective on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Keefe, Bruyette & Woods boosted 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 note on Thursday, January 16th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $75.50.

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.