Eubel Brady & Suttman Asset Management Inc. Cuts Stock Position in Wells Fargo & Company (NYSE:WFC)

Eubel Brady & Suttman Asset Management Inc. cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 31.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 240,004 shares of the financial services provider’s stock after selling 110,723 shares during the quarter. Wells Fargo & Company makes up 2.2% of Eubel Brady & Suttman Asset Management Inc.’s investment portfolio, making the stock its 20th largest holding. Eubel Brady & Suttman Asset Management Inc.’s holdings in Wells Fargo & Company were worth $16,858,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Truvestments Capital LLC purchased a new stake in Wells Fargo & Company during the third quarter worth about $29,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $30,000. McClarren Financial Advisors Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $30,000. Decker Retirement Planning Inc. purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $32,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Wells Fargo & Company in the 3rd quarter worth approximately $34,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Down 1.5 %

WFC stock opened at $77.43 on Friday. The company’s 50 day moving average is $75.20 and its 200 day moving average is $66.90. The stock has a market cap of $257.81 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 1.20 and a beta of 1.18. 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 has a 1-year low of $50.15 and a 1-year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly 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. The firm had revenue of $20.38 billion for 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%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 EPS. Sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. Wells Fargo & Company’s payout ratio is 29.74%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WFC. The Goldman Sachs Group increased their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Morgan Stanley increased their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. UBS Group boosted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Compass Point increased their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Truist Financial upped their price target on shares of 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $73.39.

About Wells Fargo & Company

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.