Eldred Rock Partners LLC Has $10.68 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Eldred Rock Partners LLC lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 151,919 shares of the financial services provider’s stock after purchasing an additional 478 shares during the period. Wells Fargo & Company accounts for 3.6% of Eldred Rock Partners LLC’s holdings, making the stock its 12th biggest holding. Eldred Rock Partners LLC’s holdings in Wells Fargo & Company were worth $10,681,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of WFC. City Holding Co. grew its position in shares of Wells Fargo & Company by 25.9% in the 4th quarter. City Holding Co. now owns 1,460 shares of the financial services provider’s stock valued at $103,000 after buying an additional 300 shares during the last quarter. Annex Advisory Services LLC boosted its holdings in Wells Fargo & Company by 10.0% in the fourth quarter. Annex Advisory Services LLC now owns 5,001 shares of the financial services provider’s stock valued at $351,000 after acquiring an additional 455 shares during the last quarter. Brady Martz Wealth Solutions LLC bought a new position in Wells Fargo & Company during the 4th quarter worth approximately $336,000. Artemis Investment Management LLP lifted its position in shares of Wells Fargo & Company by 410.8% in the 4th quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock worth $96,567,000 after purchasing an additional 1,105,679 shares during the period. Finally, Steigerwald Gordon & Koch Inc. boosted its stake in shares of Wells Fargo & Company by 1.2% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 341,746 shares of the financial services provider’s stock valued at $24,004,000 after purchasing an additional 3,913 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WFC has been the subject of a number of analyst reports. Piper Sandler lifted their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Citigroup upped their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Compass Point increased their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Barclays boosted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Morgan Stanley raised their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $77.22 on Monday. The company has a fifty day moving average price of $72.74 and a 200-day moving average price of $63.46. The firm has a market cap 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 company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. Wells Fargo & Company has a 1 year low of $46.12 and a 1 year high of $78.13.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $20.58 billion. During the same quarter last year, the business posted $0.86 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. As a group, equities research analysts predict that Wells Fargo & Company will post 5.45 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

Wells Fargo & Company 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.