Eldred Rock Partners LLC Buys 478 Shares of Wells Fargo & Company (NYSE:WFC)

Eldred Rock Partners LLC raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 0.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 151,919 shares of the financial services provider’s stock after acquiring an additional 478 shares during the quarter. Wells Fargo & Company comprises 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 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of WFC. Income Research & Management purchased a new stake in Wells Fargo & Company in the 3rd quarter worth about $211,000. Mattson Financial Services LLC purchased a new position in shares of Wells Fargo & Company in the second quarter worth about $25,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at approximately $26,000. Finally, Decker Retirement Planning Inc. bought a new position in Wells Fargo & Company in the 4th quarter worth approximately $32,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Up 1.7 %

Shares of NYSE WFC opened at $77.22 on Monday. The stock has a market capitalization of $257.11 billion, a P/E ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a one year low of $46.12 and a one year high of $78.13. The firm’s 50 day simple moving average is $72.74 and its two-hundred day simple moving average is $63.46. 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 (NYSE:WFC) last issued 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 net margin of 14.43% and a return on equity of 12.25%. The company had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter last year, the company earned $0.86 EPS. The firm’s revenue was down .5% compared to the same quarter last year. As a group, analysts expect that Wells Fargo & Company will post 5.45 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.07%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

Analyst Ratings Changes

WFC has been the topic of several recent research reports. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Compass Point raised their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Barclays upped their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday. Evercore ISI raised their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley upped their target price 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 equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $73.39.

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.