Marathon Asset Management Ltd Has $10.85 Million Position in Wells Fargo & Company (NYSE:WFC)

Marathon Asset Management Ltd lowered its position in Wells Fargo & Company (NYSE:WFC) by 9.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 151,131 shares of the financial services provider's stock after selling 16,120 shares during the quarter. Marathon Asset Management Ltd's holdings in Wells Fargo & Company were worth $10,850,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Modera Wealth Management LLC lifted its stake in Wells Fargo & Company by 14.1% in the fourth quarter. Modera Wealth Management LLC now owns 20,562 shares of the financial services provider's stock valued at $1,444,000 after acquiring an additional 2,548 shares during the last quarter. Cornerstone Advisors LLC lifted its stake in Wells Fargo & Company by 2.1% in the fourth quarter. Cornerstone Advisors LLC now owns 204,200 shares of the financial services provider's stock valued at $14,343,000 after acquiring an additional 4,200 shares during the last quarter. Metis Global Partners LLC raised its position in shares of Wells Fargo & Company by 4.0% in the fourth quarter. Metis Global Partners LLC now owns 172,335 shares of the financial services provider's stock valued at $12,105,000 after purchasing an additional 6,668 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Wells Fargo & Company by 12.1% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 651,808 shares of the financial services provider's stock valued at $45,783,000 after purchasing an additional 70,104 shares during the period. Finally, Marble Harbor Investment Counsel LLC raised its position in shares of Wells Fargo & Company by 4.2% in the fourth quarter. Marble Harbor Investment Counsel LLC now owns 130,504 shares of the financial services provider's stock valued at $9,167,000 after purchasing an additional 5,215 shares during the period. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

WFC stock opened at $79.42 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The firm has a market cap of $258.44 billion, a P/E ratio of 14.26, a P/E/G ratio of 1.34 and a beta of 1.16. The company's 50-day moving average price is $73.88 and its two-hundred day moving average price is $73.06.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a net margin of 16.19% and a return on equity of 12.15%. The firm had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. During the same period last year, the firm earned $1.20 EPS. The business's quarterly revenue was down 3.4% compared to the same quarter last year. On average, analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company declared that its board has approved a stock repurchase plan on Tuesday, April 29th that permits the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 17.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 9th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.01%. The ex-dividend date was Friday, May 9th. Wells Fargo & Company's dividend payout ratio is currently 28.73%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WFC shares. Evercore ISI increased their price objective on shares of Wells Fargo & Company from $72.00 to $88.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. TD Cowen started coverage on shares of Wells Fargo & Company in a research report on Thursday, May 15th. They issued a "hold" rating and a $83.00 price objective on the stock. Truist Financial dropped their price objective on shares of Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Bank of America increased their price objective on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Wells Fargo & Company in a research report on Wednesday, June 18th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of "Moderate Buy" and an average target price of $77.98.

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.

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