Beacon Capital Management LLC Sells 464 Shares of Wells Fargo & Company (NYSE:WFC)

Beacon Capital Management LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFCFree Report) by 29.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,113 shares of the financial services provider’s stock after selling 464 shares during the period. Beacon Capital Management LLC’s holdings in Wells Fargo & Company were worth $55,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Defender Capital LLC. acquired a new position in Wells Fargo & Company during the first quarter valued at approximately $246,000. Fairfield Bush & CO. acquired a new position in Wells Fargo & Company during the first quarter valued at approximately $124,000. Dakota Wealth Management acquired a new position in Wells Fargo & Company during the first quarter valued at approximately $222,000. Candriam Luxembourg S.C.A. grew its holdings in Wells Fargo & Company by 0.3% during the first quarter. Candriam Luxembourg S.C.A. now owns 273,936 shares of the financial services provider’s stock valued at $13,274,000 after purchasing an additional 770 shares during the period. Finally, Zions Bancorporation N.A. boosted its holdings in shares of Wells Fargo & Company by 24.5% in the first quarter. Zions Bancorporation N.A. now owns 9,630 shares of the financial services provider’s stock valued at $467,000 after buying an additional 1,895 shares during the period. 72.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WFC. Raymond James upped their price target on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 16th. The Goldman Sachs Group upped their price target on shares of Wells Fargo & Company from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, December 1st. Robert W. Baird restated a “neutral” rating and set a $55.00 target price on shares of Wells Fargo & Company in a report on Monday, January 8th. Barclays increased their target price on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Finally, Odeon Capital Group cut shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 target price for the company. in a report on Thursday, January 18th. Ten research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $51.43.

Check Out Our Latest Stock Analysis on Wells Fargo & Company

Wells Fargo & Company Price Performance

NYSE:WFC opened at $57.51 on Friday. Wells Fargo & Company has a 52 week low of $35.25 and a 52 week high of $58.44. The firm has a market cap of $205.74 billion, a price-to-earnings ratio of 11.93, a P/E/G ratio of 1.20 and a beta of 1.19. The firm’s 50-day simple moving average is $51.55 and its 200 day simple moving average is $46.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.88 and a current ratio of 0.88.

Wells Fargo & Company (NYSE:WFCGet Free Report) last released its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The business had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.30 billion. During the same period in the prior year, the business posted $0.67 earnings per share. Wells Fargo & Company’s revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts predict that Wells Fargo & Company will post 4.72 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a yield of 2.43%. Wells Fargo & Company’s payout ratio is 29.05%.

Wells Fargo & Company Profile

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.