M&R Capital Management Inc. Sells 2,075 Shares of Wells Fargo & Company (NYSE:WFC)


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M&R Capital Management Inc. decreased its position in Wells Fargo & Company (NYSE:WFC) by 22.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,149 shares of the financial services provider’s stock after selling 2,075 shares during the quarter. M&R Capital Management Inc.’s holdings in Wells Fargo & Company were worth $279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Baron Silver Stevens Financial Advisors LLC bought a new stake in Wells Fargo & Company in the 4th quarter worth approximately $26,000. Hoover Financial Advisors Inc. bought a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $30,000. RMR Wealth Builders bought a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $30,000. Key Financial Inc bought a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $31,000. Finally, Flagship Private Wealth LLC bought a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $31,000. Institutional investors own 67.25% of the company’s stock.

WFC has been the topic of several research analyst reports. Oppenheimer reissued a “hold” rating on shares of Wells Fargo & Company in a research note on Tuesday, January 19th. Piper Sandler boosted their target price on Wells Fargo & Company from $25.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, December 21st. UBS Group raised Wells Fargo & Company from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 12th. Raymond James upped their price target on Wells Fargo & Company from $37.00 to $42.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 3rd. Finally, Jefferies Financial Group raised Wells Fargo & Company from a “hold” rating to a “buy” rating and upped their price target for the stock from $26.00 to $38.00 in a research note on Thursday, January 7th. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $35.00.

NYSE WFC opened at $39.93 on Thursday. The stock’s 50-day moving average price is $38.49 and its 200-day moving average price is $30.39. The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 1.34. Wells Fargo & Company has a 52 week low of $20.76 and a 52 week high of $41.54. The company has a market capitalization of $165.08 billion, a P/E ratio of 108.08, a price-to-earnings-growth ratio of 4.84 and a beta of 1.07.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Thursday, January 14th. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.60 by $0.04. Wells Fargo & Company had a return on equity of 3.18% and a net margin of 3.72%. The firm had revenue of $17.93 billion for the quarter, compared to the consensus estimate of $18 billion. During the same quarter last year, the company earned $0.93 earnings per share. The business’s revenue for the quarter was down 9.7% compared to the same quarter last year. Research analysts anticipate that Wells Fargo & Company will post 0.48 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 1st. Investors of record on Friday, February 5th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Thursday, February 4th. Wells Fargo & Company’s dividend payout ratio is currently 9.13%.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. It operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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

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