Legacy Financial Advisors Inc. Sells 408 Shares of Wells Fargo & Company (NYSE:WFC)

Legacy Financial Advisors Inc. trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,310 shares of the financial services provider’s stock after selling 408 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Wells Fargo & Company were worth $557,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Fortis Group Advisors LLC bought a new stake in shares of Wells Fargo & Company during the third quarter worth $25,000. Arlington Trust Co LLC bought a new position in Wells Fargo & Company in the 4th quarter worth about $25,000. Leith Wheeler Investment Counsel Ltd. increased its position in shares of Wells Fargo & Company by 208.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 356,620 shares during the period. Tennessee Valley Asset Management Partners bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $32,000. 75.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

WFC has been the topic of several research reports. Compass Point restated a “neutral” rating and set a $64.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Raymond James upped their price objective on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 16th. Odeon Capital Group downgraded shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 target price on the stock. in a research report on Thursday, January 18th. StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Finally, Argus increased their price target on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Fourteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $58.99.

Wells Fargo & Company Price Performance

NYSE WFC traded up $0.11 on Friday, hitting $59.94. The company had a trading volume of 17,298,461 shares, compared to its average volume of 19,706,676. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The company’s fifty day moving average price is $57.63 and its 200-day moving average price is $50.23. The company has a market capitalization of $212.21 billion, a PE ratio of 12.51, a PEG ratio of 1.16 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $36.40 and a 12-month high of $61.76.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the previous year, the firm posted $1.23 EPS. Wells Fargo & Company’s revenue was up .6% compared to the same quarter last year. As a group, analysts predict that Wells Fargo & Company will post 5.08 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be issued a $0.35 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.34%. Wells Fargo & Company’s payout ratio is currently 29.23%.

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.