Wells Fargo & Company (NYSE:WFC) Shares Sold by Legacy Financial Group LLC

Legacy Financial Group LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 3.9% in the fourth quarter, Holdings Channel reports. The firm owned 13,537 shares of the financial services provider’s stock after selling 551 shares during the period. Legacy Financial Group LLC’s holdings in Wells Fargo & Company were worth $951,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Income Research & Management acquired a new position in Wells Fargo & Company in the 3rd quarter valued at about $211,000. Mattson Financial Services LLC acquired a new position in Wells Fargo & Company in the 2nd quarter valued at about $25,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company in the 4th quarter valued at about $30,000. Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company in the 2nd quarter valued at about $26,000. Finally, Decker Retirement Planning Inc. acquired a new position in Wells Fargo & Company in the 4th quarter valued at about $32,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Morgan Stanley lifted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research note on Tuesday, October 8th. The Goldman Sachs Group lifted their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Keefe, Bruyette & Woods lifted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Finally, Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price objective for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Trading Down 0.3 %

WFC opened at $77.23 on Monday. The firm has a market cap of $257.13 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $47.45 and a 52 week high of $78.30. The business’s 50 day moving average is $73.19 and its two-hundred day moving average is $64.07. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 earnings per share. On average, research analysts predict that Wells Fargo & Company will post 5.84 EPS for the current year.

About Wells Fargo & Company

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.