Wells Fargo & Company (NYSE:WFC) Shares Acquired by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 7.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,227 shares of the financial services provider’s stock after purchasing an additional 1,049 shares during the period. Legacy Financial Advisors Inc.’s holdings in Wells Fargo & Company were worth $904,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of WFC. 9258 Wealth Management LLC grew its position in shares of Wells Fargo & Company by 4.1% during the fourth quarter. 9258 Wealth Management LLC now owns 12,972 shares of the financial services provider’s stock worth $638,000 after buying an additional 516 shares in the last quarter. Gryphon Financial Partners LLC increased its position in shares of Wells Fargo & Company by 93.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 26,467 shares of the financial services provider’s stock worth $1,246,000 after purchasing an additional 12,778 shares during the last quarter. CreativeOne Wealth LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $232,000. SageView Advisory Group LLC increased its holdings in Wells Fargo & Company by 169.1% in the fourth quarter. SageView Advisory Group LLC now owns 18,164 shares of the financial services provider’s stock valued at $930,000 after buying an additional 11,414 shares during the last quarter. Finally, TCW Group Inc. increased its holdings in Wells Fargo & Company by 22.2% in the fourth quarter. TCW Group Inc. now owns 444,813 shares of the financial services provider’s stock valued at $21,909,000 after buying an additional 80,713 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

WFC has been the topic of several research analyst reports. Jefferies Financial Group cut Wells Fargo & Company to a “hold” rating and reduced their price objective for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Evercore ISI lowered their price objective on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Tuesday, September 3rd. Morgan Stanley raised their target price on Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, BMO Capital Markets boosted their price target on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Twelve 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.29.

Wells Fargo & Company Trading Up 0.8 %

Wells Fargo & Company stock opened at $56.26 on Friday. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The company’s fifty day moving average price is $56.19 and its two-hundred day moving average price is $57.88. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market capitalization of $196.14 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.27 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. The business had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. Wells Fargo & Company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 EPS. On average, analysts forecast that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were paid a $0.40 dividend. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.84%. Wells Fargo & Company’s dividend payout ratio is currently 32.85%.

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.