Legacy Private Trust Co. Increases Holdings in Wells Fargo & Company (NYSE:WFC)

Legacy Private Trust Co. increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 3.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,695 shares of the financial services provider’s stock after buying an additional 190 shares during the quarter. Legacy Private Trust Co.’s holdings in Wells Fargo & Company were worth $322,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WFC. Connectus Wealth LLC lifted its position in Wells Fargo & Company by 5.9% during the fourth quarter. Connectus Wealth LLC now owns 12,226 shares of the financial services provider’s stock worth $602,000 after buying an additional 679 shares in the last quarter. MGO One Seven LLC lifted its position in Wells Fargo & Company by 4.6% during the fourth quarter. MGO One Seven LLC now owns 35,427 shares of the financial services provider’s stock worth $1,744,000 after buying an additional 1,562 shares in the last quarter. Bridgewater Associates LP purchased a new position in Wells Fargo & Company during the fourth quarter worth approximately $26,175,000. Icon Wealth Advisors LLC purchased a new position in Wells Fargo & Company during the fourth quarter worth approximately $389,000. Finally, Caxton Associates LP purchased a new stake in Wells Fargo & Company in the fourth quarter valued at $12,305,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of research analyst reports. Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and reduced their target price for the company from $62.00 to $59.00 in a research report on Friday, August 16th. The Goldman Sachs Group reduced their target price on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Tuesday, September 3rd. Keefe, Bruyette & Woods reduced their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, July 15th. Finally, Morgan Stanley reduced their target price on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday, September 30th. Twelve equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $60.65.

Wells Fargo & Company Trading Up 0.2 %

WFC opened at $57.28 on Wednesday. Wells Fargo & Company has a 12 month low of $38.58 and a 12 month high of $62.55. The stock has a market capitalization of $199.70 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 1.32 and a beta of 1.16. 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 business has a fifty day moving average price of $55.31 and a 200 day moving average price of $57.75.

Wells Fargo & Company (NYSE:WFC) last released 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 analysts’ expectations of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 EPS. Sell-side analysts expect 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 given a dividend of $0.40 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Friday, August 9th. 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.