Wells Fargo & Company (NYSE:WFC) Shares Bought by Legacy Bridge LLC

Legacy Bridge LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 7.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,904 shares of the financial services provider’s stock after purchasing an additional 487 shares during the period. Legacy Bridge LLC’s holdings in Wells Fargo & Company were worth $285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Csenge Advisory Group raised its position in Wells Fargo & Company by 3.3% in the 3rd quarter. Csenge Advisory Group now owns 21,920 shares of the financial services provider’s stock valued at $882,000 after purchasing an additional 700 shares in the last quarter. Tevis Investment Management raised its position in Wells Fargo & Company by 19.4% in the 3rd quarter. Tevis Investment Management now owns 2,641 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 430 shares in the last quarter. Tranquilli Financial Advisor LLC raised its position in Wells Fargo & Company by 15.3% in the 2nd quarter. Tranquilli Financial Advisor LLC now owns 5,907 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 784 shares in the last quarter. Ulysses Management LLC raised its position in Wells Fargo & Company by 25.0% in the 3rd quarter. Ulysses Management LLC now owns 50,000 shares of the financial services provider’s stock valued at $2,011,000 after purchasing an additional 10,000 shares in the last quarter. Finally, LVW Advisors LLC raised its position in Wells Fargo & Company by 12.0% in the 3rd quarter. LVW Advisors LLC now owns 7,958 shares of the financial services provider’s stock valued at $320,000 after purchasing an additional 853 shares in the last quarter. Institutional investors and hedge funds own 72.24% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $37.76 on Friday. The stock has a fifty day moving average price of $45.02 and a 200 day moving average price of $44.22. The stock has a market cap of $142.62 billion, a PE ratio of 12.03, a P/E/G ratio of 0.80 and a beta of 1.17. Wells Fargo & Company has a 1 year low of $36.54 and a 1 year high of $54.20. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.84 and a current ratio of 0.84.

Wells Fargo & Company (NYSE:WFC – Get Rating) last issued its quarterly earnings data on Friday, January 13th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. The firm had revenue of $19.66 billion during the quarter, compared to analysts’ expectations of $20.04 billion. Wells Fargo & Company had a return on equity of 9.28% and a net margin of 15.91%. Wells Fargo & Company’s revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.38 earnings per share. Sell-side analysts forecast that Wells Fargo & Company will post 4.81 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 3rd were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, February 2nd. This represents a $1.20 annualized dividend and a yield of 3.18%. Wells Fargo & Company’s dividend payout ratio is presently 38.22%.

Analysts Set New Price Targets

A number of research firms have recently commented on WFC. Odeon Capital Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating in a report on Monday, March 13th. Cfra upgraded Wells Fargo & Company to a “buy” rating and set a $50.00 price objective on the stock in a report on Friday, January 13th. Morgan Stanley dropped their price objective on Wells Fargo & Company from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, December 15th. Citigroup increased their price objective on Wells Fargo & Company from $48.00 to $52.00 in a report on Tuesday, January 17th. Finally, Jefferies Financial Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating and dropped their price objective for the company from $49.00 to $46.00 in a report on Tuesday, January 17th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $52.09.

Insider Buying and Selling

In related news, EVP Kleber Santos sold 34,698 shares of Wells Fargo & Company stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $46.27, for a total transaction of $1,605,476.46. Following the completion of the transaction, the executive vice president now directly owns 19,590 shares of the company’s stock, valued at $906,429.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.05% of the stock is currently owned by insiders.

Wells Fargo & Company Profile

(Get Rating)

Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage products and services, and consumer and commercial finance. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management.