Arcadia Investment Management Corp MI Sells 225 Shares of Wells Fargo & Company (NYSE:WFC)

Arcadia Investment Management Corp MI decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 18.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,000 shares of the financial services provider’s stock after selling 225 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Wells Fargo & Company were worth $49,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Fortis Group Advisors LLC acquired a new position in shares of Wells Fargo & Company in the 3rd quarter valued at approximately $25,000. Arlington Trust Co LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $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 in the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $29,000. Finally, Wetzel Investment Advisors Inc. bought a new stake in Wells Fargo & Company in the 4th quarter valued at $32,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC traded up $0.07 during trading hours on Thursday, hitting $61.30. The company had a trading volume of 14,223,917 shares, compared to its average volume of 18,845,982. The business has a fifty day moving average of $57.99 and a 200-day moving average of $50.70. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The firm has a market cap of $213.71 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.16 and a beta of 1.18. Wells Fargo & Company has a 12 month low of $37.18 and a 12 month high of $61.76.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the prior year, the firm earned $1.23 EPS. The business’s revenue was up .6% on a year-over-year basis. Equities analysts anticipate that Wells Fargo & Company will post 5.08 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.28%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Analysts Set New Price Targets

WFC has been the topic of several recent research reports. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Evercore ISI boosted their target price on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Morgan Stanley upped their price target on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. The Goldman Sachs Group lifted their price objective on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, Argus increased their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Fourteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $58.99.

About Wells Fargo & Company

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.