Legacy Financial Group LLC Decreases Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Legacy Financial Group LLC trimmed its position in shares of Wells Fargo & Company (NYSE:WFC) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,537 shares of the financial services provider’s stock after selling 551 shares during the quarter. Legacy Financial Group LLC’s holdings in Wells Fargo & Company were worth $951,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Income Research & Management purchased a new stake in shares of Wells Fargo & Company during the third quarter valued at about $211,000. Mattson Financial Services LLC acquired a new position in shares of Wells Fargo & Company during the second quarter valued at about $25,000. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $30,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Wells Fargo & Company during the second quarter valued at about $26,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $32,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on WFC. Barclays upped their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Compass Point increased their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Morgan Stanley increased their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. The Goldman Sachs Group increased their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price target for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Trading Down 0.3 %

Shares of WFC stock opened at $77.23 on Monday. Wells Fargo & Company has a fifty-two week low of $47.45 and a fifty-two week high of $78.30. The firm has a market capitalization of $257.13 billion, a P/E ratio of 14.35, a PEG ratio of 1.17 and a beta of 1.18. The stock’s fifty day moving average is $73.19 and its two-hundred day moving average is $64.07. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period last year, the company earned $0.86 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts expect that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wells Fargo & Company Company Profile

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.