Lakeside Advisors INC. Sells 224 Shares of Wells Fargo & Company (NYSE:WFC)

Lakeside Advisors INC. lessened its position in Wells Fargo & Company (NYSE:WFC) by 2.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 8,400 shares of the financial services provider’s stock after selling 224 shares during the period. Lakeside Advisors INC.’s holdings in Wells Fargo & Company were worth $413,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in WFC. Defender Capital LLC. acquired a new stake in Wells Fargo & Company in the first quarter valued at approximately $246,000. Fairfield Bush & CO. purchased a new position in shares of Wells Fargo & Company during the first quarter valued at approximately $124,000. Dakota Wealth Management purchased a new position in shares of Wells Fargo & Company during the first quarter valued at approximately $222,000. Candriam Luxembourg S.C.A. boosted its position in shares of Wells Fargo & Company by 0.3% during the first quarter. Candriam Luxembourg S.C.A. now owns 273,936 shares of the financial services provider’s stock valued at $13,274,000 after buying an additional 770 shares during the last quarter. Finally, Zions Bancorporation N.A. boosted its position in shares of Wells Fargo & Company by 24.5% during the first quarter. Zions Bancorporation N.A. now owns 9,630 shares of the financial services provider’s stock valued at $467,000 after buying an additional 1,895 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC traded down $0.56 during mid-day trading on Wednesday, hitting $56.41. The stock had a trading volume of 25,620,002 shares, compared to its average volume of 14,756,598. The firm has a market cap of $199.71 billion, a P/E ratio of 11.77, a PEG ratio of 1.15 and a beta of 1.19. The business has a fifty day moving average price of $55.25 and a 200-day moving average price of $48.55. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. Wells Fargo & Company has a 52 week low of $36.40 and a 52 week high of $58.44.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same period in the previous year, the company posted $1.23 earnings per share. The business’s revenue was up .6% on a year-over-year basis. On average, equities research analysts expect that Wells Fargo & Company will post 4.86 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.48%. Wells Fargo & Company’s payout ratio is 29.23%.

Analysts Set New Price Targets

Several brokerages recently issued reports on WFC. Morgan Stanley lifted their target price on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday. Odeon Capital Group cut Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 target price on the stock. in a research report on Thursday, January 18th. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Citigroup reaffirmed a “neutral” rating and set a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $62.00 price objective (up previously from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Thirteen equities research 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 company’s stock. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus price target of $58.85.

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.