Edgar Lomax Co. VA Sells 9,015 Shares of Wells Fargo & Company (NYSE:WFC)

Edgar Lomax Co. VA lowered its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 469,085 shares of the financial services provider's stock after selling 9,015 shares during the period. Wells Fargo & Company makes up approximately 2.1% of Edgar Lomax Co. VA's holdings, making the stock its 19th largest holding. Edgar Lomax Co. VA's holdings in Wells Fargo & Company were worth $32,949,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Rialto Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $26,000. Investment Counsel Co. of Nevada purchased a new stake in Wells Fargo & Company during the 4th quarter valued at $28,000. Rakuten Securities Inc. grew its holdings in Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock worth $30,000 after acquiring an additional 237 shares during the last quarter. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at about $30,000. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $30,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WFC. Raymond James reduced their price target on Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating on the stock in a report on Monday, April 14th. Citigroup dropped their target price on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the company an "overweight" rating in a research report on Monday, April 7th. Bank of America lowered their price objective on shares of Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Finally, Barclays reduced their target price on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $75.34.

Wells Fargo & Company Stock Performance

NYSE:WFC traded up $2.25 during mid-day trading on Wednesday, hitting $68.48. 11,443,951 shares of the company traded hands, compared to its average volume of 17,478,859. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The stock's fifty day moving average price is $70.67 and its 200-day moving average price is $71.28. The firm has a market cap of $223.60 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.16. The company had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm's revenue was down 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 EPS. Research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's payout ratio is currently 28.73%.

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.