Lakeside Advisors INC. Has $413,000 Stake in Wells Fargo & Company (NYSE:WFC)

Lakeside Advisors INC. decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (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 SEC filing.

A number of other large investors also recently made changes to their positions in WFC. Fortis Group Advisors LLC acquired a new position in shares of Wells Fargo & Company in the 3rd quarter valued at about $25,000. Arlington Trust Co LLC acquired a new position in Wells Fargo & Company in the fourth quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. increased its holdings in Wells Fargo & Company by 208.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares during the last quarter. Studio Investment Management LLC acquired a new position in Wells Fargo & Company in the fourth quarter worth approximately $28,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company in the first quarter worth approximately $28,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC stock traded down $0.56 during midday 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 capitalization of $199.71 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 1.15 and a beta of 1.19. Wells Fargo & Company has a 52 week low of $36.40 and a 52 week high of $58.44. The stock has a 50-day simple moving average of $55.25 and a 200 day simple moving average of $48.55. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. Wells Fargo & Company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the business earned $1.23 earnings per share. As a group, equities research analysts anticipate that Wells Fargo & Company will post 4.86 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were issued a dividend of $0.35 per share. The ex-dividend date of this dividend 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 presently 29.23%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Piper Sandler dropped their price objective on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, January 16th. Citigroup restated a “neutral” rating and issued a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Odeon Capital Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price target on the stock. in a report on Thursday, January 18th. Jefferies Financial Group increased their price target on Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a report on Monday, April 8th. Finally, StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday. Thirteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average 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.