Pacifica Capital Investments LLC Sells 1,000 Shares of Wells Fargo & Company (NYSE:WFC)

Pacifica Capital Investments LLC cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 12.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 7,335 shares of the financial services provider’s stock after selling 1,000 shares during the period. Wells Fargo & Company accounts for about 0.1% of Pacifica Capital Investments LLC’s portfolio, making the stock its 17th biggest position. Pacifica Capital Investments LLC’s holdings in Wells Fargo & Company were worth $425,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of WFC. Fortis Group Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at $25,000. Arlington Trust Co LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $25,000. Core Wealth Advisors Inc. purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $25,000. Leith Wheeler Investment Counsel Ltd. increased its position in shares of Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 356,620 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $29,000. 75.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on WFC shares. Citigroup reaffirmed a “neutral” rating and set a $63.00 target price (up from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $62.00 target price (up from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Evercore ISI lifted their price objective on Wells Fargo & Company from $69.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, June 25th. Argus lifted their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Finally, StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Thirteen analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $59.36.

Wells Fargo & Company Price Performance

Shares of WFC traded down $0.18 during trading hours on Wednesday, reaching $59.70. 12,092,711 shares of the company’s stock traded hands, compared to its average volume of 18,178,027. The stock has a market cap of $208.13 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 1.45 and a beta of 1.17. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The firm’s 50 day simple moving average is $59.54 and its 200-day simple moving average is $55.69. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the company posted $1.23 EPS. Equities analysts expect that Wells Fargo & Company will post 5.15 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.35%. Wells Fargo & Company’s payout ratio is 29.23%.

Wells Fargo & Company Profile

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.