Yousif Capital Management LLC Sells 22,964 Shares of Wells Fargo & Company (NYSE:WFC)

Yousif Capital Management LLC decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 4.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 493,346 shares of the financial services provider’s stock after selling 22,964 shares during the quarter. Yousif Capital Management LLC’s holdings in Wells Fargo & Company were worth $34,653,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of WFC. Jacobsen Capital Management boosted its stake in shares of Wells Fargo & Company by 2.8% in the 4th quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 148 shares during the last quarter. Quad Cities Investment Group LLC boosted its stake in Wells Fargo & Company by 0.3% during the fourth quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock worth $3,693,000 after acquiring an additional 158 shares in the last quarter. Investors Research Corp boosted its stake in Wells Fargo & Company by 1.2% during the third quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock worth $760,000 after acquiring an additional 160 shares in the last quarter. Ellenbecker Investment Group boosted its stake in Wells Fargo & Company by 3.9% during the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 164 shares in the last quarter. Finally, Income Research & Management bought a new position in Wells Fargo & Company during the third quarter worth $211,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $79.56 on Wednesday. The business’s 50 day simple moving average is $73.61 and its 200 day simple moving average is $64.92. Wells Fargo & Company has a 12 month low of $47.45 and a 12 month high of $79.85. The company has a market cap of $264.88 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 1.19 and a beta of 1.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 EPS. Sell-side analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.01%. Wells Fargo & Company’s payout ratio is 29.74%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on WFC shares. Truist Financial increased their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Morgan Stanley upped their price objective 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. Barclays upped their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods upped their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Finally, Piper Sandler upped their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $73.39.

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.