Wells Fargo & Company (NYSE:WFC) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 2.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 478,981 shares of the financial services provider’s stock after selling 14,365 shares during the quarter. Yousif Capital Management LLC’s holdings in Wells Fargo & Company were worth $34,386,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of WFC. Norges Bank acquired a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $3,365,658,000. Capital Research Global Investors grew its stake in Wells Fargo & Company by 932.0% during the 4th quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider’s stock valued at $1,105,218,000 after purchasing an additional 14,210,193 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Wells Fargo & Company by 7,887.9% during the 1st quarter. GAMMA Investing LLC now owns 3,393,083 shares of the financial services provider’s stock worth $243,589,000 after buying an additional 3,350,605 shares during the last quarter. Northern Trust Corp lifted its holdings in Wells Fargo & Company by 10.7% during the 4th quarter. Northern Trust Corp now owns 34,339,295 shares of the financial services provider’s stock worth $2,411,992,000 after buying an additional 3,307,855 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Wells Fargo & Company during the 4th quarter worth approximately $198,801,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on WFC shares. TD Cowen started coverage on Wells Fargo & Company in a report on Thursday, May 15th. They set a “hold” rating and a $83.00 target price on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $85.00 target price (up previously from $75.00) on shares of Wells Fargo & Company in a report on Wednesday, June 4th. Evercore ISI increased their target price on Wells Fargo & Company from $72.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Thursday, March 13th. Finally, Raymond James reduced their target price 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. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $77.48.

Wells Fargo & Company Stock Up 0.1%

Shares of WFC stock opened at $76.40 on Tuesday. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The stock has a market cap of $248.61 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The business’s fifty day moving average is $70.50 and its 200-day moving average is $72.96. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.15 billion for the quarter, compared to analysts’ expectations of $20.82 billion. During the same period last year, the firm earned $1.20 EPS. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. Equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Friday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 28.73%.

Wells Fargo & Company announced that its Board of Directors has initiated a share repurchase program on Tuesday, April 29th that authorizes the company to buyback $40.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 17.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.