Yousif Capital Management LLC Sells 11,188 Shares of Wells Fargo & Company $WFC

Yousif Capital Management LLC reduced its position in Wells Fargo & Company (NYSE:WFC) by 2.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 467,793 shares of the financial services provider’s stock after selling 11,188 shares during the quarter. Yousif Capital Management LLC’s holdings in Wells Fargo & Company were worth $37,480,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Wealth Management Partners LLC grew its holdings in shares of Wells Fargo & Company by 3.5% during the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock valued at $313,000 after purchasing an additional 128 shares during the last quarter. Verum Partners LLC grew its holdings in shares of Wells Fargo & Company by 1.8% during the 2nd quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock valued at $582,000 after purchasing an additional 128 shares during the last quarter. Motive Wealth Advisors grew its holdings in shares of Wells Fargo & Company by 3.7% during the 2nd quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 129 shares during the last quarter. Vivid Wealth Management LLC boosted its position in Wells Fargo & Company by 0.8% during the 2nd quarter. Vivid Wealth Management LLC now owns 17,243 shares of the financial services provider’s stock worth $1,381,000 after buying an additional 133 shares during the period. Finally, Lynch & Associates IN boosted its position in Wells Fargo & Company by 2.0% during the 2nd quarter. Lynch & Associates IN now owns 6,729 shares of the financial services provider’s stock worth $539,000 after buying an additional 135 shares during the period. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $77.74 on Monday. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $86.65. The firm has a fifty day simple moving average of $80.63 and a 200 day simple moving average of $76.56. The company has a market capitalization of $249.04 billion, a PE ratio of 13.31, a P/E/G ratio of 1.25 and a beta of 1.25. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The business had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. During the same quarter last year, the firm earned $1.33 earnings per share. Wells Fargo & Company’s quarterly revenue was up .6% on a year-over-year basis. On average, sell-side analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were paid a dividend of $0.45 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s payout ratio is 30.82%.

Wall Street Analysts Forecast Growth

WFC has been the topic of several recent research reports. Truist Financial lifted their target price on shares of Wells Fargo & Company from $86.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Morgan Stanley downgraded shares of Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $87.00 to $90.00 in a research report on Monday, September 29th. Piper Sandler reiterated an “overweight” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. The Goldman Sachs Group cut their target price on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Finally, UBS Group cut their target price on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Nine investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.41.

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.