Yousif Capital Management LLC Cuts Stock Position in Wells Fargo & Company $WFC

Yousif Capital Management LLC lowered its position in Wells Fargo & Company (NYSE:WFC) by 7.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 398,578 shares of the financial services provider’s stock after selling 32,008 shares during the period. Yousif Capital Management LLC’s holdings in Wells Fargo & Company were worth $34,541,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of WFC. Redmont Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company in the 3rd quarter worth approximately $27,000. Marquette Asset Management LLC grew its position in shares of Wells Fargo & Company by 472.4% in the 3rd quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock worth $28,000 after buying an additional 274 shares during the last quarter. Grey Fox Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company in the 3rd quarter worth approximately $30,000. Imprint Wealth LLC purchased a new position in shares of Wells Fargo & Company in the 3rd quarter worth approximately $31,000. Finally, Aventus Investment Advisors Inc. purchased a new position in shares of Wells Fargo & Company in the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.2%

NYSE:WFC opened at $81.69 on Wednesday. The company has a market cap of $252.07 billion, a PE ratio of 13.03, a P/E/G ratio of 0.86 and a beta of 1.06. Wells Fargo & Company has a twelve month low of $59.43 and a twelve month high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.05. The company’s 50 day moving average is $83.55 and its two-hundred day moving average is $86.20.

Wells Fargo & Company (NYSE:WFCGet Free Report) last announced its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, beating the consensus estimate of $1.66 by $0.10. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The business had revenue of $21.29 billion during the quarter, compared to analysts’ expectations of $21.63 billion. During the same period in the previous year, the business posted $1.43 EPS. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, March 1st. Shareholders of record on Friday, February 6th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, February 6th. Wells Fargo & Company’s payout ratio is presently 28.71%.

Insider Buying and Selling at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Bridget E. Engle sold 30,000 shares of Wells Fargo & Company stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the completion of the sale, the executive vice president directly owned 83,478 shares in the company, valued at approximately $7,270,933.80. The trade was a 26.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Ellen R. Patterson sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the sale, the executive vice president owned 169,496 shares of the company’s stock, valued at approximately $14,813,950.40. The trade was a 26.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 115,000 shares of company stock worth $10,050,000. Company insiders own 0.08% of the company’s stock.

More Wells Fargo & Company News

Here are the key news stories impacting Wells Fargo & Company this week:

Analyst Ratings Changes

Several research firms have weighed in on WFC. Argus boosted their target price on shares of Wells Fargo & Company from $94.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Wednesday, January 21st. HSBC raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Wednesday, April 1st. Royal Bank Of Canada reissued an “outperform” rating and set a $100.00 target price on shares of Wells Fargo & Company in a research report on Thursday, January 15th. Finally, Barclays boosted their target price on shares of Wells Fargo & Company from $94.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus target price of $97.70.

Read Our Latest Analysis on Wells Fargo & Company

Wells Fargo & Company Profile

(Free Report)

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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