Sebold Capital Management Inc. Has $574,000 Stock Position in Wells Fargo & Company (NYSE:WFC)

Sebold Capital Management Inc. reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 7.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 7,999 shares of the financial services provider’s stock after selling 635 shares during the quarter. Sebold Capital Management Inc.’s holdings in Wells Fargo & Company were worth $574,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rialto Wealth Management LLC bought a new position in Wells Fargo & Company in the fourth quarter worth $26,000. Investment Counsel Co. of Nevada acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $28,000. BNP Paribas bought a new position in shares of Wells Fargo & Company during the 4th quarter worth about $28,000. Rakuten Securities Inc. boosted its position in shares of Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 237 shares in the last quarter. Finally, Parvin Asset Management LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $32,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Piper Sandler reissued an “overweight” rating and issued a $85.00 target price (up from $75.00) on shares of Wells Fargo & Company in a report on Wednesday, June 4th. Truist Financial dropped their price target on Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a report on Monday, April 14th. Phillip Securities upgraded Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, April 14th. Bank of America increased their target price on Wells Fargo & Company from $83.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Finally, Citigroup lifted their price target on Wells Fargo & Company from $78.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $78.33.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $82.37 on Thursday. Wells Fargo & Company has a one year low of $50.15 and a one year high of $82.60. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $268.05 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 1.36 and a beta of 1.16. The stock’s fifty day moving average price is $74.79 and its two-hundred day moving average price is $73.27.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.16. The company had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a return on equity of 12.15% and a net margin of 16.19%. Wells Fargo & Company’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 EPS. On average, equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company declared that its Board of Directors has approved a stock buyback 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 generally a sign that the company’s management believes its shares are undervalued.

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 paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, May 9th. Wells Fargo & Company’s payout ratio is 28.73%.

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.