Yousif Capital Management LLC Has $36.09 Million Position in Wells Fargo & Company $WFC

Yousif Capital Management LLC lessened its position in shares of Wells Fargo & Company (NYSE:WFC) by 8.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 430,586 shares of the financial services provider’s stock after selling 37,207 shares during the period. Yousif Capital Management LLC’s holdings in Wells Fargo & Company were worth $36,092,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in WFC. Brighton Jones LLC lifted its stake in Wells Fargo & Company by 62.3% during the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after purchasing an additional 25,436 shares during the last quarter. AlphaQuest LLC acquired a new position in shares of Wells Fargo & Company during the 1st quarter worth $155,000. Jump Financial LLC lifted its position in shares of Wells Fargo & Company by 2.7% during the 1st quarter. Jump Financial LLC now owns 20,289 shares of the financial services provider’s stock worth $1,457,000 after buying an additional 539 shares during the last quarter. Quantitative Investment Management LLC bought a new stake in shares of Wells Fargo & Company during the 1st quarter worth $1,772,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in Wells Fargo & Company by 159.3% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 12,234 shares of the financial services provider’s stock valued at $878,000 after buying an additional 7,516 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

WFC has been the subject of several research analyst reports. Keefe, Bruyette & Woods boosted their target price on Wells Fargo & Company from $92.00 to $101.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 17th. Cowen reaffirmed a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, October 15th. Truist Financial upped their price objective on shares of Wells Fargo & Company from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, Weiss Ratings upgraded shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday, October 8th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $92.04.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $94.28 on Tuesday. The business has a 50 day moving average of $87.08 and a 200-day moving average of $82.55. The company has a market capitalization of $295.95 billion, a P/E ratio of 15.51, a P/E/G ratio of 0.96 and a beta of 1.11. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $94.39. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, topping the consensus estimate of $1.55 by $0.18. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The business had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. During the same period last year, the company earned $1.42 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 7th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.80 annualized dividend and a dividend yield of 1.9%. Wells Fargo & Company’s payout ratio is currently 29.61%.

About Wells Fargo & Company

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.