Seizert Capital Partners LLC Trims Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Seizert Capital Partners LLC decreased its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 839,283 shares of the financial services provider's stock after selling 18,195 shares during the quarter. Wells Fargo & Company comprises approximately 2.8% of Seizert Capital Partners LLC's investment portfolio, making the stock its 6th largest position. Seizert Capital Partners LLC's holdings in Wells Fargo & Company were worth $60,252,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Investment Counsel Co. of Nevada bought a new position in Wells Fargo & Company during the fourth quarter worth $28,000. BNP Paribas bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $28,000. Motco increased its holdings in shares of Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 326 shares in the last quarter. Parvin Asset Management LLC bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $32,000. Finally, Dunhill Financial LLC increased its holdings in shares of Wells Fargo & Company by 63.7% during the fourth quarter. Dunhill Financial LLC now owns 496 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 193 shares in the last quarter. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock traded down $0.86 during midday trading on Wednesday, reaching $81.79. 15,567,115 shares of the stock were exchanged, compared to its average volume of 18,313,220. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $84.83. The firm has a market cap of $266.16 billion, a PE ratio of 14.01, a PEG ratio of 1.29 and a beta of 1.16. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. The company's fifty day moving average is $78.31 and its 200-day moving average is $74.83.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $20.83 billion. During the same period in the previous year, the business posted $1.33 earnings per share. Wells Fargo & Company's revenue for the quarter 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 declared that its Board of Directors has approved a share repurchase plan on Tuesday, April 29th that allows the company to buyback $40.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 17.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 8th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, August 8th. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.20%. Wells Fargo & Company's payout ratio is presently 27.40%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on WFC shares. Barclays decreased their price objective on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Raymond James Financial lowered Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a report on Monday, July 7th. Piper Sandler restated an "overweight" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Truist Financial raised their target price on Wells Fargo & Company from $83.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, The Goldman Sachs Group dropped their price target 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $80.39.

Wells Fargo & 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.