Yousif Capital Management LLC Has $34.39 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Yousif Capital Management LLC decreased its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 2.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 478,981 shares of the financial services provider's stock after selling 14,365 shares during the period. Yousif Capital Management LLC's holdings in Wells Fargo & Company were worth $34,386,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Rialto Wealth Management LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $26,000. Investment Counsel Co. of Nevada bought a new stake in Wells Fargo & Company in the 4th quarter valued at $28,000. BNP Paribas bought a new stake in Wells Fargo & Company in the 4th quarter valued at $28,000. Rakuten Securities Inc. boosted its stake in Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 237 shares during the period. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $30,000. Institutional investors own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on WFC shares. JPMorgan Chase & Co. cut their target price on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Bank of America upped their target price on Wells Fargo & Company from $83.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Raymond James dropped their price objective on Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating for the company in a research report on Monday, April 14th. Citigroup dropped their price objective on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Finally, Piper Sandler restated an "overweight" rating and set a $85.00 price objective (up from $75.00) on shares of Wells Fargo & Company in a research report on Wednesday, June 4th. Seven research 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. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and an average target price of $77.68.

Wells Fargo & Company Trading Down 0.7%

Shares of WFC stock traded down $0.50 on Wednesday, hitting $74.95. The company had a trading volume of 16,439,027 shares, compared to its average volume of 17,483,905. The firm has a market cap of $243.90 billion, a P/E ratio of 13.93, a P/E/G ratio of 1.18 and a beta of 1.16. The stock's 50-day moving average is $70.70 and its two-hundred day moving average is $72.97. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.16. The company had revenue of $20.15 billion during the quarter, compared to analysts' expectations of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business's quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 earnings per share. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company announced that its board has approved a stock repurchase program on Tuesday, April 29th that allows the company to buyback $40.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 17.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were paid a $0.40 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.13%. 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.