Yousif Capital Management LLC Sells 22,964 Shares of Wells Fargo & Company (NYSE:WFC)

Yousif Capital Management LLC cut its holdings in Wells Fargo & Company (NYSE:WFC) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 493,346 shares of the financial services provider’s stock after selling 22,964 shares during the quarter. Yousif Capital Management LLC’s holdings in Wells Fargo & Company were worth $34,653,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. National Pension Service boosted its stake in Wells Fargo & Company by 15.2% in the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after acquiring an additional 897,195 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Wells Fargo & Company by 2.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock valued at $375,183,000 after acquiring an additional 162,066 shares during the last quarter. Nordea Investment Management AB raised its holdings in Wells Fargo & Company by 10.1% in the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock worth $441,983,000 after purchasing an additional 575,892 shares during the period. Two Sigma Advisers LP raised its holdings in Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after purchasing an additional 5,237,500 shares during the period. Finally, Canoe Financial LP acquired a new stake in Wells Fargo & Company in the third quarter worth $160,529,000. 75.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WFC has been the topic of several analyst reports. Evercore ISI increased their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group increased their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a report on Monday, October 14th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their target price for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $79.56 on Wednesday. The firm has a 50-day moving average of $73.61 and a 200-day moving average of $64.92. Wells Fargo & Company has a one year low of $47.45 and a one year high of $79.85. The company has a market cap of $264.88 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 1.19 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last year, the firm posted $0.86 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities analysts forecast that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

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.