Sebold Capital Management Inc. Trims Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Sebold Capital Management Inc. trimmed its position in Wells Fargo & Company (NYSE:WFC) by 8.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,524 shares of the financial services provider’s stock after selling 1,000 shares during the quarter. Sebold Capital Management Inc.’s holdings in Wells Fargo & Company were worth $567,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $2,049,693,000. Northern Trust Corp grew its position in shares of Wells Fargo & Company by 0.3% in the third quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock valued at $1,560,755,000 after purchasing an additional 129,300 shares during the period. Moneta Group Investment Advisors LLC increased its stake in shares of Wells Fargo & Company by 129,312.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock worth $1,085,410,000 after purchasing an additional 26,267,166 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Wells Fargo & Company by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 21,901,706 shares of the financial services provider’s stock worth $1,061,357,000 after purchasing an additional 64,080 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its stake in Wells Fargo & Company by 1.9% in the 3rd quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider’s stock valued at $746,484,000 after buying an additional 335,560 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

WFC has been the topic of a number of research analyst reports. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $51.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Piper Sandler decreased their target price on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 16th. Morgan Stanley lifted their price objective on Wells Fargo & Company from $54.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. Finally, Robert W. Baird restated a “neutral” rating and issued a $55.00 target price on shares of Wells Fargo & Company in a research report on Monday, January 8th. Twelve research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $55.19.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $57.61 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.88. Wells Fargo & Company has a 1-year low of $36.27 and a 1-year high of $58.44. The company has a market capitalization of $203.96 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 1.18 and a beta of 1.19. The business has a 50-day moving average of $52.78 and a 200-day moving average of $46.94.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.30). The firm had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.30 billion. Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm earned $0.67 EPS. On average, equities analysts anticipate that Wells Fargo & Company will post 4.72 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, February 1st. This represents a $1.40 annualized dividend and a yield of 2.43%. Wells Fargo & Company’s dividend payout ratio is presently 29.05%.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.