Sebold Capital Management Inc. Sells 1,000 Shares of Wells Fargo & Company (NYSE:WFC)

Sebold Capital Management Inc. reduced its stake in Wells Fargo & Company (NYSE:WFC) by 8.0% during the fourth quarter, according to its most recent filing with the SEC. 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 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Fortis Group Advisors LLC bought a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $25,000. Studio Investment Management LLC purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in Wells Fargo & Company during the 1st quarter worth about $28,000. Baystate Wealth Management LLC grew its holdings in Wells Fargo & Company by 53.0% during the 3rd quarter. Baystate Wealth Management LLC now owns 803 shares of the financial services provider’s stock valued at $33,000 after buying an additional 278 shares in the last quarter. Finally, Impact Partnership Wealth LLC bought a new stake in shares of Wells Fargo & Company during the third quarter valued at about $34,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

WFC has been the subject of several recent analyst reports. Compass Point boosted their target price on Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Robert W. Baird restated a “neutral” rating and set a $55.00 price target on shares of Wells Fargo & Company in a research report on Monday, January 8th. Piper Sandler dropped their target price on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Tuesday, January 16th. Raymond James raised their price target on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 16th. Finally, The Goldman Sachs Group raised their price target on Wells Fargo & Company from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, December 1st. Twelve research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and a consensus price target of $55.19.

Wells Fargo & Company Trading Up 1.6 %

NYSE:WFC opened at $57.61 on Thursday. The business has a fifty day moving average price of $52.78 and a 200-day moving average price of $46.94. The firm has a market capitalization of $203.96 billion, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. Wells Fargo & Company has a one year low of $36.27 and a one year high of $58.44. 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 (NYSE:WFC) last released its 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). Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The business had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.30 billion. During the same quarter in the prior year, the business posted $0.67 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts forecast that Wells Fargo & Company will post 4.72 EPS for the current year.

Wells Fargo & Company Dividend Announcement

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