Sebold Capital Management Inc. Sells 533 Shares of Wells Fargo & Company (NYSE:WFC)

Sebold Capital Management Inc. cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 5.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,634 shares of the financial services provider’s stock after selling 533 shares during the quarter. Sebold Capital Management Inc.’s holdings in Wells Fargo & Company were worth $606,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mattson Financial Services LLC purchased a new position in Wells Fargo & Company in the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Wells Fargo & Company in the second quarter worth about $26,000. Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company in the third quarter worth about $29,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth about $30,000. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Wells Fargo & Company in the third quarter worth about $34,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Up 6.6 %

WFC opened at $75.86 on Thursday. The firm has a market cap of $252.58 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 1.39 and a beta of 1.18. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 12 month low of $46.12 and a 12 month high of $78.13. The stock has a fifty day moving average price of $72.41 and a 200-day moving average price of $63.15.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 EPS. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.45 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.11%. Wells Fargo & Company’s payout ratio is presently 33.26%.

Analyst Ratings Changes

Several analysts recently issued reports on WFC shares. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods lifted their price objective on Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 3rd. Morgan Stanley reduced their price objective on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. Piper Sandler lifted their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Citigroup lifted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.92.

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.