Scott & Selber Inc. Sells 190 Shares of Wells Fargo & Company (NYSE:WFC)

Scott & Selber Inc. lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 0.6% during the 4th quarter, HoldingsChannel reports. The fund owned 30,222 shares of the financial services provider’s stock after selling 190 shares during the quarter. Scott & Selber Inc.’s holdings in Wells Fargo & Company were worth $2,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of WFC. Spinnaker Trust lifted its position in Wells Fargo & Company by 1.8% during the fourth quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock valued at $520,000 after purchasing an additional 130 shares in the last quarter. MONECO Advisors LLC lifted its position in shares of Wells Fargo & Company by 1.9% during the 4th quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock valued at $493,000 after buying an additional 134 shares in the last quarter. Crown Wealth Group LLC lifted its position in shares of Wells Fargo & Company by 2.2% during the 4th quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider’s stock valued at $467,000 after buying an additional 140 shares in the last quarter. Jacobsen Capital Management grew its stake in shares of Wells Fargo & Company by 2.8% during the 4th quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock valued at $381,000 after acquiring an additional 148 shares during the period. Finally, New Republic Capital LLC increased its holdings in Wells Fargo & Company by 2.9% in the 4th quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock worth $369,000 after acquiring an additional 149 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $76.96 on Tuesday. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The firm’s fifty day moving average is $76.00 and its 200 day moving average is $68.11. The company has a market cap of $253.06 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 1.18 and a beta of 1.18.

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 firm had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 EPS. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. Wells Fargo & Company’s payout ratio is 29.74%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Citigroup lifted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Keefe, Bruyette & Woods lifted their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Barclays increased their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. The Goldman Sachs Group raised their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, UBS Group upped their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average price target of $73.39.

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.