Wells Fargo & Company $WFC Holdings Reduced by Glenview Trust Co

Glenview Trust Co decreased its position in Wells Fargo & Company (NYSE:WFC) by 9.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 124,580 shares of the financial services provider’s stock after selling 12,385 shares during the period. Glenview Trust Co’s holdings in Wells Fargo & Company were worth $11,611,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of WFC. Brighton Jones LLC grew its position in Wells Fargo & Company by 62.3% in the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after purchasing an additional 25,436 shares during the last quarter. Jump Financial LLC grew its position in Wells Fargo & Company by 12.9% in the 2nd quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider’s stock worth $1,835,000 after purchasing an additional 2,615 shares during the last quarter. Main Street Financial Solutions LLC grew its position in Wells Fargo & Company by 111.0% in the 2nd quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider’s stock worth $1,122,000 after purchasing an additional 7,368 shares during the last quarter. Vivaldi Capital Management LP grew its position in Wells Fargo & Company by 5.4% in the 2nd quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 165 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its position in Wells Fargo & Company by 51.2% in the 2nd quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider’s stock worth $2,044,000 after purchasing an additional 8,714 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.2%

Shares of NYSE:WFC opened at $76.52 on Monday. The stock has a market capitalization of $234.15 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 0.90 and a beta of 0.96. Wells Fargo & Company has a 1-year low of $71.89 and a 1-year high of $97.76. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. The company has a 50 day moving average price of $78.92 and a 200 day moving average price of $85.24.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.02. The firm had revenue of $11.62 billion during the quarter, compared to analysts’ expectations of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the firm posted $1.39 earnings per share. On average, research analysts anticipate that Wells Fargo & Company will post 6.82 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, May 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 27.78%.

Analysts Set New Price Targets

WFC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Wells Fargo & Company from $91.00 to $86.50 and set a “neutral” rating for the company in a research note on Thursday, April 30th. KGI Securities lowered shares of Wells Fargo & Company to a “hold” rating in a research note on Thursday, April 16th. Phillip Securities raised shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Keefe, Bruyette & Woods reduced their price target on shares of Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating for the company in a research note on Wednesday, April 15th. Finally, The Goldman Sachs Group reduced their price target on shares of Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus target price of $97.53.

Insider Buying and Selling

In related news, EVP Bridget E. Engle sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $87.10, for a total value of $2,613,000.00. Following the completion of the sale, the executive vice president owned 83,478 shares in the company, valued at approximately $7,270,933.80. This represents a 26.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ellen R. Patterson sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the completion of the sale, the executive vice president owned 169,496 shares of the company’s stock, valued at approximately $14,813,950.40. This trade represents a 26.14% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.14% of the company’s stock.

Wells Fargo & Company News Roundup

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Wells Fargo launched Advisor Gateway, a new desktop platform for financial advisors that gives access to more than 200 tools and applications. Investors may see this as a sign the bank is investing in technology and advisor productivity, which could support fee growth and client retention. Wells Fargo & Company (WFC) Launches Advisor Gateway, Here’s What You Need to Know
• Positive Sentiment: Analysts and market commentary continue to frame WFC as undervalued, with cost cuts and efficiency improvements potentially helping the bank reach its 17%–18% ROTCE target. That supports the case for earnings leverage if management executes well. WFC’s Efficiency Story: Will Cost Cuts Lift ROTCE to Its Target Level?
• Positive Sentiment: Wall Street reaction to the recent $110 million discrimination settlement has been relatively muted to constructive, with commentary noting a buy-skewed analyst consensus and insider buying. That suggests investors may be looking past the legal overhang. Wall Street’s Verdict on Wells Fargo After the $110 Million Discrimination Settlement
• Neutral Sentiment: One article on Wells Fargo’s revised price target for Alphabet is only indirectly relevant to WFC and does not appear to be a direct driver of the stock today.
• Neutral Sentiment: Several repeat items discuss the same Advisor Gateway launch and efficiency/cost-cutting story, reinforcing the same theme rather than adding a new catalyst.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.