Glenview Trust co Sells 4,735 Shares of Wells Fargo & Company (NYSE:WFC)

Glenview Trust co trimmed its position in Wells Fargo & Company (NYSE:WFC) by 1.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 323,957 shares of the financial services provider’s stock after selling 4,735 shares during the period. Glenview Trust co’s holdings in Wells Fargo & Company were worth $22,755,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. boosted its position in Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 237 shares during the last quarter. Modus Advisors LLC bought a new position in Wells Fargo & Company in the 4th quarter valued at $30,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $30,000. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on WFC shares. Citigroup increased their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Morgan Stanley raised their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Truist Financial upped their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. The Goldman Sachs Group raised their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, UBS Group upped their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $74.39.

Wells Fargo & Company Stock Up 3.6 %

Shares of NYSE:WFC opened at $70.96 on Friday. The firm has a fifty day moving average price of $75.89 and a two-hundred day moving average price of $68.93. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The company has a market cap of $233.31 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last year, the business posted $0.86 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

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.