Glenview Trust Co lowered its position in Wells Fargo & Company (NYSE:WFC – Free Report) by 6.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,621 shares of the financial services provider’s stock after selling 7,025 shares during the period. Glenview Trust Co’s holdings in Wells Fargo & Company were worth $7,574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also modified their holdings of the company. Bryn Mawr Trust Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the second quarter valued at $658,000. WINTON GROUP Ltd bought a new position in shares of Wells Fargo & Company in the second quarter worth about $16,259,000. Citizens Financial Group Inc. RI bought a new position in shares of Wells Fargo & Company in the second quarter worth about $25,922,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Wells Fargo & Company in the 2nd quarter worth about $1,116,000. Finally, Whalen Wealth Management Inc. purchased a new position in Wells Fargo & Company in the 2nd quarter worth about $1,190,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.
Wells Fargo & Company Stock Down 1.7%
Shares of Wells Fargo & Company stock opened at $83.39 on Friday. The stock has a market cap of $250.32 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 0.89 and a beta of 0.96. The firm’s 50-day moving average is $84.33 and its two-hundred day moving average is $83.70. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.89 and a quick ratio of 0.90. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year high of $97.76.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last issued its quarterly earnings data on Tuesday, October 13th. The financial services provider reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.02. The company had revenue of $21.87 billion during the quarter, compared to the consensus estimate of $22.30 billion. Wells Fargo & Company had a net margin of 17.64% and a return on equity of 14.05%. Wells Fargo & Company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.66 earnings per share. As a group, research analysts expect that Wells Fargo & Company will post 7.27 earnings per share for the current fiscal year.
Wells Fargo & Company Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 6th will be issued a $0.50 dividend. The ex-dividend date is Friday, November 6th. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. Wells Fargo & Company’s payout ratio is currently 28.21%.
Wall Street Analyst Weigh In
Several research firms have issued reports on WFC. JPMorgan Chase & Co. boosted their price objective on shares of Wells Fargo & Company from $91.50 to $92.00 and gave the company a “neutral” rating in a research report on Friday. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Thursday, October 15th. Bank of America raised their target price on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. TD Cowen started coverage on shares of Wells Fargo & Company in a research note on Thursday, October 8th. They set a “buy” rating and a $95.00 price target for the company. Finally, Citigroup decreased their price target on shares of Wells Fargo & Company from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Wednesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.11.
Get Our Latest Research Report on Wells Fargo & Company
About Wells Fargo & Company
Wells Fargo & Company is a diversified financial services company that provides banking, lending, investment, and financial management services to individuals, businesses, and institutions. Its offerings include deposit accounts, residential and commercial lending, credit cards, payments, treasury management, and other banking products.
The company also provides wealth and investment management services, including financial planning, brokerage, advisory, and private banking solutions.
Featured Articles
- Five stocks we like better than Wells Fargo & Company
- Starbucks Says Its Turnaround Is Done—The Numbers Make a Strong Case (With 1 Catch)
- 3 Robotics ETFs, 3 Different Ways to Bet on Humanoid Robots
- Can Microsoft Turn a Leaner Workforce and Record AI Spending Into Bigger Profits?
- Why JFrog Could Be the Software Infrastructure Company to Beat in the AI Boom
Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC – Free Report).
Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.
