Glenview Trust Co Has $9.01 Million Stock Holdings in Wells Fargo & Company $WFC

Glenview Trust Co decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 9.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,198 shares of the financial services provider’s stock after selling 11,382 shares during the period. Glenview Trust Co’s holdings in Wells Fargo & Company were worth $9,012,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of WFC. Godfrey Financial Associates Inc. acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at about $25,000. Miller Capital Partners Inc. bought a new position in Wells Fargo & Company during the fourth quarter worth about $25,000. Navalign LLC acquired a new stake in Wells Fargo & Company in the 4th quarter worth about $26,000. Joseph Group Capital Management acquired a new stake in Wells Fargo & Company in the 4th quarter worth about $28,000. Finally, Core Wealth Advisors LLC bought a new stake in Wells Fargo & Company in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Friday. The Goldman Sachs Group dropped 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 report on Monday, March 23rd. Piper Sandler reiterated an “overweight” rating and issued a $94.00 price target (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. Barclays reduced their price target on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. Finally, Morgan Stanley raised their price objective on Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.50.

Wells Fargo & Company Trading Down 1.5%

Shares of Wells Fargo & Company stock opened at $86.24 on Tuesday. The company has a market capitalization of $263.90 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 0.96 and a beta of 0.92. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 12-month low of $72.78 and a 12-month high of $97.76. The firm’s 50-day moving average price is $81.70 and its two-hundred day moving average price is $83.63.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were given a dividend of $0.45 per share. The ex-dividend date was Friday, May 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 26.16%.

Wells Fargo & Company Company Profile

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.