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

Glenview Trust Co decreased its stake in Wells Fargo & Company (NYSE:WFC) by 9.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 have also recently bought and sold shares of the stock. Godfrey Financial Associates Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $25,000. Miller Capital Partners Inc. acquired a new position in Wells Fargo & Company during the fourth quarter worth $25,000. Navalign LLC bought a new stake in Wells Fargo & Company during the fourth quarter worth $26,000. Joseph Group Capital Management acquired a new stake in Wells Fargo & Company in the fourth quarter valued at $28,000. Finally, Core Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $29,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Performance

Shares of WFC 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 debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. The company has a 50-day simple moving average of $81.70 and a 200 day simple moving average of $83.63. Wells Fargo & Company has a 52 week low of $72.78 and a 52 week high of $97.76.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders 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 yield of 2.1%. Wells Fargo & Company’s dividend payout ratio (DPR) is 26.16%.

Wall Street Analyst Weigh In

WFC has been the topic of a number of research analyst reports. UBS Group dropped their target price on shares of Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Barclays dropped their price objective on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 15th. Morgan Stanley raised their price objective on Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Keefe, Bruyette & Woods reduced their target price on Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating for the company in a research note on Wednesday, July 15th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $98.50.

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.