Wells Fargo & Company $WFC Shares Sold by Glenview Trust Co

Glenview Trust Co lowered its position in Wells Fargo & Company (NYSE:WFC) by 9.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,580 shares of the financial services provider’s stock after selling 12,385 shares during the quarter. Glenview Trust Co’s holdings in Wells Fargo & Company were worth $11,611,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors raised its stake in shares of Wells Fargo & Company by 18.6% in the 3rd quarter. Capital Research Global Investors now owns 35,660,903 shares of the financial services provider’s stock valued at $2,989,104,000 after purchasing an additional 5,584,930 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Wells Fargo & Company by 1.9% in the 3rd quarter. Legal & General Group Plc now owns 21,009,237 shares of the financial services provider’s stock valued at $1,760,994,000 after purchasing an additional 399,088 shares in the last quarter. Boston Partners raised its stake in shares of Wells Fargo & Company by 1.9% in the 3rd quarter. Boston Partners now owns 9,128,470 shares of the financial services provider’s stock valued at $763,675,000 after purchasing an additional 174,350 shares in the last quarter. Davis Selected Advisers raised its stake in shares of Wells Fargo & Company by 6.1% in the 4th quarter. Davis Selected Advisers now owns 8,258,031 shares of the financial services provider’s stock valued at $769,649,000 after purchasing an additional 471,979 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Wells Fargo & Company by 8.5% in the 3rd quarter. California Public Employees Retirement System now owns 6,726,087 shares of the financial services provider’s stock valued at $563,781,000 after purchasing an additional 529,305 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Insider Transactions at Wells Fargo & Company

In related news, EVP Ellen R. Patterson sold 60,000 shares of the business’s stock in a transaction dated 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 $14,813,950.40. This represents a 26.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bridget E. Engle sold 30,000 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the sale, the executive vice president directly owned 83,478 shares of the company’s stock, valued at approximately $7,270,933.80. This represents a 26.44% decrease in their position. The SEC filing for this sale provides additional information. 0.14% of the stock is owned by corporate insiders.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $76.52 on Monday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12. Wells Fargo & Company has a fifty-two week low of $71.89 and a fifty-two week high of $97.76. The firm has a 50-day simple moving average of $78.92 and a 200 day simple moving average of $85.24. The company has a market cap of $234.15 billion, a PE ratio of 11.81, a P/E/G ratio of 0.90 and a beta of 0.96.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.02. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The business had revenue of $11.62 billion during the quarter, compared to the consensus estimate of $21.85 billion. During the same quarter in the prior year, the firm earned $1.39 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Wells Fargo & Company will post 6.82 EPS for the current year.

Wells Fargo & Company Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WFC shares. Jefferies Financial Group started coverage on shares of Wells Fargo & Company in a research note on Thursday, March 26th. They issued a “buy” rating and a $100.00 target price on the stock. HSBC upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Wednesday, April 1st. Truist Financial cut their target price on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Phillip Securities upgraded shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average price target of $97.53.

Key Headlines Impacting Wells Fargo & Company

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.