Wells Fargo & Co (WFC) Shares Sold by Glenview Trust Co

Glenview Trust Co lowered its position in shares of Wells Fargo & Co (NYSE:WFC) by 9.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 158,713 shares of the financial services provider’s stock after selling 15,986 shares during the period. Glenview Trust Co’s holdings in Wells Fargo & Co were worth $8,318,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Amussen Hunsaker Associates LLC increased its position in Wells Fargo & Co by 14.1% in the 1st quarter. Amussen Hunsaker Associates LLC now owns 13,365 shares of the financial services provider’s stock valued at $700,000 after acquiring an additional 1,654 shares during the period. Alexandria Capital LLC increased its position in Wells Fargo & Co by 9.8% in the 1st quarter. Alexandria Capital LLC now owns 69,098 shares of the financial services provider’s stock valued at $3,622,000 after acquiring an additional 6,175 shares during the period. Kovack Advisors Inc. boosted its holdings in Wells Fargo & Co by 11.0% in the 1st quarter. Kovack Advisors Inc. now owns 11,975 shares of the financial services provider’s stock valued at $628,000 after purchasing an additional 1,185 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in Wells Fargo & Co by 16.6% in the 1st quarter. EP Wealth Advisors LLC now owns 41,973 shares of the financial services provider’s stock valued at $2,200,000 after purchasing an additional 5,986 shares in the last quarter. Finally, Cahill Financial Advisors Inc. boosted its holdings in Wells Fargo & Co by 71.1% in the 1st quarter. Cahill Financial Advisors Inc. now owns 11,993 shares of the financial services provider’s stock valued at $629,000 after purchasing an additional 4,983 shares in the last quarter. Hedge funds and other institutional investors own 76.10% of the company’s stock.

In related news, EVP Petros G. Pelos sold 25,567 shares of the company’s stock in a transaction that occurred on Thursday, May 24th. The stock was sold at an average price of $54.76, for a total value of $1,400,048.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Shares of NYSE:WFC opened at $56.07 on Thursday. The company has a market cap of $276.91 billion, a PE ratio of 13.64, a PEG ratio of 1.53 and a beta of 1.14. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.86 and a current ratio of 0.88. Wells Fargo & Co has a 12 month low of $49.27 and a 12 month high of $66.31.

Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings results on Friday, April 13th. The financial services provider reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.05. The business had revenue of $21.93 billion for the quarter, compared to analyst estimates of $21.74 billion. Wells Fargo & Co had a return on equity of 12.46% and a net margin of 22.80%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.00 EPS. analysts expect that Wells Fargo & Co will post 4.58 EPS for the current fiscal year.

A number of equities research analysts have weighed in on the company. Zacks Investment Research raised Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Saturday, July 7th. Morgan Stanley raised Wells Fargo & Co from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $57.00 to $62.00 in a report on Monday, July 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $57.00 price objective on shares of Wells Fargo & Co in a report on Thursday, April 5th. Vetr raised Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $54.10 price objective on the stock in a report on Thursday, April 5th. Finally, UBS Group raised Wells Fargo & Co from a “neutral” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Thursday, April 5th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $61.96.

About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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