Glassman Wealth Services Buys 341 Shares of Wells Fargo & Company (NYSE:WFC)

Glassman Wealth Services raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 6.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,603 shares of the financial services provider’s stock after acquiring an additional 341 shares during the quarter. Glassman Wealth Services’ holdings in Wells Fargo & Company were worth $272,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stratos Wealth Partners LTD. boosted its position in Wells Fargo & Company by 7.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 75,246 shares of the financial services provider’s stock valued at $3,610,000 after acquiring an additional 5,248 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its position in Wells Fargo & Company by 10.0% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 13,645 shares of the financial services provider’s stock valued at $655,000 after acquiring an additional 1,244 shares in the last quarter. Weiss Multi Strategy Advisers LLC boosted its position in Wells Fargo & Company by 56.7% during the 4th quarter. Weiss Multi Strategy Advisers LLC now owns 996,217 shares of the financial services provider’s stock valued at $47,798,000 after acquiring an additional 360,635 shares in the last quarter. Salem Investment Counselors Inc. boosted its position in Wells Fargo & Company by 1.6% during the 4th quarter. Salem Investment Counselors Inc. now owns 20,651 shares of the financial services provider’s stock valued at $991,000 after acquiring an additional 321 shares in the last quarter. Finally, OPSEU Pension Plan Trust Fund boosted its position in Wells Fargo & Company by 13.1% during the 4th quarter. OPSEU Pension Plan Trust Fund now owns 106,748 shares of the financial services provider’s stock valued at $5,571,000 after acquiring an additional 12,367 shares in the last quarter. 74.01% of the stock is currently owned by institutional investors and hedge funds.

Shares of WFC stock traded down $1.04 on Thursday, hitting $37.56. The company had a trading volume of 495,420 shares, compared to its average volume of 22,834,908. The firm has a market cap of $142.37 billion, a P/E ratio of 8.02, a price-to-earnings-growth ratio of 0.94 and a beta of 1.13. The company has a 50-day moving average price of $43.55 and a 200-day moving average price of $49.10. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.95. Wells Fargo & Company has a twelve month low of $36.54 and a twelve month high of $60.30.

Wells Fargo & Company (NYSE:WFCGet Rating) last issued its quarterly earnings data on Thursday, April 14th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.07. The business had revenue of $17.59 billion during the quarter, compared to analysts’ expectations of $17.82 billion. Wells Fargo & Company had a return on equity of 12.20% and a net margin of 25.35%. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 EPS. Equities research analysts expect that Wells Fargo & Company will post 4.07 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Friday, May 6th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 5th. This represents a $1.00 annualized dividend and a dividend yield of 2.66%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 20.79%.

In other news, EVP Kleber Santos sold 22,700 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $44.44, for a total value of $1,008,788.00. Following the completion of the transaction, the executive vice president now owns 21,478 shares of the company’s stock, valued at approximately $954,482.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.05% of the company’s stock.

A number of analysts have recently weighed in on WFC shares. The Goldman Sachs Group raised their price objective on Wells Fargo & Company from $54.00 to $56.00 in a research report on Thursday, April 14th. Morgan Stanley lowered their price objective on Wells Fargo & Company from $72.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, March 28th. Raymond James lowered their price objective on Wells Fargo & Company from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, April 18th. StockNews.com started coverage on Wells Fargo & Company in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Piper Sandler set a $48.00 price objective on Wells Fargo & Company in a research report on Monday. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average price target of $57.62.

Wells Fargo & Company Company Profile (Get Rating)

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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

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