Glenview Trust Co lowered its stake in shares of Wells Fargo & Co (NYSE:WFC) by 2.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 111,933 shares of the financial services provider’s stock after selling 3,343 shares during the period. Glenview Trust Co’s holdings in Wells Fargo & Co were worth $6,022,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Boston Partners boosted its position in Wells Fargo & Co by 7.2% in the third quarter. Boston Partners now owns 21,203,872 shares of the financial services provider’s stock worth $1,069,832,000 after purchasing an additional 1,417,096 shares during the last quarter. Sanders Capital LLC increased its position in shares of Wells Fargo & Co by 13.0% during the 4th quarter. Sanders Capital LLC now owns 19,987,319 shares of the financial services provider’s stock valued at $1,190,684,000 after purchasing an additional 2,304,769 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Wells Fargo & Co by 6.9% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 12,370,499 shares of the financial services provider’s stock worth $623,968,000 after purchasing an additional 796,884 shares during the period. California Public Employees Retirement System raised its stake in shares of Wells Fargo & Co by 25.4% during the 3rd quarter. California Public Employees Retirement System now owns 9,574,833 shares of the financial services provider’s stock worth $482,955,000 after purchasing an additional 1,936,599 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Wells Fargo & Co by 1.3% during the 3rd quarter. Rhumbline Advisers now owns 6,990,197 shares of the financial services provider’s stock worth $352,586,000 after purchasing an additional 92,770 shares during the period. Institutional investors and hedge funds own 75.69% of the company’s stock.

Several equities analysts recently weighed in on the stock. Raymond James lowered shares of Wells Fargo & Co from a “market perform” rating to an “underperform” rating in a research report on Monday, December 2nd. Credit Suisse Group dropped their target price on shares of Wells Fargo & Co from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. UBS Group reduced their target price on shares of Wells Fargo & Co from $52.00 to $49.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Royal Bank of Canada downgraded shares of Wells Fargo & Co from a “sector perform” rating to an “underperform” rating and reduced their target price for the company from $48.00 to $42.00 in a research report on Thursday, January 16th. Finally, Citigroup raised their price target on shares of Wells Fargo & Co from $48.00 to $58.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Seven research analysts have rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $49.88.

Shares of NYSE:WFC traded down $0.16 during midday trading on Friday, reaching $47.96. 1,869,674 shares of the company traded hands, compared to its average volume of 20,914,293. The firm’s fifty day moving average price is $50.12 and its two-hundred day moving average price is $50.11. The firm has a market capitalization of $202.04 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 1.09 and a beta of 1.12. The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 1.37. Wells Fargo & Co has a 12 month low of $43.34 and a 12 month high of $54.75.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Tuesday, January 14th. The financial services provider reported $0.93 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.17). Wells Fargo & Co had a net margin of 18.81% and a return on equity of 12.11%. The firm had revenue of $19.86 billion for the quarter, compared to analysts’ expectations of $20.11 billion. During the same period in the prior year, the firm posted $1.21 EPS. Wells Fargo & Co’s revenue was down 5.4% on a year-over-year basis. Analysts forecast that Wells Fargo & Co will post 4.08 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 7th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend is Thursday, February 6th. Wells Fargo & Co’s payout ratio is 46.58%.

About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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