Greenleaf Trust Has $5.81 Million Position in Wells Fargo & Company $WFC

Greenleaf Trust cut its holdings in Wells Fargo & Company (NYSE:WFC) by 4.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 72,506 shares of the financial services provider’s stock after selling 3,476 shares during the quarter. Greenleaf Trust’s holdings in Wells Fargo & Company were worth $5,809,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Accretive Wealth Partners LLC bought a new stake in Wells Fargo & Company in the first quarter valued at about $399,000. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in Wells Fargo & Company by 10.4% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock worth $54,471,000 after buying an additional 71,740 shares during the last quarter. Secured Retirement Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 1st quarter worth about $408,000. RKL Wealth Management LLC increased its stake in shares of Wells Fargo & Company by 166.4% in the 1st quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider’s stock valued at $588,000 after acquiring an additional 5,113 shares during the last quarter. Finally, Allianz SE raised its position in shares of Wells Fargo & Company by 22.6% in the 1st quarter. Allianz SE now owns 212,335 shares of the financial services provider’s stock valued at $15,244,000 after acquiring an additional 39,150 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on WFC. Citigroup boosted their price objective on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Truist Financial boosted their price target on shares of Wells Fargo & Company from $86.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Phillip Securities cut shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Morgan Stanley lowered Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $87.00 to $90.00 in a report on Monday. Finally, Bank of America raised their price target on Wells Fargo & Company from $83.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.15.

Wells Fargo & Company Stock Performance

WFC opened at $84.64 on Tuesday. The firm has a market cap of $271.14 billion, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 1.31 and a beta of 1.25. Wells Fargo & Company has a 52-week low of $54.40 and a 52-week high of $86.65. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. The business’s fifty day moving average is $80.93 and its 200-day moving average is $76.06.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The business had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. During the same quarter in the previous year, the firm earned $1.33 earnings per share. Wells Fargo & Company’s revenue for the quarter was up .6% compared to the same quarter last year. Sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a dividend of $0.45 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. Wells Fargo & Company’s payout ratio is currently 30.82%.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.