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

Glassman Wealth Services raised its holdings in Wells Fargo & Company (NYSE:WFC) by 6.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,603 shares of the financial services provider’s stock after purchasing an additional 341 shares during the quarter. Glassman Wealth Services’ holdings in Wells Fargo & Company were worth $272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in WFC. Stratos Wealth Partners LTD. grew its stake in shares of 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 worth $3,610,000 after acquiring an additional 5,248 shares during the period. Dynamic Advisor Solutions LLC grew its stake in shares of 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 worth $655,000 after acquiring an additional 1,244 shares during the period. Weiss Multi Strategy Advisers LLC grew its stake in shares of 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 worth $47,798,000 after acquiring an additional 360,635 shares during the period. Salem Investment Counselors Inc. grew its stake in shares of 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 worth $991,000 after acquiring an additional 321 shares during the period. Finally, OPSEU Pension Plan Trust Fund grew its stake in shares of 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 worth $5,571,000 after acquiring an additional 12,367 shares during the period. Hedge funds and other institutional investors own 74.01% of the company’s stock.

In other Wells Fargo & Company news, EVP Kleber Santos sold 22,700 shares of Wells Fargo & Company stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $44.44, for a total transaction of $1,008,788.00. Following the completion of the transaction, the executive vice president now owns 21,478 shares in the company, valued at $954,482.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.05% of the company’s stock.

Shares of WFC stock traded down $1.04 during trading hours on Thursday, reaching $37.56. The company’s stock had a trading volume of 495,420 shares, compared to its average volume of 22,834,908. The stock has a market capitalization of $142.37 billion, a P/E ratio of 8.02, a P/E/G ratio of 0.94 and a beta of 1.13. Wells Fargo & Company has a one year low of $36.54 and a one year high of $60.30. The firm’s fifty day simple moving average is $43.55 and its 200 day simple moving average is $49.10. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.95.

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 for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. The firm had revenue of $17.59 billion for the quarter, compared to analyst estimates of $17.82 billion. Wells Fargo & Company had a return on equity of 12.20% and a net margin of 25.35%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period last year, the company earned $1.05 EPS. As a group, equities research analysts forecast that Wells Fargo & Company will post 4.07 earnings per share for the current fiscal year.

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

WFC has been the topic of a number of recent research reports. Raymond James dropped their price objective on Wells Fargo & Company from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, April 18th. Barclays increased their price objective on Wells Fargo & Company from $62.00 to $64.00 in a report on Monday, April 18th. Citigroup raised Wells Fargo & Company from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $58.00 to $56.00 in a report on Monday, April 11th. StockNews.com initiated coverage on Wells Fargo & Company in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Piper Sandler set a $48.00 price objective on Wells Fargo & Company in a report on Monday. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average 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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