Pinnacle Wealth Management Advisory Group LLC Has $603,000 Holdings in Wells Fargo & Company (NYSE:WFC)

Pinnacle Wealth Management Advisory Group LLC increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 12,252 shares of the financial services provider’s stock after purchasing an additional 246 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Wells Fargo & Company were worth $603,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stoneridge Investment Partners LLC lifted its stake in Wells Fargo & Company by 410.5% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock valued at $2,757,000 after purchasing an additional 54,262 shares during the last quarter. United Services Automobile Association increased its holdings in shares of Wells Fargo & Company by 13.7% during the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock worth $4,000,000 after acquiring an additional 11,825 shares during the last quarter. Synovus Financial Corp raised its stake in Wells Fargo & Company by 61.7% in the 3rd quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock valued at $4,983,000 after acquiring an additional 46,525 shares during the period. Trust Point Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter valued at $2,499,000. Finally, WealthPlan Investment Management LLC boosted its position in Wells Fargo & Company by 2,174.3% during the third quarter. WealthPlan Investment Management LLC now owns 21,287 shares of the financial services provider’s stock worth $870,000 after purchasing an additional 20,351 shares during the period. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Trading Up 1.6 %

NYSE:WFC traded up $0.97 during mid-day trading on Wednesday, hitting $61.23. 18,626,876 shares of the company’s stock were exchanged, compared to its average volume of 18,897,705. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a fifty-two week low of $37.18 and a fifty-two week high of $61.76. The company has a 50 day simple moving average of $57.86 and a 200-day simple moving average of $50.62. The firm has a market capitalization of $213.47 billion, a P/E ratio of 12.78, a PEG ratio of 1.16 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. Wells Fargo & Company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.23 earnings per share. As a group, research analysts expect that Wells Fargo & Company will post 5.08 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.29%. Wells Fargo & Company’s payout ratio is 29.23%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on WFC shares. HSBC increased their price objective on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Morgan Stanley increased their target price on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Citigroup restated a “neutral” rating and issued a $63.00 price target (up from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Finally, Piper Sandler lowered their price objective on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 16th. Fourteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $58.99.

Wells Fargo & Company Company Profile

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