Wells Fargo & Company (NYSE:WFC) Shares Acquired by Pinnacle Bancorp Inc.

Pinnacle Bancorp Inc. lifted its holdings in Wells Fargo & Company (NYSE:WFC) by 38.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,294 shares of the financial services provider’s stock after acquiring an additional 7,822 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Wells Fargo & Company were worth $1,987,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WINTON GROUP Ltd purchased a new stake in Wells Fargo & Company in the 2nd quarter worth approximately $225,000. Edgestream Partners L.P. purchased a new stake in Wells Fargo & Company during the second quarter worth $272,000. E Fund Management Co. Ltd. grew its position in Wells Fargo & Company by 9.7% during the second quarter. E Fund Management Co. Ltd. now owns 21,947 shares of the financial services provider’s stock valued at $1,303,000 after buying an additional 1,944 shares during the period. Meridian Wealth Partners LLC increased its holdings in Wells Fargo & Company by 0.6% in the second quarter. Meridian Wealth Partners LLC now owns 42,449 shares of the financial services provider’s stock valued at $2,521,000 after buying an additional 274 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of Wells Fargo & Company by 16.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 607,195 shares of the financial services provider’s stock worth $34,546,000 after acquiring an additional 86,777 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 6.6 %

NYSE:WFC opened at $75.86 on Thursday. Wells Fargo & Company has a 12-month low of $46.12 and a 12-month high of $78.13. The firm has a market cap of $252.58 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock has a fifty day moving average price of $72.41 and a 200 day moving average price of $63.15.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the previous year, the company posted $0.86 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. Sell-side analysts anticipate that Wells Fargo & Company will post 5.45 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

Analyst Upgrades and Downgrades

WFC has been the subject of several recent analyst reports. Morgan Stanley cut their price target on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. Barclays boosted their price objective on Wells Fargo & Company from $75.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. UBS Group upped their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Evercore ISI lifted their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Truist Financial started coverage on shares of Wells Fargo & Company in a research report on Tuesday, January 7th. They set a “buy” rating and a $82.00 price objective for the company. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.92.

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.