Wells Fargo & Company (NYSE:WFC) Stock Holdings Lowered by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. lowered its stake in Wells Fargo & Company (NYSE:WFC) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 14,866 shares of the financial services provider’s stock after selling 288 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Wells Fargo & Company were worth $1,044,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Truvestments Capital LLC acquired a new stake in Wells Fargo & Company in the third quarter worth about $29,000. Modus Advisors LLC acquired a new stake in Wells Fargo & Company in the fourth quarter worth about $30,000. McClarren Financial Advisors Inc. acquired a new stake in Wells Fargo & Company in the fourth quarter worth about $30,000. Decker Retirement Planning Inc. acquired a new stake in Wells Fargo & Company in the fourth quarter worth about $32,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Wells Fargo & Company in the third quarter worth about $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on WFC shares. UBS Group upped their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Citigroup raised their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Compass Point boosted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. The Goldman Sachs Group increased their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Truist Financial lifted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $74.20 on Thursday. The company’s fifty day moving average is $76.08 and its two-hundred day moving average is $68.28. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The company has a market cap of $243.97 billion, a P/E ratio of 13.79, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the previous year, the company posted $0.86 EPS. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. Equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

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.