Pinnacle Wealth Management Advisory Group LLC boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 6.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,476 shares of the financial services provider’s stock after acquiring an additional 1,967 shares during the quarter. Wells Fargo & accounts for about 1.1% of Pinnacle Wealth Management Advisory Group LLC’s investment portfolio, making the stock its 25th biggest position. Pinnacle Wealth Management Advisory Group LLC’s holdings in Wells Fargo & were worth $1,799,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WFC. Winch Advisory Services LLC grew its stake in Wells Fargo & by 0.7% during the first quarter. Winch Advisory Services LLC now owns 2,756 shares of the financial services provider’s stock worth $153,000 after buying an additional 18 shares during the last quarter. Jackson Grant Investment Advisers Inc. grew its stake in Wells Fargo & by 0.5% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 4,928 shares of the financial services provider’s stock worth $274,000 after buying an additional 24 shares during the last quarter. Keystone Financial Planning Inc. grew its stake in Wells Fargo & by 0.6% during the first quarter. Keystone Financial Planning Inc. now owns 6,755 shares of the financial services provider’s stock worth $376,000 after buying an additional 39 shares during the last quarter. Financial Advisory Service Inc. grew its stake in Wells Fargo & by 0.6% during the second quarter. Financial Advisory Service Inc. now owns 7,067 shares of the financial services provider’s stock worth $392,000 after buying an additional 42 shares during the last quarter. Finally, Country Club Trust Company n.a. grew its stake in Wells Fargo & by 0.3% during the second quarter. Country Club Trust Company n.a. now owns 16,742 shares of the financial services provider’s stock worth $927,000 after buying an additional 47 shares during the last quarter. 75.86% of the stock is currently owned by institutional investors and hedge funds.

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WFC has been the topic of several research analyst reports. Vetr raised shares of Wells Fargo & to a “strong-buy” rating in a research note on Thursday, September 7th. Berenberg Bank cut shares of Wells Fargo & from a “hold” rating to a “sell” rating and upped their price objective for the stock from $35.00 to $45.00 in a research note on Friday, July 21st. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Wells Fargo & in a research note on Wednesday, October 11th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Wells Fargo & in a research note on Wednesday, August 16th. Finally, Robert W. Baird reiterated a “buy” rating and set a $58.00 target price on shares of Wells Fargo & in a research report on Tuesday, September 5th. Six equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Wells Fargo & currently has a consensus rating of “Hold” and an average price target of $57.20.

Shares of Wells Fargo & Company (NYSE WFC) opened at $54.04 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32. Wells Fargo & Company has a 12-month low of $49.27 and a 12-month high of $59.99. The stock has a market cap of $266,300.00, a price-to-earnings ratio of 13.00, a PEG ratio of 1.29 and a beta of 0.97.

Wells Fargo & (NYSE:WFC) last issued its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). Wells Fargo & had a return on equity of 12.59% and a net margin of 22.00%. The company had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $22.30 billion. During the same period in the prior year, the company earned $1.03 EPS. The firm’s revenue was down 1.8% on a year-over-year basis. research analysts expect that Wells Fargo & Company will post 3.97 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 3rd will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, November 2nd. Wells Fargo &’s dividend payout ratio is 40.31%.

Wells Fargo & Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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Institutional Ownership by Quarter for Wells Fargo & (NYSE:WFC)

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