Pinkerton Wealth LLC Makes New Investment in Wells Fargo & Company $WFC

Pinkerton Wealth LLC purchased a new position in Wells Fargo & Company (NYSE:WFC) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 8,966 shares of the financial services provider’s stock, valued at approximately $718,000.

Other institutional investors also recently modified their holdings of the company. Phillip James Consulting Co. bought a new stake in Wells Fargo & Company during the first quarter worth about $28,000. Security National Bank of Sioux City Iowa IA purchased a new stake in Wells Fargo & Company in the second quarter worth about $28,000. Main Street Group LTD bought a new position in shares of Wells Fargo & Company during the first quarter valued at approximately $29,000. Dunhill Financial LLC bought a new position in shares of Wells Fargo & Company during the second quarter valued at approximately $30,000. Finally, BOK Financial Private Wealth Inc. bought a new position in shares of Wells Fargo & Company during the second quarter valued at approximately $34,000. 75.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Robert W. Baird lifted their target price on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. upped their price target on Wells Fargo & Company from $91.50 to $92.00 and gave the stock a “neutral” rating in a research note on Friday. Keefe, Bruyette & Woods cut their price target on Wells Fargo & Company from $94.00 to $90.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 14th. TD Cowen initiated coverage on Wells Fargo & Company in a research report on Thursday, October 8th. They set a “buy” rating and a $95.00 price objective for the company. Finally, UBS Group lowered their price objective on Wells Fargo & Company from $104.00 to $102.00 and set a “buy” rating for the company in a research note on Monday, October 5th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.11.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $83.39 on Monday. The stock has a market cap of $250.32 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 0.89 and a beta of 0.93. The firm’s 50-day moving average is $84.33 and its 200 day moving average is $83.70. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year high of $97.76. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.89 and a quick ratio of 0.89.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, October 13th. The financial services provider reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02. The business had revenue of $21.87 billion during the quarter, compared to analyst estimates of $22.30 billion. Wells Fargo & Company had a net margin of 17.64% and a return on equity of 14.05%. Wells Fargo & Company’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the business earned $1.66 EPS. Sell-side analysts anticipate that Wells Fargo & Company will post 7.27 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 6th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, November 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. Wells Fargo & Company’s dividend payout ratio is presently 28.21%.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified financial services company that provides banking, lending, investment, and financial management services to individuals, businesses, and institutions. Its offerings include deposit accounts, residential and commercial lending, credit cards, payments, treasury management, and other banking products.

The company also provides wealth and investment management services, including financial planning, brokerage, advisory, and private banking solutions.