Wells Fargo & Co (WFC) Position Boosted by Pratt Collard Advisory Partners LLC

Pratt Collard Advisory Partners LLC increased its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 13.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,490 shares of the financial services provider’s stock after acquiring an additional 1,825 shares during the quarter. Pratt Collard Advisory Partners LLC’s holdings in Wells Fargo & Co were worth $859,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Old Mutual Global Investors UK Ltd. raised its position in Wells Fargo & Co by 15.6% during the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 57,755 shares of the financial services provider’s stock valued at $3,503,000 after purchasing an additional 7,802 shares in the last quarter. New Mexico Educational Retirement Board raised its position in Wells Fargo & Co by 4.5% during the fourth quarter. New Mexico Educational Retirement Board now owns 429,366 shares of the financial services provider’s stock valued at $26,050,000 after purchasing an additional 18,600 shares in the last quarter. Pinnacle Financial Partners Inc. raised its position in Wells Fargo & Co by 13.6% during the fourth quarter. Pinnacle Financial Partners Inc. now owns 170,882 shares of the financial services provider’s stock valued at $10,367,000 after purchasing an additional 20,475 shares in the last quarter. BSW Wealth Partners purchased a new stake in Wells Fargo & Co during the fourth quarter valued at about $255,000. Finally, CNA Financial Corp raised its position in Wells Fargo & Co by 28.6% during the fourth quarter. CNA Financial Corp now owns 42,147 shares of the financial services provider’s stock valued at $2,557,000 after purchasing an additional 9,377 shares in the last quarter. Hedge funds and other institutional investors own 75.77% of the company’s stock.

In related news, EVP Hope A. Hardison sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $58.01, for a total value of $1,450,250.00. Following the completion of the transaction, the executive vice president now directly owns 109 shares in the company, valued at approximately $6,323.09. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Avid Modjtabai sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $58.71, for a total transaction of $5,871,000.00. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

WFC has been the topic of a number of research reports. Morgan Stanley upgraded Wells Fargo & Co from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $57.00 to $62.00 in a research report on Monday, July 2nd. Zacks Investment Research downgraded Wells Fargo & Co from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Susquehanna Bancshares set a $63.00 price target on Wells Fargo & Co and gave the company a “hold” rating in a research report on Friday, July 13th. Finally, Keefe, Bruyette & Woods upgraded Wells Fargo & Co from a “market perform” rating to an “outperform” rating and raised their price target for the company from $57.00 to $63.00 in a research report on Sunday, July 15th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $63.34.

Shares of WFC traded up $0.02 during mid-day trading on Friday, reaching $58.48. The company had a trading volume of 16,720,200 shares, compared to its average volume of 20,366,260. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.22. Wells Fargo & Co has a 52 week low of $49.27 and a 52 week high of $66.31. The stock has a market cap of $288.13 billion, a P/E ratio of 14.23, a P/E/G ratio of 1.60 and a beta of 1.13.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings results on Friday, July 13th. The financial services provider reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.04). Wells Fargo & Co had a return on equity of 12.38% and a net margin of 22.03%. The company had revenue of $21.55 billion during the quarter, compared to the consensus estimate of $21.52 billion. equities analysts anticipate that Wells Fargo & Co will post 4.56 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, September 1st. Stockholders of record on Friday, August 10th will be given a $0.43 dividend. This is a boost from Wells Fargo & Co’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Thursday, August 9th. Wells Fargo & Co’s payout ratio is currently 41.85%.

About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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