Parkside Financial Bank & Trust Has $1.05 Million Stake in Wells Fargo & Company $WFC

Parkside Financial Bank & Trust raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 6.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 13,114 shares of the financial services provider’s stock after acquiring an additional 791 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Wells Fargo & Company were worth $1,051,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Access Investment Management LLC bought a new position in shares of Wells Fargo & Company in the 2nd quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC boosted its position in Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 322 shares during the period. McElhenny Sheffield Capital Management LLC bought a new stake in Wells Fargo & Company during the second quarter worth approximately $27,000. Motco grew its holdings in Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 326 shares during the last quarter. Finally, Accent Capital Management LLC acquired a new position in Wells Fargo & Company during the first quarter valued at approximately $29,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $86.05 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. Wells Fargo & Company has a one year low of $58.42 and a one year high of $88.50. The company has a fifty day moving average price of $83.25 and a 200 day moving average price of $79.36. The stock has a market cap of $270.11 billion, a P/E ratio of 14.15, a PEG ratio of 1.18 and a beta of 1.22.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.11. The company had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.42 EPS. Analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.80 annualized dividend and a yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is 29.61%.

Wall Street Analyst Weigh In

WFC has been the subject of a number of analyst reports. Bank of America boosted their price objective on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a report on Wednesday, October 15th. UBS Group cut their target price on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Weiss Ratings upgraded shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, October 8th. Finally, Citigroup lifted their price objective on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company 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.