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

Parkside Financial Bank & Trust raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 6.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,114 shares of the financial services provider’s stock after buying an additional 791 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Wells Fargo & Company were worth $1,051,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Freemont Management S.A. raised its holdings in shares of Wells Fargo & Company by 30.6% during the second quarter. Freemont Management S.A. now owns 37,100 shares of the financial services provider’s stock valued at $2,972,000 after acquiring an additional 8,700 shares during the period. Keystone Financial Services boosted its stake in Wells Fargo & Company by 2.4% in the 2nd quarter. Keystone Financial Services now owns 17,800 shares of the financial services provider’s stock worth $1,426,000 after purchasing an additional 419 shares during the period. Cypress Capital Management LLC WY acquired a new position in Wells Fargo & Company in the 2nd quarter worth approximately $56,000. Aviva PLC grew its position in Wells Fargo & Company by 33.1% during the 2nd quarter. Aviva PLC now owns 2,437,984 shares of the financial services provider’s stock worth $195,331,000 after purchasing an additional 606,950 shares in the last quarter. Finally, BHK Investment Advisors LLC purchased a new position in Wells Fargo & Company during the 2nd quarter worth approximately $212,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

WFC opened at $86.05 on Friday. The stock has a market cap of $270.11 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 1.18 and a beta of 1.22. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $88.50. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The stock has a fifty day moving average price of $83.25 and a 200 day moving average price of $79.36.

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

Wells Fargo & Company Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WFC. Morgan Stanley increased their target price on Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. Barclays upped their price target on Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Keefe, Bruyette & Woods increased their price objective on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 15th. TD Cowen raised their price objective on Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. Finally, Cfra Research raised Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.57.

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.