Parkside Financial Bank & Trust Has $705,000 Stake in Wells Fargo & Company (NYSE:WFC)

Parkside Financial Bank & Trust grew its position in Wells Fargo & Company (NYSE:WFC) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,864 shares of the financial services provider’s stock after purchasing an additional 288 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Wells Fargo & Company were worth $705,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Slagle Financial LLC grew its holdings in Wells Fargo & Company by 97.3% during the 4th quarter. Slagle Financial LLC now owns 138,594 shares of the financial services provider’s stock worth $6,822,000 after acquiring an additional 68,356 shares during the period. Ballentine Partners LLC increased its holdings in Wells Fargo & Company by 5.4% in the first quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider’s stock worth $2,074,000 after purchasing an additional 1,835 shares in the last quarter. Wedmont Private Capital lifted its stake in Wells Fargo & Company by 16.4% in the first quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider’s stock valued at $8,805,000 after buying an additional 21,496 shares during the period. Quadrant Capital Group LLC grew its position in shares of Wells Fargo & Company by 61.7% during the 4th quarter. Quadrant Capital Group LLC now owns 41,268 shares of the financial services provider’s stock worth $2,031,000 after buying an additional 15,742 shares during the period. Finally, Pacific Global Investment Management Co. increased its stake in shares of Wells Fargo & Company by 13.4% in the 4th quarter. Pacific Global Investment Management Co. now owns 13,680 shares of the financial services provider’s stock valued at $673,000 after acquiring an additional 1,620 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock traded down $1.78 during mid-day trading on Friday, hitting $55.08. 4,475,755 shares of the stock were exchanged, compared to its average volume of 17,697,830. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55. The company has a 50-day simple moving average of $57.42 and a 200 day simple moving average of $57.87. The company has a market capitalization of $192.03 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.43 and a beta of 1.17. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. Wells Fargo & Company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the company posted $1.25 earnings per share. Sell-side analysts anticipate that Wells Fargo & Company will post 5.15 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were issued a $0.40 dividend. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s payout ratio is 32.85%.

Analysts Set New Price Targets

Several brokerages recently issued reports on WFC. Keefe, Bruyette & Woods cut their target price on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research note on Monday, July 15th. Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. BMO Capital Markets boosted their target price on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Tuesday. Finally, Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and decreased their price objective for the company from $62.00 to $59.00 in a report on Friday, August 16th. Twelve equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and an average target price of $60.29.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.