Wells Fargo & Co (NYSE:WFC) Shares Bought by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust grew its position in shares of Wells Fargo & Co (NYSE:WFC) by 64.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 22,033 shares of the financial services provider’s stock after purchasing an additional 8,659 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Wells Fargo & Co were worth $1,111,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Bath Savings Trust Co boosted its stake in shares of Wells Fargo & Co by 7.4% during the 2nd quarter. Bath Savings Trust Co now owns 4,529 shares of the financial services provider’s stock worth $214,000 after acquiring an additional 312 shares in the last quarter. Thomasville National Bank boosted its stake in shares of Wells Fargo & Co by 1.3% during the 2nd quarter. Thomasville National Bank now owns 53,713 shares of the financial services provider’s stock worth $2,542,000 after acquiring an additional 714 shares in the last quarter. Bright Rock Capital Management LLC boosted its stake in shares of Wells Fargo & Co by 19.5% during the 2nd quarter. Bright Rock Capital Management LLC now owns 208,215 shares of the financial services provider’s stock worth $9,853,000 after acquiring an additional 34,000 shares in the last quarter. Beese Fulmer Investment Management Inc. boosted its position in shares of Wells Fargo & Co by 1.8% in the second quarter. Beese Fulmer Investment Management Inc. now owns 107,828 shares of the financial services provider’s stock worth $5,102,000 after buying an additional 1,925 shares during the period. Finally, Rockland Trust Co. boosted its position in shares of Wells Fargo & Co by 8.7% in the second quarter. Rockland Trust Co. now owns 409,345 shares of the financial services provider’s stock worth $19,370,000 after buying an additional 32,697 shares during the period. Institutional investors own 75.13% of the company’s stock.

Several analysts have recently commented on WFC shares. ValuEngine raised Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Tuesday, October 15th. Credit Suisse Group raised their target price on Wells Fargo & Co from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Deutsche Bank set a $44.00 target price on Wells Fargo & Co and gave the stock a “hold” rating in a research report on Friday, July 26th. Macquarie cut Wells Fargo & Co from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $54.00 to $47.00 in a research report on Wednesday, July 17th. Finally, UBS Group cut Wells Fargo & Co from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $51.00 to $49.00 in a research report on Tuesday, September 10th. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $49.75.

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WFC traded up $0.10 during trading on Friday, reaching $54.10. 14,545,399 shares of the stock traded hands, compared to its average volume of 20,816,832. The stock has a market cap of $225.42 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 1.11 and a beta of 1.11. Wells Fargo & Co has a fifty-two week low of $43.02 and a fifty-two week high of $55.04. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.85. The stock’s 50-day simple moving average is $50.39 and its two-hundred day simple moving average is $47.60.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.23). The firm had revenue of $22.01 billion for the quarter, compared to analyst estimates of $21.32 billion. Wells Fargo & Co had a net margin of 21.67% and a return on equity of 13.01%. Wells Fargo & Co’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the business posted $1.13 EPS. Research analysts anticipate that Wells Fargo & Co will post 4.5 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.04 dividend on an annualized basis and a yield of 3.77%. Wells Fargo & Co’s payout ratio is 46.58%.

Wells Fargo & Co announced that its board has initiated a share repurchase plan on Tuesday, July 23rd that permits the company to buyback 350,000,000 shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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