Parkside Financial Bank & Trust Boosts Stake in Wells Fargo & Company (NYSE:WFC)

Parkside Financial Bank & Trust lifted its holdings in Wells Fargo & Company (NYSE:WFC) by 14.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 11,233 shares of the financial services provider’s stock after purchasing an additional 1,433 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Wells Fargo & Company were worth $553,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Summit Global Investments boosted its position in Wells Fargo & Company by 6.3% during the third quarter. Summit Global Investments now owns 5,753 shares of the financial services provider’s stock worth $235,000 after purchasing an additional 343 shares in the last quarter. Impact Partnership Wealth LLC acquired a new position in shares of Wells Fargo & Company in the third quarter worth $34,000. Fifth Third Wealth Advisors LLC raised its holdings in shares of Wells Fargo & Company by 30.0% in the third quarter. Fifth Third Wealth Advisors LLC now owns 10,194 shares of the financial services provider’s stock worth $417,000 after acquiring an additional 2,350 shares during the last quarter. BTC Capital Management Inc. raised its holdings in shares of Wells Fargo & Company by 0.7% in the third quarter. BTC Capital Management Inc. now owns 155,788 shares of the financial services provider’s stock worth $6,365,000 after acquiring an additional 1,147 shares during the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE raised its holdings in shares of Wells Fargo & Company by 1.1% in the third quarter. Lawson Kroeker Investment Management Inc. NE now owns 74,614 shares of the financial services provider’s stock worth $3,049,000 after acquiring an additional 828 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Morgan Stanley boosted their price target on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Odeon Capital Group lowered Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 target price for the company. in a research note on Thursday, January 18th. HSBC upped their target price on Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Compass Point reiterated a “neutral” rating and issued a $64.00 target price on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Finally, Jefferies Financial Group upped their target price on Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Thirteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and an average price target of $58.85.

Wells Fargo & Company Stock Down 0.3 %

NYSE WFC traded down $0.16 during mid-day trading on Tuesday, reaching $60.94. 13,528,507 shares of the company’s stock traded hands, compared to its average volume of 18,928,422. Wells Fargo & Company has a 1-year low of $36.40 and a 1-year high of $61.76. The company has a fifty day simple moving average of $56.12 and a 200-day simple moving average of $49.12. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The company has a market cap of $215.75 billion, a price-to-earnings ratio of 12.85, a P/E/G ratio of 1.17 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter last year, the business posted $1.23 EPS. Wells Fargo & Company’s quarterly revenue was up .6% compared to the same quarter last year. As a group, equities research analysts expect that Wells Fargo & Company will post 5.06 EPS for the current year.

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.