Parkside Financial Bank & Trust Lowers Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Parkside Financial Bank & Trust reduced its position in Wells Fargo & Company (NYSE:WFCGet Rating) by 27.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,522 shares of the financial services provider’s stock after selling 1,735 shares during the period. Parkside Financial Bank & Trust’s holdings in Wells Fargo & Company were worth $178,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in WFC. Norges Bank purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $1,566,470,000. Capital World Investors grew its stake in shares of Wells Fargo & Company by 73.9% during the 1st quarter. Capital World Investors now owns 53,857,384 shares of the financial services provider’s stock valued at $2,609,929,000 after buying an additional 22,890,585 shares during the period. Renaissance Technologies LLC grew its stake in shares of Wells Fargo & Company by 1,478.6% during the 1st quarter. Renaissance Technologies LLC now owns 8,390,611 shares of the financial services provider’s stock valued at $406,609,000 after buying an additional 7,859,100 shares during the period. Ontario Teachers Pension Plan Board purchased a new stake in shares of Wells Fargo & Company during the 1st quarter valued at $345,861,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Wells Fargo & Company by 5,232.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,211,291 shares of the financial services provider’s stock valued at $155,619,000 after buying an additional 3,151,066 shares during the period. 72.23% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $42.27 on Thursday. The firm has a market capitalization of $160.33 billion, a P/E ratio of 10.14, a P/E/G ratio of 1.06 and a beta of 1.16. The company’s fifty day moving average price is $43.82 and its two-hundred day moving average price is $44.49. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.80. Wells Fargo & Company has a 12 month low of $36.54 and a 12 month high of $60.30.

Wells Fargo & Company (NYSE:WFCGet Rating) last released its quarterly earnings data on Friday, July 15th. The financial services provider reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.03). The business had revenue of $17.03 billion for the quarter, compared to analyst estimates of $17.54 billion. Wells Fargo & Company had a return on equity of 10.67% and a net margin of 22.52%. Wells Fargo & Company’s revenue was down 16.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.38 EPS. On average, research analysts anticipate that Wells Fargo & Company will post 4 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 5th were given a $0.30 dividend. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $1.20 annualized dividend and a yield of 2.84%. Wells Fargo & Company’s dividend payout ratio is 28.78%.

Analyst Ratings Changes

WFC has been the subject of several research reports. Raymond James lowered their price objective on shares of Wells Fargo & Company from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, June 24th. Citigroup decreased their price target on shares of Wells Fargo & Company from $56.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, July 12th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Wells Fargo & Company from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, September 12th. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $59.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, July 18th. Finally, Barclays decreased their price target on shares of Wells Fargo & Company from $64.00 to $58.00 and set an “overweight” rating for the company in a research report on Monday, July 18th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average target price of $55.97.

Wells Fargo & Company Profile

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

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

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