Parkside Advisors LLC Invests $212,000 in Wells Fargo & Company $WFC

Parkside Advisors LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,644 shares of the financial services provider’s stock, valued at approximately $212,000.

Several other large investors also recently made changes to their positions in the stock. Czech National Bank boosted its stake in shares of Wells Fargo & Company by 5.3% during the 2nd quarter. Czech National Bank now owns 795,437 shares of the financial services provider’s stock worth $63,730,000 after acquiring an additional 40,027 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Wells Fargo & Company by 2,735,254.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after acquiring an additional 949,735,001 shares in the last quarter. Svenska Handelsbanken AB publ acquired a new position in shares of Wells Fargo & Company in the 2nd quarter worth approximately $10,688,000. Sandy Cove Advisors LLC raised its holdings in shares of Wells Fargo & Company by 17.0% in the 2nd quarter. Sandy Cove Advisors LLC now owns 3,314 shares of the financial services provider’s stock worth $266,000 after buying an additional 481 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in Wells Fargo & Company by 1.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 29,263 shares of the financial services provider’s stock worth $2,345,000 after acquiring an additional 462 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC stock opened at $81.47 on Tuesday. The stock has a market capitalization of $260.98 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 1.27 and a beta of 1.25. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. Wells Fargo & Company has a 1 year low of $52.81 and a 1 year high of $84.83. The company’s 50-day moving average is $80.37 and its 200-day moving average is $75.16.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. The business had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.33 EPS. Equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were paid a dividend of $0.45 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 30.82%.

Analyst Ratings Changes

Several research analysts have weighed in on WFC shares. Truist Financial lifted their target price on Wells Fargo & Company from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. The Goldman Sachs Group lowered their target price on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Cowen reaffirmed a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Finally, Citigroup reissued a “neutral” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.56.

Wells Fargo & Company 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.