Parkside Investments LLC Makes New $843,000 Investment in Wells Fargo & Company (NYSE:WFC)

Parkside Investments LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,000 shares of the financial services provider's stock, valued at approximately $843,000.

A number of other institutional investors also recently modified their holdings of the business. Cardinal Capital Management Inc. increased its position in Wells Fargo & Company by 2.0% during the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider's stock valued at $32,505,000 after purchasing an additional 11,037 shares during the period. Rockefeller Capital Management L.P. raised its position in shares of Wells Fargo & Company by 37.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider's stock worth $36,055,000 after acquiring an additional 173,083 shares in the last quarter. Atlantic Union Bankshares Corp boosted its holdings in shares of Wells Fargo & Company by 17.4% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider's stock worth $10,031,000 after buying an additional 26,320 shares in the last quarter. Chartwell Investment Partners LLC grew its position in shares of Wells Fargo & Company by 16.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider's stock worth $7,504,000 after buying an additional 18,717 shares during the period. Finally, Argus Investors Counsel Inc. lifted its position in shares of Wells Fargo & Company by 34.6% during the 3rd quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider's stock valued at $1,780,000 after acquiring an additional 8,107 shares during the period. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Phillip Securities upgraded Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and raised their target price for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Compass Point increased their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods boosted their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $73.39.

Wells Fargo & Company Stock Performance

NYSE:WFC traded up $0.58 during trading hours on Monday, reaching $77.90. The stock had a trading volume of 7,516,256 shares, compared to its average volume of 15,643,551. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a market cap of $259.37 billion, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $78.30. The stock has a 50 day simple moving average of $73.19 and a 200 day simple moving average of $64.10.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period last year, the firm earned $0.86 EPS. Wells Fargo & Company's revenue for the quarter was down .5% on a year-over-year basis. On average, research analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

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.