Parsons Capital Management Inc. RI Buys 177 Shares of Wells Fargo & Company (NYSE:WFC)

Parsons Capital Management Inc. RI boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,931 shares of the financial services provider’s stock after buying an additional 177 shares during the period. Parsons Capital Management Inc. RI’s holdings in Wells Fargo & Company were worth $417,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WFC. West Wealth Group LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth $232,000. Parkside Investments LLC bought a new position in Wells Fargo & Company in the 4th quarter worth about $843,000. McLean Asset Management Corp purchased a new stake in Wells Fargo & Company during the 4th quarter valued at about $202,000. Webster Bank N. A. increased its stake in Wells Fargo & Company by 4.4% during the 4th quarter. Webster Bank N. A. now owns 10,319 shares of the financial services provider’s stock valued at $725,000 after purchasing an additional 431 shares in the last quarter. Finally, Pacer Advisors Inc. raised its holdings in Wells Fargo & Company by 72.5% in the fourth quarter. Pacer Advisors Inc. now owns 435,306 shares of the financial services provider’s stock worth $30,576,000 after buying an additional 182,920 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

WFC has been the subject of several analyst reports. Barclays raised their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Citigroup boosted their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Morgan Stanley increased their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research report on Tuesday, October 8th. Finally, Compass Point raised their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus price target of $73.39.

Get Our Latest Stock Report on WFC

Wells Fargo & Company Stock Up 0.1 %

NYSE WFC opened at $77.99 on Wednesday. The stock’s 50-day moving average price is $73.26 and its 200-day moving average price is $64.23. The company has a market capitalization of $259.66 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 52 week low of $47.45 and a 52 week high of $78.30.

Wells Fargo & Company (NYSE:WFCGet Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.86 earnings per share. On average, equities research analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.05%. Wells Fargo & Company’s payout ratio is 29.74%.

About Wells Fargo & Company

(Free Report)

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.

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

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