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

Parsons Capital Management Inc. RI raised its holdings in Wells Fargo & Company (NYSE:WFC) by 3.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,931 shares of the financial services provider’s stock after purchasing an additional 177 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Wells Fargo & Company were worth $417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Magnolia Capital Advisors LLC purchased a new stake in Wells Fargo & Company in the 2nd quarter worth about $343,000. Quarry LP bought a new position in shares of Wells Fargo & Company in the second quarter worth $105,000. Advisory Alpha LLC boosted its position in shares of Wells Fargo & Company by 5.2% during the 2nd quarter. Advisory Alpha LLC now owns 5,490 shares of the financial services provider’s stock valued at $326,000 after acquiring an additional 270 shares during the last quarter. 3Chopt Investment Partners LLC lifted its position in Wells Fargo & Company by 2.4% during the second quarter. 3Chopt Investment Partners LLC now owns 45,991 shares of the financial services provider’s stock valued at $2,731,000 after purchasing an additional 1,065 shares during the last quarter. Finally, Founders Financial Alliance LLC grew its stake in Wells Fargo & Company by 5.4% in the 2nd quarter. Founders Financial Alliance LLC now owns 7,350 shares of the financial services provider’s stock worth $437,000 after buying an additional 378 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on WFC. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price objective for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Evercore ISI upped their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Citigroup boosted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. UBS Group raised their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Keefe, Bruyette & Woods boosted their target price on 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. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Trading Up 0.1 %

Shares of WFC opened at $77.99 on Wednesday. Wells Fargo & Company has a 1-year low of $47.45 and a 1-year high of $78.30. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The firm’s 50-day moving average price is $73.26 and its 200-day moving average price is $64.23. The firm has a market capitalization of $259.66 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 1.17 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 EPS. Sell-side analysts anticipate that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Dividend Announcement

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

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.