Wells Fargo & Company $WFC Shares Bought by Atria Investments Inc

Atria Investments Inc grew its stake in Wells Fargo & Company (NYSE:WFC) by 6.0% in the third quarter, Holdings Channel reports. The fund owned 280,168 shares of the financial services provider’s stock after purchasing an additional 15,946 shares during the period. Atria Investments Inc’s holdings in Wells Fargo & Company were worth $23,484,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Access Investment Management LLC acquired a new stake in Wells Fargo & Company during the second quarter worth about $25,000. Marquette Asset Management LLC increased its holdings in shares of Wells Fargo & Company by 472.4% during the 3rd quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock worth $28,000 after buying an additional 274 shares during the last quarter. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at approximately $30,000. Kilter Group LLC acquired a new position in Wells Fargo & Company in the second quarter valued at approximately $31,000. Finally, Aventus Investment Advisors Inc. purchased a new position in Wells Fargo & Company in the third quarter worth approximately $37,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wolfe Research reissued an “outperform” rating and set a $109.00 target price on shares of Wells Fargo & Company in a research note on Wednesday, January 7th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a report on Wednesday, January 21st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $100.00 target price on shares of Wells Fargo & Company in a research note on Thursday, January 15th. CICC Research assumed coverage on shares of Wells Fargo & Company in a research note on Wednesday, January 14th. They issued a “market perform” rating and a $96.00 price target on the stock. Finally, Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Thirteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average price target of $97.29.

Wells Fargo & Company Trading Down 3.1%

NYSE WFC opened at $89.08 on Thursday. The firm’s fifty day moving average price is $91.94 and its 200 day moving average price is $85.85. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $97.76. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.84. The company has a market capitalization of $279.63 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 1.01 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.10. The company had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. Wells Fargo & Company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.43 earnings per share. On average, sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 6th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, February 6th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 28.71%.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.