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

Atria Investments Inc lifted its stake in Wells Fargo & Company (NYSE:WFC) by 15.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 264,222 shares of the financial services provider’s stock after buying an additional 35,123 shares during the quarter. Atria Investments Inc’s holdings in Wells Fargo & Company were worth $21,169,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Savvy Advisors Inc. increased its position in shares of Wells Fargo & Company by 34.0% in the second quarter. Savvy Advisors Inc. now owns 17,149 shares of the financial services provider’s stock valued at $1,374,000 after buying an additional 4,356 shares in the last quarter. Assetmark Inc. raised its position in shares of Wells Fargo & Company by 41.7% in the second quarter. Assetmark Inc. now owns 836,797 shares of the financial services provider’s stock valued at $67,044,000 after buying an additional 246,156 shares during the last quarter. Premier Path Wealth Partners LLC raised its holdings in Wells Fargo & Company by 6.8% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 24,959 shares of the financial services provider’s stock valued at $2,000,000 after acquiring an additional 1,593 shares during the last quarter. Buck Wealth Strategies LLC boosted its holdings in shares of Wells Fargo & Company by 21.4% during the 2nd quarter. Buck Wealth Strategies LLC now owns 3,970 shares of the financial services provider’s stock worth $318,000 after purchasing an additional 701 shares during the last quarter. Finally, Arkadios Wealth Advisors grew its holdings in Wells Fargo & Company by 6.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 26,399 shares of the financial services provider’s stock valued at $2,115,000 after buying an additional 1,676 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Barclays lifted their target price on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. 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. Piper Sandler reissued an “overweight” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. The Goldman Sachs Group reduced their target price on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Finally, Truist Financial boosted their price objective on Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company Stock Down 1.0%

Wells Fargo & Company stock opened at $86.02 on Thursday. The company has a market capitalization of $275.56 billion, a P/E ratio of 14.15, a PEG ratio of 1.19 and a beta of 1.25. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $87.47. The stock has a 50-day simple moving average of $82.42 and a 200-day simple moving average of $78.27.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, topping the consensus estimate of $1.55 by $0.11. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. During the same quarter in the previous year, the company posted $1.42 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s payout ratio is 29.61%.

About Wells Fargo & Company

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.