Atria Investments Inc Buys 7,752 Shares of Wells Fargo & Company (NYSE:WFC)

Atria Investments Inc grew its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 229,099 shares of the financial services provider's stock after purchasing an additional 7,752 shares during the quarter. Atria Investments Inc's holdings in Wells Fargo & Company were worth $16,447,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in WFC. Shakespeare Wealth Management LLC grew its holdings in Wells Fargo & Company by 0.9% in the 4th quarter. Shakespeare Wealth Management LLC now owns 13,839 shares of the financial services provider's stock worth $972,000 after buying an additional 130 shares in the last quarter. Safeguard Investment Advisory Group LLC boosted its stake in Wells Fargo & Company by 2.4% during the 4th quarter. Safeguard Investment Advisory Group LLC now owns 5,839 shares of the financial services provider's stock valued at $410,000 after purchasing an additional 137 shares in the last quarter. Summit Wealth & Retirement Planning Inc. boosted its stake in Wells Fargo & Company by 4.3% during the 1st quarter. Summit Wealth & Retirement Planning Inc. now owns 3,362 shares of the financial services provider's stock valued at $241,000 after purchasing an additional 139 shares in the last quarter. Nwam LLC boosted its stake in Wells Fargo & Company by 1.6% during the 1st quarter. Nwam LLC now owns 8,806 shares of the financial services provider's stock valued at $632,000 after purchasing an additional 142 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC boosted its stake in Wells Fargo & Company by 0.6% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 22,501 shares of the financial services provider's stock valued at $1,580,000 after purchasing an additional 144 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Up 0.4%

Shares of NYSE:WFC traded up $0.38 during midday trading on Friday, hitting $84.25. 14,071,803 shares of the stock were exchanged, compared to its average volume of 19,653,194. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $84.83. The business's fifty day simple moving average is $77.86 and its two-hundred day simple moving average is $74.59. The company has a market capitalization of $274.15 billion, a PE ratio of 14.43, a P/E/G ratio of 1.30 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%. The business had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. During the same period last year, the company earned $1.33 earnings per share. Wells Fargo & Company's quarterly revenue was up .6% compared to the same quarter last year. As a group, research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company declared that its board has authorized a stock buyback plan on Tuesday, April 29th that authorizes the company to buyback $40.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 17.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 9th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, May 9th. This represents a $1.60 annualized dividend and a yield of 1.90%. Wells Fargo & Company's dividend payout ratio (DPR) is currently 27.40%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Barclays decreased their price target on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Piper Sandler reaffirmed an "overweight" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. JPMorgan Chase & Co. reduced their price objective on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Phillip Securities lowered Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Finally, Morgan Stanley raised their price objective on Wells Fargo & Company from $77.00 to $87.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $80.39.

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.