Wells Fargo & Company $WFC Position Reduced by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC) by 64.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,269 shares of the financial services provider's stock after selling 57,686 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Wells Fargo & Company were worth $2,531,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in WFC. McElhenny Sheffield Capital Management LLC bought a new position in shares of Wells Fargo & Company in the 2nd quarter worth about $27,000. CBIZ Investment Advisory Services LLC lifted its position in shares of Wells Fargo & Company by 585.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider's stock worth $27,000 after buying an additional 322 shares during the last quarter. Accent Capital Management LLC bought a new position in shares of Wells Fargo & Company in the 1st quarter worth about $29,000. Motco lifted its position in shares of Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider's stock worth $29,000 after buying an additional 326 shares during the last quarter. Finally, Nova Wealth Management Inc. lifted its position in shares of Wells Fargo & Company by 112.9% in the 2nd quarter. Nova Wealth Management Inc. now owns 428 shares of the financial services provider's stock worth $34,000 after buying an additional 227 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Truist Financial raised their price target on shares of Wells Fargo & Company from $86.00 to $88.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Dbs Bank upgraded shares of Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Piper Sandler restated an "overweight" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. UBS Group reduced their price target on shares of Wells Fargo & Company from $95.00 to $93.00 and set a "buy" rating on the stock in a research report on Tuesday, October 7th. Finally, Phillip Securities downgraded shares of Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Nine research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $86.77.

Wells Fargo & Company Trading Up 7.1%

Shares of NYSE:WFC opened at $84.51 on Wednesday. The company has a market cap of $270.71 billion, a PE ratio of 14.47, a P/E/G ratio of 1.27 and a beta of 1.25. The company's 50-day moving average price is $80.79 and its 200 day moving average price is $76.67. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $86.65. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.11. The firm had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. Wells Fargo & Company's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm posted $1.42 EPS. Sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. Wells Fargo & Company's dividend payout ratio is 30.82%.

Wells Fargo & 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.

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