Atomi Financial Group Inc. Grows Holdings in Wells Fargo & Company (NYSE:WFC)

Atomi Financial Group Inc. raised its position in Wells Fargo & Company (NYSE:WFC) by 32.6% in the first quarter, Holdings Channel reports. The institutional investor owned 18,376 shares of the financial services provider’s stock after purchasing an additional 4,518 shares during the period. Atomi Financial Group Inc.’s holdings in Wells Fargo & Company were worth $1,065,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WFC. Slagle Financial LLC increased its stake in shares of Wells Fargo & Company by 97.3% during the fourth quarter. Slagle Financial LLC now owns 138,594 shares of the financial services provider’s stock worth $6,822,000 after purchasing an additional 68,356 shares in the last quarter. Ballentine Partners LLC increased its stake in shares of Wells Fargo & Company by 5.4% during the first quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider’s stock worth $2,074,000 after purchasing an additional 1,835 shares in the last quarter. Trust Point Inc. acquired a new position in Wells Fargo & Company during the fourth quarter worth about $2,499,000. Stonegate Investment Group LLC boosted its position in Wells Fargo & Company by 5.2% during the first quarter. Stonegate Investment Group LLC now owns 38,925 shares of the financial services provider’s stock worth $2,256,000 after acquiring an additional 1,911 shares during the last quarter. Finally, Wedmont Private Capital boosted its position in Wells Fargo & Company by 16.4% during the first quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider’s stock worth $8,805,000 after acquiring an additional 21,496 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Citigroup reaffirmed a “neutral” rating and set a $63.00 target price (up from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Evercore ISI reaffirmed an “outperform” rating and set a $67.00 target price (down from $70.00) on shares of Wells Fargo & Company in a research note on Monday. Finally, Compass Point reaffirmed a “neutral” rating and set a $64.00 target price on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Thirteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $59.31.

Wells Fargo & Company Stock Up 2.1 %

Shares of Wells Fargo & Company stock traded up $1.20 during trading hours on Monday, hitting $57.74. The company had a trading volume of 14,476,767 shares, compared to its average volume of 18,400,975. The company’s 50-day moving average is $59.48 and its two-hundred day moving average is $55.87. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market cap of $201.30 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 1.39 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The business had revenue of $20.69 billion during the quarter, compared to analysts’ expectations of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.23%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.25 EPS. Analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is currently 28.75%.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.