Atlas Legacy Advisors LLC Invests $245,000 in Wells Fargo & Company (NYSE:WFC)

Atlas Legacy Advisors LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,486 shares of the financial services provider’s stock, valued at approximately $245,000.

Several other institutional investors also recently modified their holdings of WFC. Foundations Investment Advisors LLC boosted its holdings in shares of Wells Fargo & Company by 5.8% during the 3rd quarter. Foundations Investment Advisors LLC now owns 21,483 shares of the financial services provider’s stock worth $1,214,000 after buying an additional 1,179 shares during the period. Eastern Bank bought a new stake in shares of Wells Fargo & Company during the 3rd quarter worth about $790,000. Community Trust & Investment Co. boosted its holdings in shares of Wells Fargo & Company by 35.3% during the 3rd quarter. Community Trust & Investment Co. now owns 6,248 shares of the financial services provider’s stock worth $353,000 after buying an additional 1,629 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in shares of Wells Fargo & Company by 2.8% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 943,615 shares of the financial services provider’s stock worth $53,305,000 after buying an additional 25,881 shares during the period. Finally, Meadow Creek Wealth Advisors LLC bought a new stake in shares of Wells Fargo & Company during the 3rd quarter worth about $202,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

WFC stock opened at $80.38 on Thursday. The company has a 50 day simple moving average of $74.90 and a 200 day simple moving average of $66.64. The stock has a market cap of $267.63 billion, a price-to-earnings ratio of 14.94, a P/E/G ratio of 1.20 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 EPS. Research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is 29.74%.

Wall Street Analyst Weigh In

WFC has been the subject of several research analyst reports. Barclays lifted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Compass Point boosted their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. The Goldman Sachs Group boosted their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. UBS Group boosted their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Truist Financial boosted their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and an average target price of $73.39.

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.