Atomi Financial Group Inc. Has $1.07 Million Position in Wells Fargo & Company (NYSE:WFC)

Atomi Financial Group Inc. increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 32.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Arlington Trust Co LLC bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at $25,000. Core Wealth Advisors Inc. bought a new stake in Wells Fargo & Company during the 4th quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. grew its position in Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 356,620 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new stake in Wells Fargo & Company during the 4th quarter worth $29,000. Finally, Wetzel Investment Advisors Inc. bought a new stake in Wells Fargo & Company during the 4th quarter worth $32,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Compass Point reaffirmed a “neutral” rating and set a $64.00 target price on shares of Wells Fargo & Company in a report on Tuesday, April 9th. BMO Capital Markets lifted their target price on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday. Morgan Stanley lifted their target price on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, 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 report on Monday. Thirteen analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and a consensus target price of $59.31.

Wells Fargo & Company Stock Up 2.1 %

WFC traded up $1.20 during midday trading on Monday, reaching $57.74. 14,476,767 shares of the company were exchanged, compared to its average volume of 18,400,975. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The company’s fifty day moving average price is $59.48 and its 200 day moving average price is $55.87. The company has a market cap of $201.30 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 1.39 and a beta of 1.17. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a return on equity of 12.23% and a net margin of 15.17%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 EPS. As a group, analysts expect that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Announces Dividend

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

Wells Fargo & Company Profile

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.