Atlas Legacy Advisors LLC Purchases New Holdings in Wells Fargo & Company (NYSE:WFC)

Atlas Legacy Advisors LLC purchased a new position in Wells Fargo & Company (NYSE:WFC - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,486 shares of the financial services provider's stock, valued at approximately $245,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Two Sigma Advisers LP increased its holdings in shares of Wells Fargo & Company by 730.4% in the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider's stock valued at $336,375,000 after acquiring an additional 5,237,500 shares during the last quarter. Canoe Financial LP bought a new stake in Wells Fargo & Company during the third quarter valued at $160,529,000. Caisse DE Depot ET Placement DU Quebec increased its stake in Wells Fargo & Company by 158.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider's stock valued at $153,069,000 after purchasing an additional 1,659,716 shares during the last quarter. Artemis Investment Management LLP raised its holdings in shares of Wells Fargo & Company by 410.8% during the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider's stock worth $96,567,000 after purchasing an additional 1,105,679 shares during the period. Finally, National Pension Service lifted its position in shares of Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider's stock worth $383,532,000 after buying an additional 897,195 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of WFC traded down $1.66 during midday trading on Thursday, reaching $78.69. The stock had a trading volume of 14,800,325 shares, compared to its average volume of 15,174,527. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market capitalization of $262.00 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.21 and a beta of 1.18. The firm's 50 day moving average price is $74.90 and its 200-day moving average price is $66.64. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion for the quarter, compared to analysts' expectations of $20.58 billion. During the same period in the previous year, the business earned $0.86 earnings per share. Wells Fargo & Company's revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company's dividend payout ratio is presently 29.74%.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of recent research reports. 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 research report on Friday, December 6th. Barclays increased their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Morgan Stanley upped their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Citigroup raised their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a "neutral" rating in a research note on Tuesday, November 19th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Wells Fargo & Company has an average rating of "Hold" and an average price target of $73.39.

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.