Arbor Investment Advisors LLC Acquires Shares of 5,507 Wells Fargo & Company $WFC

Arbor Investment Advisors LLC bought a new position in Wells Fargo & Company (NYSE:WFC) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,507 shares of the financial services provider’s stock, valued at approximately $462,000.

Other large investors have also recently made changes to their positions in the company. Embree Financial Group lifted its holdings in Wells Fargo & Company by 3.9% during the 3rd quarter. Embree Financial Group now owns 3,330 shares of the financial services provider’s stock valued at $279,000 after buying an additional 126 shares in the last quarter. Trust Co. of Vermont grew its stake in Wells Fargo & Company by 1.1% in the 3rd quarter. Trust Co. of Vermont now owns 12,098 shares of the financial services provider’s stock worth $1,014,000 after acquiring an additional 126 shares in the last quarter. Traphagen Investment Advisors LLC grew its stake in Wells Fargo & Company by 2.0% in the 3rd quarter. Traphagen Investment Advisors LLC now owns 6,346 shares of the financial services provider’s stock worth $532,000 after acquiring an additional 127 shares in the last quarter. Wealth Management Partners LLC increased its position in shares of Wells Fargo & Company by 3.5% during the second quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock worth $313,000 after acquiring an additional 128 shares during the period. Finally, Verum Partners LLC raised its stake in shares of Wells Fargo & Company by 1.8% during the second quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock valued at $582,000 after acquiring an additional 128 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WFC has been the topic of several research analyst reports. Weiss Ratings raised Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, October 8th. Dbs Bank upgraded Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. Barclays increased their price target on Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. UBS Group decreased their price objective on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Wells Fargo & Company from $92.00 to $101.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 17th. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $92.04.

Wells Fargo & Company Trading Up 2.1%

Shares of NYSE:WFC opened at $95.15 on Friday. The business’s 50-day moving average is $88.82 and its 200 day moving average is $83.68. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $95.85. The firm has a market capitalization of $298.68 billion, a P/E ratio of 15.65, a P/E/G ratio of 0.85 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.18. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. During the same quarter in the previous year, the firm earned $1.42 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. On average, research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, November 7th. Wells Fargo & Company’s payout ratio is currently 29.61%.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.