Arlington Financial Advisors LLC Makes New $504,000 Investment in Wells Fargo & Co (NYSE:WFC)

Arlington Financial Advisors LLC bought a new position in Wells Fargo & Co (NYSE:WFC) during the first quarter, HoldingsChannel.com reports. The fund bought 17,575 shares of the financial services provider’s stock, valued at approximately $504,000.

Several other institutional investors have also recently made changes to their positions in WFC. Psagot Investment House Ltd. increased its holdings in shares of Wells Fargo & Co by 622.4% in the 3rd quarter. Psagot Investment House Ltd. now owns 369,615 shares of the financial services provider’s stock valued at $18,643,000 after acquiring an additional 318,451 shares during the last quarter. Voya Financial Advisors Inc. increased its holdings in shares of Wells Fargo & Co by 4.5% in the 3rd quarter. Voya Financial Advisors Inc. now owns 144,766 shares of the financial services provider’s stock valued at $7,341,000 after acquiring an additional 6,245 shares during the last quarter. Redpoint Investment Management Pty Ltd increased its holdings in shares of Wells Fargo & Co by 2.0% in the 3rd quarter. Redpoint Investment Management Pty Ltd now owns 304,326 shares of the financial services provider’s stock valued at $15,350,000 after acquiring an additional 6,019 shares during the last quarter. MV Capital Management Inc. grew its stake in Wells Fargo & Co by 49.3% during the 3rd quarter. MV Capital Management Inc. now owns 803 shares of the financial services provider’s stock worth $41,000 after buying an additional 265 shares during the last quarter. Finally, Headinvest LLC grew its stake in Wells Fargo & Co by 31.9% during the 3rd quarter. Headinvest LLC now owns 6,729 shares of the financial services provider’s stock worth $339,000 after buying an additional 1,626 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

In other Wells Fargo & Co news, Director Charles H. Noski acquired 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average cost of $29.53 per share, with a total value of $590,600.00. Following the acquisition, the director now directly owns 74 shares of the company’s stock, valued at approximately $2,185.22. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Charles W. Scharf acquired 173,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average cost of $28.69 per share, with a total value of $4,963,370.00. Following the completion of the acquisition, the chief executive officer now directly owns 176,916 shares in the company, valued at $5,075,720.04. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.

A number of research firms have weighed in on WFC. Cfra raised Wells Fargo & Co from a “sell” rating to a “hold” rating and decreased their price objective for the stock from $48.00 to $42.00 in a research report on Wednesday, March 4th. Morgan Stanley reduced their price target on Wells Fargo & Co from $49.00 to $39.00 and set an “equal weight” rating for the company in a report on Monday, March 9th. Zacks Investment Research raised Wells Fargo & Co from a “strong sell” rating to a “hold” rating and set a $23.00 price target for the company in a report on Tuesday, March 17th. Odeon Capital Group raised Wells Fargo & Co from a “sell” rating to a “hold” rating in a report on Thursday, March 26th. Finally, Atlantic Securities raised Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $44.00 price objective for the company in a report on Friday, February 28th. Five research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $43.30.

Wells Fargo & Co stock traded up $2.92 during midday trading on Thursday, hitting $33.20. The stock had a trading volume of 62,452,393 shares, compared to its average volume of 33,676,055. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The stock has a market cap of $117.65 billion, a P/E ratio of 8.26, a P/E/G ratio of 0.86 and a beta of 1.35. Wells Fargo & Co has a 12 month low of $25.10 and a 12 month high of $54.75. The business has a fifty day moving average price of $34.90 and a 200 day moving average price of $47.19.

Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings data on Tuesday, January 14th. The financial services provider reported $0.93 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.17). The firm had revenue of $19.86 billion during the quarter, compared to the consensus estimate of $20.11 billion. Wells Fargo & Co had a net margin of 18.81% and a return on equity of 12.11%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 earnings per share. On average, equities analysts anticipate that Wells Fargo & Co will post 3.12 EPS for the current fiscal year.

About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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