Wells Fargo & Co (WFC) Shares Sold by Arbor Investment Advisors LLC

Arbor Investment Advisors LLC decreased its stake in Wells Fargo & Co (NYSE:WFC) by 10.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,236 shares of the financial services provider’s stock after selling 2,196 shares during the quarter. Wells Fargo & Co makes up approximately 0.4% of Arbor Investment Advisors LLC’s investment portfolio, making the stock its 23rd largest position. Arbor Investment Advisors LLC’s holdings in Wells Fargo & Co were worth $958,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in WFC. Dimensional Fund Advisors LP lifted its stake in shares of Wells Fargo & Co by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 43,088,636 shares of the financial services provider’s stock worth $2,388,296,000 after buying an additional 1,874,789 shares in the last quarter. Magellan Asset Management Ltd lifted its stake in shares of Wells Fargo & Co by 0.3% in the second quarter. Magellan Asset Management Ltd now owns 31,103,695 shares of the financial services provider’s stock worth $1,724,389,000 after buying an additional 78,797 shares in the last quarter. Boston Partners lifted its stake in shares of Wells Fargo & Co by 12.6% in the second quarter. Boston Partners now owns 21,223,020 shares of the financial services provider’s stock worth $1,176,604,000 after buying an additional 2,372,583 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Wells Fargo & Co by 2.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 16,910,637 shares of the financial services provider’s stock worth $937,526,000 after buying an additional 372,355 shares in the last quarter. Finally, Sanders Capital LLC purchased a new position in shares of Wells Fargo & Co in the second quarter worth about $952,809,000. Institutional investors and hedge funds own 77.57% of the company’s stock.

A number of equities analysts have commented on WFC shares. UBS Group set a $63.00 target price on shares of Wells Fargo & Co and gave the stock a “buy” rating in a research note on Friday, September 28th. Zacks Investment Research raised shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research note on Thursday, July 19th. Susquehanna Bancshares set a $63.00 target price on shares of Wells Fargo & Co and gave the stock a “hold” rating in a research note on Friday, July 13th. Keefe, Bruyette & Woods raised shares of Wells Fargo & Co from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $57.00 to $63.00 in a research note on Sunday, July 15th. They noted that the move was a valuation call. Finally, Macquarie downgraded shares of Wells Fargo & Co from an “outperform” rating to a “neutral” rating in a research note on Friday, September 7th. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $64.22.

In other news, EVP Avid Modjtabai sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $58.71, for a total value of $5,871,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Hope A. Hardison sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $58.01, for a total transaction of $1,450,250.00. Following the completion of the sale, the executive vice president now directly owns 109 shares in the company, valued at $6,323.09. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Wells Fargo & Co stock opened at $52.11 on Friday. The company has a market capitalization of $256.37 billion, a PE ratio of 12.68, a P/E/G ratio of 1.43 and a beta of 1.15. Wells Fargo & Co has a 1 year low of $50.26 and a 1 year high of $66.31. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.22.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings results on Friday, October 12th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.04). Wells Fargo & Co had a net margin of 22.03% and a return on equity of 12.38%. On average, research analysts forecast that Wells Fargo & Co will post 4.55 EPS for the current 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. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

Further Reading: Short Selling Stocks, A Beginner’s Guide

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

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