Arlington Trust Co LLC Has $35,000 Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Arlington Trust Co LLC lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 98.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 485 shares of the financial services provider's stock after selling 28,900 shares during the quarter. Arlington Trust Co LLC's holdings in Wells Fargo & Company were worth $35,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aaron Wealth Advisors LLC lifted its stake in shares of Wells Fargo & Company by 5.1% during the 1st quarter. Aaron Wealth Advisors LLC now owns 20,623 shares of the financial services provider's stock worth $1,480,000 after buying an additional 995 shares during the last quarter. Defender Capital LLC. acquired a new stake in Wells Fargo & Company during the first quarter worth approximately $521,000. Coastline Trust Co lifted its position in Wells Fargo & Company by 9.4% during the first quarter. Coastline Trust Co now owns 7,274 shares of the financial services provider's stock worth $522,000 after acquiring an additional 626 shares during the last quarter. Oregon Pacific Wealth Management LLC boosted its holdings in shares of Wells Fargo & Company by 6.5% during the first quarter. Oregon Pacific Wealth Management LLC now owns 3,504 shares of the financial services provider's stock worth $252,000 after acquiring an additional 214 shares during the period. Finally, Keybank National Association OH grew its position in shares of Wells Fargo & Company by 2.4% in the first quarter. Keybank National Association OH now owns 1,997,341 shares of the financial services provider's stock valued at $143,389,000 after purchasing an additional 47,429 shares during the last quarter. Institutional investors own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

WFC has been the subject of several recent research reports. Royal Bank Of Canada upgraded Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target for the company in a research note on Thursday, March 13th. Bank of America lifted their target price on Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Piper Sandler restated an "overweight" rating and issued a $85.00 price target (up from $75.00) on shares of Wells Fargo & Company in a research note on Wednesday, June 4th. TD Cowen assumed coverage on shares of Wells Fargo & Company in a research note on Thursday, May 15th. They issued a "hold" rating and a $83.00 price objective for the company. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Wells Fargo & Company in a research report on Wednesday, June 18th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.33.

Wells Fargo & Company Price Performance

Shares of WFC stock traded up $0.96 on Thursday, hitting $83.32. 11,237,287 shares of the company's stock were exchanged, compared to its average volume of 17,310,901. The company has a 50 day moving average of $74.79 and a 200 day moving average of $73.27. The stock has a market cap of $271.12 billion, a P/E ratio of 14.96, a price-to-earnings-growth ratio of 1.36 and a beta of 1.16. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.84. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $83.94.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.23 by $0.16. The firm had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. Wells Fargo & Company had a return on equity of 12.15% and a net margin of 16.19%. The business's quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.20 earnings per share. On average, equities research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company declared that its Board of Directors has initiated a stock repurchase program on Tuesday, April 29th that authorizes the company to buyback $40.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 17.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 9th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.60 dividend on an annualized basis and a yield of 1.92%. Wells Fargo & Company's dividend payout ratio is currently 28.73%.

About Wells Fargo & Company

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.