Wells Fargo & Co. Sees Unusually High Options Volume (WFC)
Shares of Wells Fargo & Co. (NYSE:WFC) was the recipient of unusually large options trading activity on Friday. Investors acquired 24,574 put options on the company, AnalystRatingsNetwork.com reports. This represents an increase of 167% compared to the typical volume of 9,198 put options.
WFC has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. initiated coverage on shares of Wells Fargo & Co. (NYSE:WFC) in a research note to investors on Friday. They set a “hold” rating on the stock. Separately, analysts at Societe Generale initiated coverage on shares of Wells Fargo & Co. (NYSE:WFC) in a research note to investors on Thursday. They set a “hold” rating and a $45.00 price target on the stock.
Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $43.04.
Wells Fargo & Co. (NYSE:WFC) opened at 42.23 on Monday. Wells Fargo & Co. has a 52-week low of $31.25 and a 52-week high of $44.79. The stock has a 50-day moving average of $42.56 and a 200-day moving average of $40.29. The company has a market cap of $224.2 billion and a price-to-earnings ratio of 11.61.
Wells Fargo & Co. (NYSE:WFC) last released its earnings data on Friday, July 12th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.05. The company had revenue of $21.40 billion for the quarter, compared to the consensus estimate of $21.21 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. On average, analysts predict that Wells Fargo & Co. will post $3.84 earnings per share for the current fiscal year.
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company.
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