Wells Fargo & Co. Target of Unusually High Options Trading (WFC)
Shares of Wells Fargo & Co. (NYSE:WFC) saw some unusual options trading on Monday. Stock investors bought 20,999 put options on the stock, Analyst Ratings Network.com reports. This represents an increase of 108% compared to the typical volume of 10,095 put options.
Several analysts have recently commented on the stock. 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 assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Wells Fargo & Co. has a consensus rating of “Hold” and a consensus price target of $43.04.
Shares of Wells Fargo & Co. (NYSE:WFC) traded down 1.26% during mid-day trading on Monday, hitting $42.31. The stock had a trading volume of 16,476,082 shares. 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 $42.5 and a 200-day moving average of $40.40. The company has a market cap of $224.7 billion and a price-to-earnings ratio of 11.61.
Wells Fargo & Co. (NYSE:WFC) last issued its quarterly earnings data on Friday, July 12th. The company reported $0.98 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.82 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. Analysts expect 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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