Wells Fargo & Co. CEO John Stumpf Sells 300,000 Shares (WFC)
Wells Fargo & Co. (NYSE:WFC) CEO John Stumpf sold 300,000 shares of the company’s stock on the open market in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $43.18, for a total transaction of $12,954,000.00. Following the sale, the chief executive officer now directly owns 395,577 shares of the company’s stock, valued at approximately $17,081,015. The sale was disclosed in a filing with the SEC, which is available at this link.
Wells Fargo & Co. (NYSE:WFC) traded down 0.05% during mid-day trading on Friday, hitting $42.67. The stock had a trading volume of 15,539,833 shares. Wells Fargo & Co. has a one year low of $31.25 and a one year high of $44.79. The stock’s 50-day moving average is $42.10 and its 200-day moving average is $41.28. The company has a market cap of $225.0 billion and a price-to-earnings ratio of 11.23.
Wells Fargo & Co. (NYSE:WFC) last released its earnings data on Friday, October 11th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.02. The company had revenue of $20.50 billion for the quarter, compared to the consensus estimate of $21.00 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, analysts predict that Wells Fargo & Co. will post $3.87 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Sunday, December 1st. Shareholders of record on Friday, November 8th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Wednesday, November 6th.
A number of research firms have recently commented on WFC. Analysts at Zacks reiterated a “neutral” rating on shares of Wells Fargo & Co. in a research note to investors on Tuesday, October 15th. They now have a $44.00 price target on the stock. Separately, analysts at Keefe, Bruyette & Woods cut their price target on shares of Wells Fargo & Co. from $50.00 to $49.00 in a research note to investors on Monday, October 14th. They now have a “market perform” rating on the stock. Finally, analysts at Sanford C. Bernstein cut their price target on shares of Wells Fargo & Co. from $46.00 to $45.00 in a research note to investors on Monday, October 14th. They now have an “outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $43.85.
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company.
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