Insider Selling: Wells Fargo & Co. EVP Sells 3,800 Shares of Stock (WFC)
Wells Fargo & Co. (NYSE:WFC) EVP Michael J. Heid sold 3,800 shares of the stock on the open market in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $45.90, for a total transaction of $174,420.00. Following the sale, the executive vice president now directly owns 6,921 shares in the company, valued at approximately $317,674. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Wells Fargo & Co. (NYSE:WFC) traded up 0.04% on Friday, hitting $46.41. 10,724,891 shares of the company’s stock traded hands. Wells Fargo & Co. has a one year low of $34.50 and a one year high of $46.74. The stock’s 50-day moving average is $44. and its 200-day moving average is $43.15. The company has a market cap of $244.0 billion and a P/E ratio of 11.93.
Wells Fargo & Co. (NYSE:WFC) last posted its quarterly earnings results on Monday, January 13th. The company reported $1.00 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.98 by $0.02. The company had revenue of $20.70 billion for the quarter, compared to the consensus estimate of $20.63 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. The company’s quarterly revenue was down 5.8% on a year-over-year basis. Analysts expect that Wells Fargo & Co. will post $4.02 EPS for the current fiscal year.
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 Wednesday. They now have a $48.00 price target on the stock. Separately, analysts at Compass Point raised their price target on shares of Wells Fargo & Co. from $42.00 to $47.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of Wells Fargo & Co. from $47.00 to $51.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $45.87.
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company.
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