Insider Selling: Michael J. Heid Unloads 28,462 Shares of Wells Fargo & Co. Stock (WFC)
Wells Fargo & Co. (NYSE:WFC) EVP Michael J. Heid sold 28,462 shares of the company’s stock on the open market in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $49.08, for a total transaction of $1,396,914.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Wells Fargo & Co. (NYSE:WFC) traded up 0.64% on Wednesday, hitting $49.09. The stock had a trading volume of 17,738,528 shares. Wells Fargo & Co. has a one year low of $36.19 and a one year high of $50.49. The stock has a 50-day moving average of $48.17 and a 200-day moving average of $45.14. The company has a market cap of $258.5 billion and a price-to-earnings ratio of 12.13.
Wells Fargo & Co. (NYSE:WFC) last announced its earnings results on Friday, April 11th. The company reported $1.05 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.96 by $0.09. The company had revenue of $20.60 billion for the quarter, compared to the consensus estimate of $20.60 billion. During the same quarter last year, the company posted $0.92 earnings per share. Wells Fargo & Co.’s revenue was down 3.0% compared to the same quarter last year. Analysts expect that Wells Fargo & Co. will post $4.09 EPS for the current fiscal year.
WFC has been the subject of a number of recent research reports. Analysts at FBR Capital Markets reiterated an “outperform” rating on shares of Wells Fargo & Co. in a research note on Monday. They now have a $50.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Wells Fargo & Co. in a research note on Monday. They now have a $50.00 price target on the stock. Finally, analysts at UBS AG raised their price target on shares of Wells Fargo & Co. from $46.50 to $50.00 in a research note on Monday. They now have a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $47.96.
Wells Fargo & Company is a bank holding company. It has three operating segments: Community Banking, Wholesale Banking and Wealth, and Brokerage and Retirement.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.