Wells Fargo & Co. Sees Unusually High Options Volume (WFC)
Wells Fargo & Co. (NYSE:WFC) was the target of some unusual options trading on Friday. Investors purchased 20,129 put options on the company, American Banking & Market News reports. This represents an increase of 115% compared to the average volume of 9,341 put options.
In other Wells Fargo & Co. news, VP Richard Levy sold 45,000 shares of Wells Fargo & Co. stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $49.04, for a total transaction of $2,206,800.00. Following the sale, the vice president now directly owns 55,167 shares of the company’s stock, valued at approximately $2,705,390. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on WFC. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Wells Fargo & Co. in a research note on Thursday. They now have a $51.00 price target on the stock. Separately, analysts at BMO Capital Markets upgraded shares of Wells Fargo & Co. from a “market perform” rating to an “outperform” rating in a research note on Friday. They now have a $55.00 price target on the stock, up previously from $53.00. They noted that the move was a valuation call. Finally, analysts at FBR Capital Markets reiterated an “outperform” rating on shares of Wells Fargo & Co. in a research note on Monday, April 14th. They now have a $50.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $48.35.
Wells Fargo & Co. (NYSE:WFC) traded down 0.55% on Friday, hitting $49.05. The stock had a trading volume of 16,255,966 shares. Wells Fargo & Co. has a 1-year low of $37.29 and a 1-year high of $50.49. The stock has a 50-day moving average of $48.71 and a 200-day moving average of $45.46. The company has a market cap of $258.3 billion and a P/E ratio of 12.27.
Wells Fargo & Co. (NYSE:WFC) last issued its quarterly earnings data on Friday, April 11th. The company reported $1.05 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.92 earnings per share. The company’s quarterly revenue was down 3.0% on a year-over-year basis. On average, analysts predict that Wells Fargo & Co. will post $4.08 earnings per share for the current fiscal year.
Wells Fargo & Company is a bank holding company. It has three operating segments: Community Banking, Wholesale Banking and Wealth, and Brokerage and Retirement.
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