Traders Buy High Volume of Call Options on Wells Fargo & Co. (WFC)
Wells Fargo & Co. (NYSE:WFC) was the recipient of some unusual options trading activity on Tuesday. Stock traders acquired 20,080 call options on the company, AR Network reports. This is an increase of 113% compared to the typical daily volume of 9,443 call options.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Wells Fargo & Co. in a research note on Tuesday. They now have a $56.00 price target on the stock, up previously from $53.00. Separately, analysts at Nomura initiated coverage on shares of Wells Fargo & Co. in a research note on Wednesday, May 14th. They set a “buy” rating and a $60.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Wells Fargo & Co. in a research note on Tuesday, April 29th. They now have a $53.00 price target on the stock. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $49.87.
Wells Fargo & Co. (NYSE:WFC) traded up 1.12% on Tuesday, hitting $51.66. The stock had a trading volume of 15,431,318 shares. Wells Fargo & Co. has a one year low of $39.40 and a one year high of $52.63. The stock’s 50-day moving average is $50.2 and its 200-day moving average is $47.50. The company has a market cap of $272.1 billion and a price-to-earnings ratio of 12.71.
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 $4.11 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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