Wells Fargo & Co. Sees Unusually Large Options Volume (WFC)
Shares of Wells Fargo & Co. (NYSE:WFC) were the target of unusually large options trading on Monday. Stock investors acquired 25,953 call options on the company, Analyst Ratings Network reports. This represents an increase of 168% compared to the average daily volume of 9,678 call options.
A number of research firms have recently commented on WFC. Analysts at Rafferty Capital Markets downgraded shares of Wells Fargo & Co. from a “buy” rating to a “hold” rating in a research note on Monday, July 21st. They now have a $57.85 price target on the stock. Separately, analysts at Compass Point raised their price target on shares of Wells Fargo & Co. from $49.00 to $51.00 in a research note on Monday, July 14th. 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 $51.00 to $56.00 in a research note on Monday, July 14th. They now have an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company. Wells Fargo & Co. presently has a consensus rating of “Hold” and a consensus price target of $52.66.
Shares of Wells Fargo & Co. (NYSE:WFC) traded up 0.96% on Monday, hitting $50.69. 9,913,476 shares of the company’s stock traded hands. Wells Fargo & Co. has a 52-week low of $40.07 and a 52-week high of $53.08. The stock has a 50-day moving average of $51.27 and a 200-day moving average of $49.41. The company has a market cap of $264.6 billion and a price-to-earnings ratio of 12.40.
Wells Fargo & Co. (NYSE:WFC) last posted its quarterly earnings results on Friday, July 11th. The company reported $1.01 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $1.01. The company had revenue of $21.10 billion for the quarter, compared to the consensus estimate of $20.76 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. The company’s quarterly revenue was down 1.4% 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.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 1st. Investors of record on Friday, August 8th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Wednesday, August 6th.
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company.
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