Traders Purchase High Volume of Put Options on Wells Fargo & Co. (WFC)
Wells Fargo & Co. (NYSE:WFC) was the target of some unusual options trading on Thursday. Stock traders purchased 32,131 put options on the company, AR Network reports. This represents an increase of approximately 312% compared to the typical volume of 7,800 put options.
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 on Wednesday. They now have a $54.00 price target on the stock. Separately, 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $52.73.
Shares of Wells Fargo & Co. (NYSE:WFC) traded down 0.37% during mid-day trading on Thursday, hitting $51.15. The stock had a trading volume of 7,689,101 shares. Wells Fargo & Co. has a 1-year low of $40.07 and a 1-year high of $53.08. The stock has a 50-day moving average of $51.01 and a 200-day moving average of $49.78. The company has a market cap of $267.0 billion and a P/E ratio of 12.68.
Wells Fargo & Co. (NYSE:WFC) last released its earnings data 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 $4.12 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 2.74%. 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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