Wells Fargo & Co. EVP Unloads $515,500 in Stock (WFC)
Wells Fargo & Co. (NYSE:WFC) EVP Michael J. Loughlin sold 10,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $51.55, for a total transaction of $515,500.00. Following the transaction, the executive vice president now directly owns 6 shares in the company, valued at approximately $309. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Wells Fargo & Co. (NYSE:WFC) traded up 0.04% on Thursday, hitting $51.57. 8,124,364 shares of the company’s stock traded hands. Wells Fargo & Co. has a one year low of $40.07 and a one year high of $53.08. The stock’s 50-day moving average is $50.93 and its 200-day moving average is $49.9. The company has a market cap of $269.2 billion and a price-to-earnings ratio of 12.73.
Wells Fargo & Co. (NYSE:WFC) last issued its quarterly 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 previous year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. Analysts expect that Wells Fargo & Co. will post $4.12 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Wells Fargo & Co. in a research note on Wednesday, August 27th. 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 analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the stock. Wells Fargo & Co. has an average rating of “Hold” and a consensus price target of $52.73.
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company.
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