Traders Sell Shares of Wells Fargo & Co. (WFC) on Strength (WFC)
Traders sold shares of Wells Fargo & Co. (NYSE:WFC) on strength during trading hours on Tuesday. $443.92 million flowed into the stock on the tick-up and $466.62 million flowed out of the stock on the tick-down, for a money net flow of $22.70 million out of the stock. Of all equities tracked, Wells Fargo & Co. had the 0th highest net out-flow for the day. Wells Fargo & Co. traded up $0.55 for the day and closed at $46.56
WFC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $57.00 price target on shares of Wells Fargo & Co. in a research note on Friday, September 9th. Vetr lowered Wells Fargo & Co. from a “strong-buy” rating to a “buy” rating and set a $51.06 price target for the company. in a research note on Wednesday, July 6th. Raymond James Financial Inc. reiterated a “market perform” rating on shares of Wells Fargo & Co. in a research note on Thursday, July 7th. Bank of America Corp. set a $50.00 price target on Wells Fargo & Co. and gave the stock a “buy” rating in a research note on Monday. Finally, FBR & Co reiterated a “buy” rating and issued a $63.00 price target on shares of Wells Fargo & Co. in a research note on Monday, July 18th. Seven analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Wells Fargo & Co. presently has a consensus rating of “Hold” and an average price target of $52.26.
The company has a market cap of $234.92 billion, a PE ratio of 11.50 and a beta of 0.90. The firm’s 50 day moving average price is $48.44 and its 200 day moving average price is $48.63.
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Wells Fargo & Co. (NYSE:WFC) last issued its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.01 EPS for the quarter, hitting the consensus estimate of $1.01. Wells Fargo & Co. had a net margin of 24.33% and a return on equity of 12.95%. The firm had revenue of $22.20 billion for the quarter. During the same quarter in the prior year, the company posted $1.03 earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year. On average, equities research analysts predict that Wells Fargo & Co. will post $4.02 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 5th were issued a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $1.52 annualized dividend and a dividend yield of 3.26%. Wells Fargo & Co.’s dividend payout ratio is currently 37.25%.
In other news, COO Timothy J. Sloan sold 20,500 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $48.92, for a total value of $1,002,860.00. Following the transaction, the chief operating officer now directly owns 650,815 shares in the company, valued at approximately $31,837,869.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Alecta Pensionsforsakring Omsesidigt acquired a new stake in Wells Fargo & Co. during the first quarter worth about $698,802,000. Parnassus Investments CA raised its stake in Wells Fargo & Co. by 879.2% in the second quarter. Parnassus Investments CA now owns 12,240,229 shares of the financial services provider’s stock worth $579,330,000 after buying an additional 10,990,229 shares during the period. Vanguard Group Inc. raised its stake in Wells Fargo & Co. by 2.2% in the second quarter. Vanguard Group Inc. now owns 288,028,042 shares of the financial services provider’s stock worth $13,632,368,000 after buying an additional 6,247,583 shares during the period. Ruane Cunniff & Goldfarb Inc. raised its stake in Wells Fargo & Co. by 5,580.0% in the second quarter. Ruane Cunniff & Goldfarb Inc. now owns 5,242,602 shares of the financial services provider’s stock worth $248,132,000 after buying an additional 5,150,302 shares during the period. Finally, BlackRock Fund Advisors raised its stake in Wells Fargo & Co. by 8.8% in the first quarter. BlackRock Fund Advisors now owns 57,985,130 shares of the financial services provider’s stock worth $2,804,161,000 after buying an additional 4,695,036 shares during the period. Institutional investors own 74.01% of the company’s stock.
About Wells Fargo & Co.
Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.
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