Wells Fargo & Company Sees Unusually High Options Volume (WFC)
Wells Fargo & Company (NYSE:WFC) saw some unusual options trading on Tuesday. Investors bought 24,838 call options on the company. This represents an increase of 113% compared to the typical volume of 11,645 call options.
WFC has been the subject of several analyst reports. Jefferies Group LLC reaffirmed a “hold” rating and set a $62.00 target price on shares of Wells Fargo & Company in a research report on Wednesday, April 5th. Vetr raised Wells Fargo & Company from a “sell” rating to a “hold” rating and set a $55.28 target price for the company in a research report on Tuesday, March 21st. Evercore ISI reaffirmed an “outperform” rating and set a $64.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, April 18th. Vining Sparks raised Wells Fargo & Company to a “strong-buy” rating and set a $65.00 target price for the company in a research report on Thursday, April 27th. Finally, Piper Jaffray Companies raised Wells Fargo & Company from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $54.84 to $55.00 in a research report on Monday, April 10th. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $55.37.
Shares of Wells Fargo & Company (WFC) traded up 1.16% during trading on Monday, reaching $53.06. 8,657,734 shares of the company traded hands. The stock has a market capitalization of $265.16 billion, a P/E ratio of 13.27 and a beta of 0.97. The firm’s 50 day moving average is $53.36 and its 200-day moving average is $55.31. Wells Fargo & Company has a 12-month low of $43.55 and a 12-month high of $59.99.
Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Thursday, April 13th. The financial services provider reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.03. The business had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.25 billion. Wells Fargo & Company had a net margin of 23.18% and a return on equity of 12.56%. The business’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.99 earnings per share. On average, equities research analysts anticipate that Wells Fargo & Company will post $4.15 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 5th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Wednesday, May 3rd. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 38.00%.
In other news, CEO Timothy J. Sloan purchased 39,000 shares of the company’s stock in a transaction dated Monday, April 17th. The stock was bought at an average cost of $51.65 per share, for a total transaction of $2,014,350.00. Following the purchase, the chief executive officer now owns 754,581 shares of the company’s stock, valued at $38,974,108.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Petros G. Pelos sold 24,708 shares of the stock in a transaction on Monday, June 12th. The shares were sold at an average price of $54.07, for a total value of $1,335,961.56. The disclosure for this sale can be found here. Over the last quarter, insiders bought 106,392 shares of company stock valued at $5,526,822 and sold 231,278 shares valued at $12,361,120. 0.22% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the company. Smith Asset Management Group LP boosted its stake in shares of Wells Fargo & Company by 4.0% in the first quarter. Smith Asset Management Group LP now owns 1,820 shares of the financial services provider’s stock worth $101,000 after buying an additional 70 shares during the period. Alexandria Capital LLC boosted its stake in Wells Fargo & Company by 0.3% in the first quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock worth $102,000 after buying an additional 6 shares during the last quarter. Trent Capital Management Inc. NC purchased a new stake in Wells Fargo & Company during the fourth quarter worth approximately $102,000. Rocky Mountain Advisers LLC boosted its stake in Wells Fargo & Company by 117.6% in the fourth quarter. Rocky Mountain Advisers LLC now owns 1,850 shares of the financial services provider’s stock worth $102,000 after buying an additional 1,000 shares during the last quarter. Finally, Brick & Kyle Associates boosted its stake in Wells Fargo & Company by 9.5% in the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after buying an additional 162 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.
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Wells Fargo & Company Company Profile
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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