Traders Sell Shares of Wells Fargo & Company (WFC) on Strength (WFC)

Investors sold shares of Wells Fargo & Company (NYSE:WFC) on strength during trading hours on Tuesday. $141.44 million flowed into the stock on the tick-up and $204.04 million flowed out of the stock on the tick-down, for a money net flow of $62.60 million out of the stock. Of all companies tracked, Wells Fargo & had the 0th highest net out-flow for the day. Wells Fargo & traded up $0.11 for the day and closed at $55.58

Several research analysts have recently commented on WFC shares. Vetr upgraded shares of Wells Fargo & to a “strong-buy” rating in a research note on Thursday, September 7th. Berenberg Bank lowered shares of Wells Fargo & from a “hold” rating to a “sell” rating and increased their price target for the stock from $35.00 to $45.00 in a research note on Friday, July 21st. Deutsche Bank AG restated a “buy” rating on shares of Wells Fargo & in a research note on Monday, July 3rd. Robert W. Baird restated a “buy” rating and set a $58.00 price target on shares of Wells Fargo & in a research note on Tuesday, September 5th. Finally, Zacks Investment Research upgraded shares of Wells Fargo & from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Seven analysts have rated the stock with a sell rating, thirteen have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $56.41.

The firm has a market capitalization of $272.82 billion, a P/E ratio of 13.54 and a beta of 0.97. The company has a 50-day moving average price of $52.40 and a 200-day moving average price of $53.59.

Wells Fargo & (NYSE:WFC) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.05. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The business had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $22.23 billion. During the same period in the prior year, the company posted $1.01 earnings per share. Wells Fargo &’s revenue was up .2% compared to the same quarter last year. On average, analysts anticipate that Wells Fargo & Company will post $4.15 earnings per share for the current fiscal year.

Wells Fargo & announced that its board has authorized a stock buyback program on Wednesday, June 28th that permits the company to buyback $11.50 billion in shares. This buyback authorization permits the financial services provider to buy up to 4.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Alexandria Capital LLC lifted its position in Wells Fargo & by 0.3% during the first quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 6 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its position in Wells Fargo & by 0.3% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 6 shares during the period. Winch Advisory Services LLC lifted its position in Wells Fargo & by 0.7% during the first quarter. Winch Advisory Services LLC now owns 2,756 shares of the financial services provider’s stock worth $153,000 after purchasing an additional 18 shares during the period. Jackson Grant Investment Advisers Inc. lifted its position in Wells Fargo & by 0.5% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 4,928 shares of the financial services provider’s stock worth $274,000 after purchasing an additional 24 shares during the period. Finally, Financial Advisory Group lifted its position in Wells Fargo & by 0.7% during the second quarter. Financial Advisory Group now owns 5,029 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 35 shares during the period. 75.12% of the stock is owned by institutional investors and hedge funds.

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Wells Fargo & 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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