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

Investors sold shares of Wells Fargo & Company (NYSE:WFC) on strength during trading on Friday. $123.70 million flowed into the stock on the tick-up and $224.84 million flowed out of the stock on the tick-down, for a money net flow of $101.14 million out of the stock. Of all stocks tracked, Wells Fargo & had the 7th highest net out-flow for the day. Wells Fargo & traded up $0.25 for the day and closed at $55.87

A number of analysts have commented on the stock. Deutsche Bank AG restated a “buy” rating on shares of Wells Fargo & in a research note on Monday, July 3rd. Zacks Investment Research upgraded shares of Wells Fargo & from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Wells Fargo & in a research note on Wednesday, October 11th. Buckingham Research restated a “neutral” rating and set a $62.00 price target (up previously from $60.00) on shares of Wells Fargo & in a research note on Monday, July 10th. Finally, Robert W. Baird restated a “buy” rating and set a $58.00 price target on shares of Wells Fargo & in a research note on Friday, October 6th. Six research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $57.20.

The firm has a market cap of $275.32 billion, a price-to-earnings ratio of 14.44 and a beta of 0.97. The company’s 50 day moving average is $53.67 and its 200-day moving average is $53.49.

Wells Fargo & (NYSE:WFC) last released its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.20). The firm had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $22.30 billion. Wells Fargo & had a net margin of 22.00% and a return on equity of 12.59%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.03 earnings per share. On average, analysts anticipate that Wells Fargo & Company will post $3.95 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 3rd will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.79%. Wells Fargo &’s dividend payout ratio is currently 40.31%.

Hedge funds have recently bought and sold shares of the company. Boston Partners lifted its position in shares of Wells Fargo & by 50.0% during the 1st quarter. Boston Partners now owns 7,948,841 shares of the financial services provider’s stock valued at $442,432,000 after buying an additional 2,648,763 shares in the last quarter. Rockland Trust Co. lifted its position in shares of Wells Fargo & by 0.6% during the 2nd quarter. Rockland Trust Co. now owns 316,530 shares of the financial services provider’s stock valued at $17,539,000 after buying an additional 1,856 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Wells Fargo & by 83.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 7,972,116 shares of the financial services provider’s stock valued at $443,728,000 after buying an additional 3,637,100 shares in the last quarter. Kelman Lazarov Inc. lifted its position in shares of Wells Fargo & by 6.0% during the 2nd quarter. Kelman Lazarov Inc. now owns 64,172 shares of the financial services provider’s stock valued at $3,556,000 after buying an additional 3,612 shares in the last quarter. Finally, First Citizens Bank & Trust Co. lifted its position in shares of Wells Fargo & by 4.7% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 103,269 shares of the financial services provider’s stock valued at $5,722,000 after buying an additional 4,647 shares in the last quarter. 75.02% of the stock is currently owned by hedge funds and other institutional investors.

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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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