Wells Fargo & Co (WFC) Short Interest Update

Wells Fargo & Co (NYSE:WFC) was the recipient of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 34,527,166 shares, an increase of 17.8% from the November 15th total of 29,308,791 shares. Based on an average daily volume of 18,705,308 shares, the days-to-cover ratio is currently 1.8 days. Approximately 0.7% of the company’s shares are short sold.

In related news, insider John R. Shrewsberry sold 70,000 shares of Wells Fargo & Co stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.90, for a total value of $3,983,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael J. Loughlin sold 17,482 shares of Wells Fargo & Co stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $57.80, for a total value of $1,010,459.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 184,482 shares of company stock valued at $10,471,050. Corporate insiders own 0.22% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Patriot Financial Group Insurance Agency LLC lifted its stake in Wells Fargo & Co by 0.3% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 6 shares in the last quarter. Winch Advisory Services LLC lifted its stake in Wells Fargo & Co by 0.7% in the 2nd quarter. Winch Advisory Services LLC now owns 2,776 shares of the financial services provider’s stock valued at $154,000 after acquiring an additional 20 shares in the last quarter. Jackson Grant Investment Advisers Inc. lifted its stake in Wells Fargo & Co by 0.5% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 4,928 shares of the financial services provider’s stock valued at $274,000 after acquiring an additional 24 shares in the last quarter. Financial Advisory Group lifted its stake in Wells Fargo & Co by 0.7% in the 2nd quarter. Financial Advisory Group now owns 5,029 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 35 shares in the last quarter. Finally, Keystone Financial Planning Inc. lifted its stake in Wells Fargo & Co by 0.6% in the 1st quarter. Keystone Financial Planning Inc. now owns 6,755 shares of the financial services provider’s stock valued at $376,000 after acquiring an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 75.70% of the company’s stock.

A number of analysts recently commented on the company. Goldman Sachs Group restated a “buy” rating on shares of Wells Fargo & Co in a report on Wednesday, October 11th. Vetr upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $54.49 target price on the stock in a report on Tuesday, October 24th. Vertical Group assumed coverage on Wells Fargo & Co in a report on Friday, October 6th. They set a “sell” rating on the stock. Credit Suisse Group restated a “hold” rating and set a $57.00 target price on shares of Wells Fargo & Co in a report on Tuesday, October 10th. Finally, UBS Group set a $55.00 target price on Wells Fargo & Co and gave the stock a “hold” rating in a report on Monday, October 16th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $61.02.

Wells Fargo & Co (NYSE:WFC) traded down $0.46 during trading hours on Friday, hitting $62.55. The stock had a trading volume of 25,882,911 shares, compared to its average volume of 20,510,000. Wells Fargo & Co has a fifty-two week low of $49.27 and a fifty-two week high of $63.67. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89. The company has a market cap of $308,240.00, a PE ratio of 16.16, a PEG ratio of 1.66 and a beta of 0.96.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.07). Wells Fargo & Co had a net margin of 22.00% and a return on equity of 12.59%. The business had revenue of $22.05 billion for the quarter, compared to the consensus estimate of $22.64 billion. During the same quarter last year, the firm earned $0.96 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. equities analysts anticipate that Wells Fargo & Co will post 3.98 earnings per share for the current year.

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About Wells Fargo & Co

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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