Wells Fargo & Co (WFC) Short Interest Update

Wells Fargo & Co (NYSE:WFC) was the recipient of a significant decrease in short interest in December. As of December 29th, there was short interest totalling 33,994,025 shares, a decrease of 20.2% from the December 15th total of 42,618,653 shares. Based on an average daily volume of 14,477,538 shares, the days-to-cover ratio is currently 2.3 days. Currently, 0.7% of the shares of the company are short sold.

In other news, VP Richard Levy sold 97,000 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.47, for a total transaction of $5,477,590.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John R. Shrewsberry sold 70,000 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $56.90, for a total value of $3,983,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 184,482 shares of company stock worth $10,471,050. Corporate insiders own 0.22% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Wells Fargo & Co by 1.2% in the second quarter. Vanguard Group Inc. now owns 314,755,460 shares of the financial services provider’s stock worth $17,440,601,000 after acquiring an additional 3,621,402 shares during the period. Capital World Investors boosted its stake in shares of Wells Fargo & Co by 10.8% in the second quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock worth $6,192,259,000 after acquiring an additional 10,927,679 shares during the period. Capital Research Global Investors boosted its stake in shares of Wells Fargo & Co by 19.7% in the second quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock worth $2,511,614,000 after acquiring an additional 7,445,414 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Wells Fargo & Co by 17.8% in the third quarter. Dimensional Fund Advisors LP now owns 35,143,414 shares of the financial services provider’s stock worth $1,937,888,000 after acquiring an additional 5,305,125 shares during the period. Finally, Davis Selected Advisers boosted its stake in shares of Wells Fargo & Co by 1.4% in the third quarter. Davis Selected Advisers now owns 26,335,478 shares of the financial services provider’s stock worth $1,451,064,000 after acquiring an additional 368,667 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Shares of Wells Fargo & Co (NYSE WFC) opened at $64.22 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.90 and a quick ratio of 0.88. The company has a market capitalization of $316,470.00, a PE ratio of 15.55, a price-to-earnings-growth ratio of 1.68 and a beta of 0.96. Wells Fargo & Co has a 1 year low of $49.27 and a 1 year high of $64.31.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). The company had revenue of $22.05 billion during the quarter, compared to analysts’ expectations of $22.64 billion. Wells Fargo & Co had a return on equity of 12.24% and a net margin of 22.57%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.96 EPS. sell-side analysts expect that Wells Fargo & Co will post 4.7 EPS for the current year.

A number of research analysts have recently issued reports on the company. Royal Bank of Canada upped their price target on Wells Fargo & Co to $65.00 and gave the company an “outperform” rating in a report on Tuesday, January 16th. BMO Capital Markets reaffirmed a “hold” rating and set a $59.00 price target on shares of Wells Fargo & Co in a report on Thursday, January 4th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Wells Fargo & Co in a report on Tuesday, January 16th. Atlantic Securities raised Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $64.00 price target on the stock in a report on Wednesday, January 10th. Finally, Vining Sparks reiterated a “buy” rating and set a $75.00 price objective on shares of Wells Fargo & Co in a research report on Monday, January 8th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $61.71.

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Wells Fargo & Co 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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