Wells Fargo & Co (NYSE:WFC) was the recipient of a large decline in short interest in the month of December. As of December 29th, there was short interest totalling 33,994,025 shares, a decline of 20.2% from the December 15th total of 42,618,653 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average trading volume of 14,477,538 shares, the short-interest ratio is presently 2.3 days.
A number of analysts have commented on WFC shares. Vetr lowered shares of Wells Fargo & Co from a “strong-buy” rating to a “sell” rating and set a $55.47 target price for the company. in a report on Monday, January 8th. Sanford C. Bernstein raised shares of Wells Fargo & Co from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $64.00 to $69.00 in a report on Wednesday, January 3rd. BMO Capital Markets boosted their price target on shares of Wells Fargo & Co from $49.00 to $50.00 and gave the company a “market perform” rating in a report on Monday, October 16th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Wells Fargo & Co in a report on Tuesday, January 16th. Finally, Atlantic Securities raised shares of Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $64.00 price target for the company in a report on Wednesday, January 10th. Five research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company’s stock. Wells Fargo & Co currently has an average rating of “Hold” and an average target price of $76.34.
In other Wells Fargo & Co news, Director Ronald Sargent bought 9,000 shares of the stock in a transaction on Monday, February 12th. The stock was purchased at an average price of $55.98 per share, with a total value of $503,820.00. Following the acquisition, the director now owns 81 shares of the company’s stock, valued at $4,534.38. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael J. Loughlin sold 17,482 shares of Wells Fargo & Co stock in a transaction on Monday, December 4th. The stock was sold at an average price of $57.80, for a total transaction of $1,010,459.60. The disclosure for this sale can be found here. Insiders have sold a total of 184,482 shares of company stock valued at $10,471,050 in the last ninety days. Company insiders own 0.22% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in WFC. Boston Partners increased its stake in shares of Wells Fargo & Co by 140.1% during the 2nd quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock worth $1,057,700,000 after purchasing an additional 11,139,780 shares during the last quarter. Capital World Investors grew its stake in Wells Fargo & Co by 10.8% in the 2nd quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock valued at $6,192,259,000 after buying an additional 10,927,679 shares during the last quarter. Capital Research Global Investors grew its stake in Wells Fargo & Co by 19.7% in the 2nd quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock valued at $2,511,614,000 after buying an additional 7,445,414 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Wells Fargo & Co by 26.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider’s stock valued at $1,653,464,000 after buying an additional 6,291,906 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in Wells Fargo & Co by 396.3% in the 2nd quarter. Janus Henderson Group PLC now owns 5,894,918 shares of the financial services provider’s stock valued at $326,655,000 after buying an additional 4,707,207 shares during the last quarter. Institutional investors own 76.00% of the company’s stock.
Shares of Wells Fargo & Co (NYSE:WFC) traded up $0.37 during trading hours on Monday, reaching $56.50. 24,401,292 shares of the company’s stock traded hands, compared to its average volume of 24,770,000. The company has a quick ratio of 0.88, a current ratio of 0.90 and a debt-to-equity ratio of 1.23. Wells Fargo & Co has a 52-week low of $49.27 and a 52-week high of $66.31. The company has a market cap of $278,220.00, a PE ratio of 13.68, a PEG ratio of 1.47 and a beta of 1.01.
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 the consensus estimate of $1.04 by ($0.07). Wells Fargo & Co had a return on equity of 12.24% and a net margin of 22.57%. The business had revenue of $22.05 billion for the quarter, compared to the consensus estimate of $22.64 billion. During the same period last year, the firm earned $0.96 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. research analysts expect that Wells Fargo & Co will post 4.72 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, February 1st. This represents a $1.56 annualized dividend and a yield of 2.76%. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 37.77%.
Wells Fargo & Co announced that its Board of Directors has approved a stock repurchase program on Tuesday, January 23rd that allows the company to buyback 350,000,000 outstanding shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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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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