Traders sold shares of Wells Fargo & Co (NYSE:WFC) on strength during trading hours on Wednesday. $202.20 million flowed into the stock on the tick-up and $286.15 million flowed out of the stock on the tick-down, for a money net flow of $83.95 million out of the stock. Of all stocks tracked, Wells Fargo & Co had the 0th highest net out-flow for the day. Wells Fargo & Co traded up $1.55 for the day and closed at $59.55
WFC has been the subject of several recent research reports. Vetr lowered Wells Fargo & Co from a “hold” rating to a “sell” rating and set a $52.91 target price for the company. in a report on Monday, October 23rd. Royal Bank of Canada reaffirmed a “buy” rating and set a $60.00 target price on shares of Wells Fargo & Co in a report on Wednesday, November 15th. Vertical Group raised Wells Fargo & Co from a “sell” rating to a “buy” rating in a report on Thursday, December 7th. Zacks Investment Research raised Wells Fargo & Co from a “sell” rating to a “hold” rating in a report on Tuesday, December 19th. Finally, Buckingham Research raised Wells Fargo & Co from a “neutral” rating to a “buy” rating and upped their target price for the company from $57.00 to $75.00 in a report on Thursday, December 21st. They noted that the move was a valuation call. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $62.90.
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 firm has a market cap of $294,180.00, a PE ratio of 14.46, a PEG ratio of 1.52 and a beta of 1.01.
Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.07). The business had revenue of $22.05 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.96 earnings per share. equities research analysts anticipate that Wells Fargo & Co will post 4.72 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd will be given a $0.39 dividend. The ex-dividend date is Thursday, February 1st. This represents a $1.56 dividend on an annualized basis and a yield of 2.61%. Wells Fargo & Co’s dividend payout ratio (DPR) is 37.77%.
Wells Fargo & Co announced that its board has authorized a share repurchase program on Tuesday, January 23rd that permits the company to repurchase 350,000,000 shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In other news, Director Ronald Sargent bought 9,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was purchased at an average cost of $55.98 per share, for a total transaction of $503,820.00. Following the completion of the transaction, the director now directly owns 81 shares of the company’s stock, valued at approximately $4,534.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Richard Levy sold 97,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.47, for a total value of $5,477,590.00. The disclosure for this sale can be found here. Insiders sold 184,482 shares of company stock valued at $10,471,050 over the last 90 days. 0.22% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in WFC. Vanguard Group Inc. lifted its position in shares of Wells Fargo & Co by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 314,755,460 shares of the financial services provider’s stock valued at $17,440,601,000 after acquiring an additional 3,621,402 shares during the last quarter. Capital World Investors lifted its position in shares of Wells Fargo & Co by 10.8% during 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 acquiring an additional 10,927,679 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Wells Fargo & Co by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 46,311,774 shares of the financial services provider’s stock valued at $2,803,705,000 after acquiring an additional 584,764 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Wells Fargo & Co by 19.7% during 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 acquiring an additional 7,445,414 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Wells Fargo & Co by 17.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 35,143,414 shares of the financial services provider’s stock valued at $1,937,888,000 after acquiring an additional 5,305,125 shares during the last quarter. Hedge funds and other institutional investors own 76.00% of the company’s stock.
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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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