Investors Sell Wells Fargo (WFC) on Strength (WFC)

Traders sold shares of Wells Fargo (NYSE:WFC) on strength during trading hours on Thursday. $185.68 million flowed into the stock on the tick-up and $238.19 million flowed out of the stock on the tick-down, for a money net flow of $52.51 million out of the stock. Of all stocks tracked, Wells Fargo had the 0th highest net out-flow for the day. Wells Fargo traded up $1.15 for the day and closed at $51.54

Several equities research analysts have issued reports on WFC shares. Morgan Stanley lifted their price objective on Wells Fargo from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Sandler O’Neill upgraded Wells Fargo from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $62.04 to $73.00 in a report on Tuesday, January 9th. JPMorgan Chase downgraded Wells Fargo from a “neutral” rating to an “underweight” rating in a report on Monday, February 5th. Sanford C. Bernstein upgraded Wells Fargo from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $64.00 to $69.00 in a report on Wednesday, January 3rd. Finally, Vetr upgraded Wells Fargo from a “strong sell” rating to a “sell” rating and set a $54.78 price objective on the stock in a report on Monday, February 5th. Six analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $61.31.

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The company has a debt-to-equity ratio of 1.26, a current ratio of 0.88 and a quick ratio of 0.86. The firm has a market cap of $251,399.44, a price-to-earnings ratio of 12.79, a P/E/G ratio of 1.39 and a beta of 1.13.

Wells Fargo (NYSE:WFC) last issued its quarterly earnings results on Friday, April 13th. The financial services provider reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.05. The business had revenue of $21.93 billion during the quarter, compared to the consensus estimate of $21.74 billion. Wells Fargo had a return on equity of 12.44% and a net margin of 22.80%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.00 EPS. sell-side analysts expect that Wells Fargo will post 4.57 EPS for the current year.

Wells Fargo declared that its Board of Directors has approved a share buyback program on Tuesday, January 23rd that authorizes the company to buyback 350,000,000 shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

In related news, Director Ronald Sargent acquired 9,000 shares of the stock in a transaction that occurred 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 purchase, the director now directly owns 81 shares in the company, valued at $4,534.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Beach Investment Management LLC. acquired a new position in Wells Fargo during the 2nd quarter worth $1,010,000. Nations Financial Group Inc. IA ADV boosted its position in Wells Fargo by 21.4% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 5,483 shares of the financial services provider’s stock worth $304,000 after acquiring an additional 968 shares during the period. Regal Investment Advisors LLC boosted its position in Wells Fargo by 567.0% during the 2nd quarter. Regal Investment Advisors LLC now owns 44,181 shares of the financial services provider’s stock worth $2,448,000 after acquiring an additional 37,557 shares during the period. Holowesko Partners Ltd. boosted its position in Wells Fargo by 0.6% during the 2nd quarter. Holowesko Partners Ltd. now owns 2,052,981 shares of the financial services provider’s stock worth $113,756,000 after acquiring an additional 13,000 shares during the period. Finally, Dai Ichi Life Insurance Company Ltd boosted its position in Wells Fargo by 9.6% during the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 477,780 shares of the financial services provider’s stock worth $26,474,000 after acquiring an additional 42,037 shares during the period. Hedge funds and other institutional investors own 77.29% of the company’s stock.

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Wells Fargo Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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