Traders Sell Wells Fargo & Co (WFC) on Strength (WFC)

Traders sold shares of Wells Fargo & Co (NYSE:WFC) on strength during trading on Friday. $389.42 million flowed into the stock on the tick-up and $524.11 million flowed out of the stock on the tick-down, for a money net flow of $134.69 million out of the stock. Of all equities tracked, Wells Fargo & Co had the 0th highest net out-flow for the day. Wells Fargo & Co traded up $1.81 for the day and closed at $55.44

A number of research firms have recently issued reports on WFC. Keefe, Bruyette & Woods upgraded Wells Fargo & Co to a “buy” rating in a research note on Monday, April 30th. Morgan Stanley dropped their price target on Wells Fargo & Co from $60.00 to $57.00 and set an “underweight” rating on the stock in a research note on Monday, April 30th. Macquarie upgraded Wells Fargo & Co from an “underperform” rating to an “outperform” rating in a research note on Monday, April 30th. Susquehanna Bancshares set a $58.00 price target on Wells Fargo & Co and gave the stock a “hold” rating in a research note on Monday, April 23rd. Finally, Barclays dropped their price target on Wells Fargo & Co from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, April 16th. Six research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the stock. Wells Fargo & Co has an average rating of “Hold” and an average price target of $61.82.

The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $261.59 billion, a PE ratio of 13.49, a PEG ratio of 1.45 and a beta of 1.12.

Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Friday, April 13th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.05. Wells Fargo & Co had a return on equity of 12.46% and a net margin of 22.80%. The firm had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $21.74 billion. During the same period in the previous year, the firm posted $1.00 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. equities analysts predict that Wells Fargo & Co will post 4.57 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Friday, May 4th were issued a $0.39 dividend. The ex-dividend date was Thursday, May 3rd. This represents a $1.56 annualized dividend and a dividend yield of 2.81%. Wells Fargo & Co’s dividend payout ratio (DPR) is 37.96%.

In other news, EVP Petros G. Pelos sold 25,567 shares of Wells Fargo & Co stock in a transaction dated Thursday, May 24th. The stock was sold at an average price of $54.76, for a total value of $1,400,048.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Magellan Asset Management Ltd grew its position in Wells Fargo & Co by 24.1% in the first quarter. Magellan Asset Management Ltd now owns 31,024,898 shares of the financial services provider’s stock worth $1,626,015,000 after acquiring an additional 6,017,222 shares in the last quarter. Viking Global Investors LP grew its position in Wells Fargo & Co by 181.3% in the fourth quarter. Viking Global Investors LP now owns 5,338,016 shares of the financial services provider’s stock worth $323,857,000 after acquiring an additional 3,440,121 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in Wells Fargo & Co in the first quarter worth about $154,981,000. Massachusetts Financial Services Co. MA grew its position in Wells Fargo & Co by 5.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 50,957,630 shares of the financial services provider’s stock worth $2,670,689,000 after acquiring an additional 2,497,659 shares in the last quarter. Finally, Natixis grew its position in Wells Fargo & Co by 334.1% in the first quarter. Natixis now owns 2,662,960 shares of the financial services provider’s stock worth $138,523,000 after acquiring an additional 2,049,539 shares in the last quarter. 76.04% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Co 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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