Wells Fargo & Company (NYSE:WFC) was the recipient of a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 32,500,000 shares, a decrease of 17.9% from the March 31st total of 39,580,000 shares. Based on an average trading volume of 19,080,000 shares, the days-to-cover ratio is currently 1.7 days. Approximately 0.9% of the shares of the stock are short sold.
Wall Street Analyst Weigh In
A number of brokerages have commented on WFC. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Citigroup reaffirmed a “neutral” rating and issued a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Raymond James raised their target price on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 16th. Jefferies Financial Group raised their target price on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $51.00 target price on shares of Wells Fargo & Company in a research note on Tuesday, January 9th. Thirteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $58.85.
Read Our Latest Report on Wells Fargo & Company
Wells Fargo & Company Trading Down 0.2 %
Wells Fargo & Company (NYSE:WFC – Get Free Report) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. Wells Fargo & Company’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 earnings per share. Analysts forecast that Wells Fargo & Company will post 5.06 EPS for the current year.
Institutional Trading of Wells Fargo & Company
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Core Wealth Advisors Inc. acquired a new stake in Wells Fargo & Company during the fourth quarter worth approximately $25,000. Arlington Trust Co LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $25,000. Tennessee Valley Asset Management Partners acquired a new position in shares of Wells Fargo & Company during the 4th quarter valued at $29,000. Fortis Group Advisors LLC bought a new position in Wells Fargo & Company during the third quarter worth $25,000. Finally, Transcendent Capital Group LLC acquired a new stake in Wells Fargo & Company in the fourth quarter worth $32,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.
Wells Fargo & Company Company Profile
Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
Featured Articles
- Five stocks we like better than Wells Fargo & Company
- Are Penny Stocks a Good Fit for Your Portfolio?
- The 3 Hottest Insiders Buys This Month
- How to Invest in the FAANG Stocks
- What Bulls and Bears May Be Getting Wrong about SOFI Stock
- How to Most Effectively Use the MarketBeat Earnings Screener
- Microsoft Analysis: Trends, Predictions & Investment Insight
Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.