Investors Sell Shares of Wells Fargo & Co (WFC) on Strength (WFC)

Traders sold shares of Wells Fargo & Co (NYSE:WFC) on strength during trading on Friday. $335.41 million flowed into the stock on the tick-up and $513.70 million flowed out of the stock on the tick-down, for a money net flow of $178.29 million out of the stock. Of all companies tracked, Wells Fargo & Co had the 0th highest net out-flow for the day. Wells Fargo & Co traded up $0.73 for the day and closed at $56.13

A number of research analysts have commented on WFC shares. Sandler O’Neill upgraded shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and raised their price target for the stock from $62.04 to $73.00 in a research note on Tuesday, January 9th. Sanford C. Bernstein upgraded shares of Wells Fargo & Co from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $64.00 to $69.00 in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. cut shares of Wells Fargo & Co from a “neutral” rating to an “underweight” rating in a research note on Monday, February 5th. Morgan Stanley raised their price target on shares of Wells Fargo & Co from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Finally, Vertical Group upgraded shares of Wells Fargo & Co from a “sell” rating to a “buy” rating in a research note on Thursday, December 7th. Six investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the stock. Wells Fargo & Co presently has a consensus rating of “Hold” and a consensus target price of $62.90.

The company has a quick ratio of 0.88, a current ratio of 0.90 and a debt-to-equity ratio of 1.23. The firm has a market cap of $294,180.00, a PE ratio of 14.46, a price-to-earnings-growth ratio of 1.52 and a beta of 1.01.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 earnings per share 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 company had revenue of $22.05 billion during the quarter, compared to the consensus estimate of $22.64 billion. During the same quarter last year, the firm earned $0.96 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. research analysts anticipate that Wells Fargo & Co will post 4.72 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 2nd will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Thursday, February 1st. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 37.77%.

Wells Fargo & Co announced that its board has approved a share repurchase program on Tuesday, January 23rd that allows the company to buyback 350,000,000 shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WFC. Smithfield Trust Co. grew its holdings in shares of Wells Fargo & Co by 2.1% in the 2nd quarter. Smithfield Trust Co. now owns 41,621 shares of the financial services provider’s stock valued at $2,306,000 after buying an additional 837 shares during the period. Perennial Advisors LLC lifted its position in Wells Fargo & Co by 4.9% in the 2nd quarter. Perennial Advisors LLC now owns 24,902 shares of the financial services provider’s stock valued at $1,380,000 after acquiring an additional 1,159 shares in the last quarter. First Bank & Trust lifted its position in Wells Fargo & Co by 0.6% in the 2nd quarter. First Bank & Trust now owns 20,530 shares of the financial services provider’s stock valued at $1,138,000 after acquiring an additional 120 shares in the last quarter. Palladium Partners LLC lifted its position in Wells Fargo & Co by 1.3% in the 2nd quarter. Palladium Partners LLC now owns 368,829 shares of the financial services provider’s stock valued at $20,437,000 after acquiring an additional 4,846 shares in the last quarter. Finally, Novare Capital Management LLC lifted its position in Wells Fargo & Co by 2.9% in the 2nd quarter. Novare Capital Management LLC now owns 95,146 shares of the financial services provider’s stock valued at $5,272,000 after acquiring an additional 2,687 shares in the last quarter. 76.00% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: “Investors Sell Shares of Wells Fargo & Co (WFC) on Strength (WFC)” was first published by Markets Daily and is owned by of Markets Daily. If you are reading this story on another site, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The legal version of this story can be viewed at https://www.themarketsdaily.com/2018/02/10/traders-sell-shares-of-wells-fargo-co-wfc-on-strength-wfc.html.

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.

Receive News & Ratings for Wells Fargo & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply