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

Investors sold shares of Wells Fargo & Co (NYSE:WFC) on strength during trading hours on Monday. $134.31 million flowed into the stock on the tick-up and $401.66 million flowed out of the stock on the tick-down, for a money net flow of $267.35 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 $0.37 for the day and closed at $56.50

Several research firms recently commented on WFC. Morgan Stanley cut shares of Wells Fargo & Co from an “overweight” rating to an “underweight” rating and cut their price objective for the company from $75.00 to $64.00 in a research report on Tuesday, February 6th. Zacks Investment Research lowered shares of Wells Fargo & Co from a “buy” rating to a “hold” rating in a research note on Tuesday. UBS Group set a $63.00 target price on shares of Wells Fargo & Co and gave the stock a “hold” rating in a research note on Monday, February 5th. Vetr upgraded shares of Wells Fargo & Co from a “strong sell” rating to a “sell” rating and set a $54.78 target price for the company in a research note on Monday, February 5th. Finally, Royal Bank of Canada downgraded shares of Wells Fargo & Co from an “outperform” rating to an “underperform” rating in a research note on Monday, February 5th. 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 stock. The stock presently has an average rating of “Hold” and an average target price of $62.90.

The firm has a market cap of $294,180.00, a P/E ratio of 14.46, a P/E/G ratio of 1.52 and a beta of 1.01. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 1.23.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.07). The firm had revenue of $22.05 billion for the quarter, compared to analysts’ expectations of $22.64 billion. Wells Fargo & Co had a net margin of 22.57% and a return on equity of 12.24%. Wells Fargo & Co’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.96 EPS. sell-side analysts anticipate that Wells Fargo & Co will post 4.72 EPS for the current year.

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

Wells Fargo & Co declared that its Board of Directors has approved a stock repurchase plan on Tuesday, January 23rd that permits the company to buyback 350,000,000 shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

In other news, Director Ronald Sargent acquired 9,000 shares of Wells Fargo & Co stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average price of $55.98 per share, with a total value of $503,820.00. Following the completion of the purchase, the director now owns 81 shares in the company, valued at $4,534.38. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Richard Levy sold 97,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.47, for a total transaction of $5,477,590.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 184,482 shares of company stock valued at $10,471,050. 0.22% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of WFC. Patriot Financial Group Insurance Agency LLC grew its stake in Wells Fargo & Co by 0.3% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after buying an additional 6 shares in the last quarter. Winch Advisory Services LLC grew its stake in Wells Fargo & Co by 0.7% in the 2nd quarter. Winch Advisory Services LLC now owns 2,776 shares of the financial services provider’s stock worth $154,000 after buying an additional 20 shares in the last quarter. Jackson Grant Investment Advisers Inc. grew its stake in Wells Fargo & Co by 0.5% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 4,954 shares of the financial services provider’s stock worth $274,000 after buying an additional 26 shares in the last quarter. Financial Advisory Group grew its stake in Wells Fargo & Co by 0.7% in the 2nd quarter. Financial Advisory Group now owns 5,029 shares of the financial services provider’s stock worth $279,000 after buying an additional 35 shares in the last quarter. Finally, Financial Advisory Service Inc. grew its stake in Wells Fargo & Co by 0.6% in the 2nd quarter. Financial Advisory Service Inc. now owns 7,067 shares of the financial services provider’s stock worth $392,000 after buying an additional 42 shares in the last quarter. 76.00% of the stock is owned by institutional investors.

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Wells Fargo & Co Company Profile

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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