Investors Sell Wells Fargo & Company (WFC) on Strength (WFC)
Traders sold shares of Wells Fargo & Company (NYSE:WFC) on strength during trading hours on Friday. $39.24 million flowed into the stock on the tick-up and $58.55 million flowed out of the stock on the tick-down, for a money net flow of $19.31 million out of the stock. Of all companies tracked, Wells Fargo & had the 16th highest net out-flow for the day. Wells Fargo & traded up $0.03 for the day and closed at $54.09
Several equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Wells Fargo & in a research note on Wednesday, August 16th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Wells Fargo & in a research note on Wednesday, October 11th. Vetr raised Wells Fargo & from a “sell” rating to a “hold” rating and set a $54.49 price objective for the company in a research note on Tuesday, October 24th. Vertical Group assumed coverage on Wells Fargo & in a research note on Friday, October 6th. They issued a “sell” rating for the company. Finally, Credit Suisse Group reaffirmed a “hold” rating and issued a $57.00 price objective on shares of Wells Fargo & in a research note on Tuesday, October 10th. Six investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $57.20.
The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89. The stock has a market capitalization of $266,550.00, a P/E ratio of 13.06, a PEG ratio of 1.30 and a beta of 0.97.
Wells Fargo & (NYSE:WFC) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.20). Wells Fargo & had a return on equity of 12.59% and a net margin of 22.00%. The business had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $22.30 billion. During the same period in the prior year, the business posted $1.03 earnings per share. Wells Fargo &’s revenue was down 1.8% on a year-over-year basis. research analysts anticipate that Wells Fargo & Company will post 3.97 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 3rd will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Thursday, November 2nd. Wells Fargo &’s dividend payout ratio is currently 40.31%.
A number of hedge funds and other institutional investors have recently modified their holdings of WFC. Boston Partners raised its position in Wells Fargo & by 140.1% during the 2nd quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock valued at $1,057,700,000 after purchasing an additional 11,139,780 shares in the last quarter. Capital World Investors raised its position in Wells Fargo & by 10.8% during the 2nd quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock valued at $6,192,259,000 after purchasing an additional 10,927,679 shares in the last quarter. Capital Research Global Investors raised its position in Wells Fargo & by 19.7% during the 2nd quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock valued at $2,511,614,000 after purchasing an additional 7,445,414 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Wells Fargo & by 26.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider’s stock valued at $1,653,464,000 after purchasing an additional 6,291,906 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in Wells Fargo & by 396.3% during the 2nd quarter. Janus Henderson Group PLC now owns 5,894,918 shares of the financial services provider’s stock valued at $326,655,000 after purchasing an additional 4,707,207 shares in the last quarter. 74.88% of the stock is owned by institutional investors and hedge funds.
About Wells Fargo &
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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