Traders Buy Wells Fargo & Co (WFC) on Weakness
Investors bought shares of Wells Fargo & Co (NYSE:WFC) on weakness during trading hours on Monday. $302.39 million flowed into the stock on the tick-up and $152.73 million flowed out of the stock on the tick-down, for a money net flow of $149.66 million into the stock. Of all equities tracked, Wells Fargo & Co had the 5th highest net in-flow for the day. Wells Fargo & Co traded down ($0.73) for the day and closed at $54.26
A number of equities analysts recently issued reports on WFC shares. Edward Jones upgraded Wells Fargo & Co from a “hold” rating to a “buy” rating in a report on Monday, September 17th. Zacks Investment Research cut Wells Fargo & Co from a “hold” rating to a “sell” rating in a report on Tuesday, September 18th. Macquarie cut their target price on Wells Fargo & Co from $63.00 to $62.00 and set a “neutral” rating on the stock in a report on Monday, September 17th. Morgan Stanley upgraded Wells Fargo & Co from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $57.00 to $62.00 in a report on Monday, July 2nd. Finally, Susquehanna Bancshares set a $63.00 target price on Wells Fargo & Co and gave the stock a “hold” rating in a report on Friday, July 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. Wells Fargo & Co presently has an average rating of “Hold” and an average target price of $63.28.
The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.22. The company has a market cap of $268.23 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 1.49 and a beta of 1.12.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 1st. Shareholders of record on Friday, August 10th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, August 9th. This is a boost from Wells Fargo & Co’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 3.17%. Wells Fargo & Co’s dividend payout ratio (DPR) is 41.85%.
In other Wells Fargo & Co news, EVP Hope A. Hardison sold 25,000 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $58.01, for a total transaction of $1,450,250.00. Following the transaction, the executive vice president now directly owns 109 shares in the company, valued at approximately $6,323.09. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Avid Modjtabai sold 100,000 shares of the firm’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $58.71, for a total value of $5,871,000.00. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WFC. Coyle Financial Counsel LLC bought a new stake in shares of Wells Fargo & Co during the 1st quarter worth $101,000. Landaas & Co. WI ADV bought a new stake in shares of Wells Fargo & Co during the 2nd quarter worth $117,000. Stelac Advisory Services LLC raised its stake in shares of Wells Fargo & Co by 99.3% during the 1st quarter. Stelac Advisory Services LLC now owns 3,581 shares of the financial services provider’s stock worth $188,000 after purchasing an additional 1,784 shares during the period. Diligent Investors LLC bought a new stake in shares of Wells Fargo & Co during the 2nd quarter worth $200,000. Finally, Day & Ennis LLC bought a new stake in shares of Wells Fargo & Co during the 2nd quarter worth $202,000. Institutional investors own 77.52% of the company’s stock.
Wells Fargo & Co Company Profile (NYSE:WFC)
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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