Wells Fargo & Co Sees Unusually High Options Volume (WFC)

Wells Fargo & Co (NYSE:WFC) was the target of unusually large options trading activity on Tuesday. Investors bought 24,838 call options on the company. This represents an increase of 113% compared to the average daily volume of 11,645 call options.

Shares of Wells Fargo & Co (NYSE:WFC) traded down 1.44% on Tuesday, hitting $53.46. The stock had a trading volume of 13,610,683 shares. The firm’s 50-day moving average is $53.39 and its 200-day moving average is $55.31. The company has a market cap of $267.16 billion, a price-to-earnings ratio of 13.36 and a beta of 0.97. Wells Fargo & Co has a one year low of $43.55 and a one year high of $59.99.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Thursday, April 13th. The financial services provider reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.03. Wells Fargo & Co had a return on equity of 11.55% and a net margin of 25.22%. The firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.25 billion. During the same period in the previous year, the business earned $0.99 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. On average, analysts expect that Wells Fargo & Co will post $4.15 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 5th were paid a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, May 3rd. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.84%. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 38.00%.

A number of brokerages have commented on WFC. Piper Jaffray Companies reduced their target price on shares of Wells Fargo & Co from $55.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, April 18th. Keefe, Bruyette & Woods upgraded Wells Fargo & Co from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $53.00 to $63.00 in a research note on Wednesday, April 5th. Jefferies Group LLC restated a “hold” rating and set a $62.00 price target on shares of Wells Fargo & Co in a research note on Wednesday, April 5th. Instinet dropped their price target on Wells Fargo & Co from $65.00 to $64.00 and set a “buy” rating on the stock in a research note on Wednesday, April 19th. Finally, Vetr lowered Wells Fargo & Co from a “buy” rating to a “hold” rating and set a $54.80 price target on the stock. in a research note on Monday, June 12th. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $55.37.

In other news, Director Ronald Sargent bought 9,050 shares of Wells Fargo & Co stock in a transaction on Friday, May 5th. The stock was acquired at an average cost of $55.15 per share, for a total transaction of $499,107.50. Following the completion of the acquisition, the director now owns 81 shares of the company’s stock, valued at approximately $4,467.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy J. Sloan bought 39,000 shares of Wells Fargo & Co stock in a transaction on Monday, April 17th. The stock was purchased at an average price of $51.65 per share, with a total value of $2,014,350.00. Following the completion of the acquisition, the chief executive officer now directly owns 754,581 shares of the company’s stock, valued at approximately $38,974,108.65. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 106,392 shares of company stock valued at $5,526,822 and sold 231,278 shares valued at $12,361,120. Insiders own 0.22% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Smith Asset Management Group LP increased its stake in Wells Fargo & Co by 4.0% in the first quarter. Smith Asset Management Group LP now owns 1,820 shares of the financial services provider’s stock worth $101,000 after buying an additional 70 shares during the period. Alexandria Capital LLC increased its stake in Wells Fargo & Co by 0.3% in the first quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock worth $102,000 after buying an additional 6 shares during the period. Trent Capital Management Inc. NC acquired a new stake in Wells Fargo & Co during the fourth quarter worth $102,000. Rocky Mountain Advisers LLC increased its stake in Wells Fargo & Co by 117.6% in the fourth quarter. Rocky Mountain Advisers LLC now owns 1,850 shares of the financial services provider’s stock worth $102,000 after buying an additional 1,000 shares during the period. Finally, Brick & Kyle Associates increased its stake in Wells Fargo & Co by 9.5% in the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after buying an additional 162 shares during the period. Hedge funds and other institutional investors own 75.94% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Wells Fargo & Co Sees Unusually High Options Volume (WFC)” was first reported by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of United States and international copyright and trademark legislation. The correct version of this piece of content can be accessed at https://sportsperspectives.com/2017/06/20/wells-fargo-co-sees-unusually-high-options-volume-wfc.html.

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.

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