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.
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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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