Short Interest in Wells Fargo & Company (WFC) Expands By 17.8%

Wells Fargo & Company (NYSE:WFC) was the recipient of a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 34,527,166 shares, an increase of 17.8% from the November 15th total of 29,308,791 shares. Based on an average daily volume of 18,705,308 shares, the short-interest ratio is presently 1.8 days. Approximately 0.7% of the shares of the company are sold short.

Several analysts have weighed in on the stock. Vertical Group upgraded shares of Wells Fargo & Company from a “sell” rating to a “buy” rating in a research note on Thursday, December 7th. Vetr upgraded shares of Wells Fargo & Company from a “sell” rating to a “strong-buy” rating in a research report on Monday, November 6th. Zacks Investment Research upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Goldman Sachs Group restated a “buy” rating on shares of Wells Fargo & Company in a research report on Wednesday, October 11th. Finally, Robert W. Baird restated a “buy” rating and set a $58.00 price target on shares of Wells Fargo & Company in a research report on Friday, October 6th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $57.25.

Wells Fargo & Company (NYSE:WFC) opened at $59.87 on Friday. The stock has a market cap of $298,270.00, a PE ratio of 14.30, a P/E/G ratio of 1.42 and a beta of 0.96. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89. Wells Fargo & Company has a 12-month low of $49.27 and a 12-month high of $60.65.

Wells Fargo & Company (NYSE:WFC) last announced its 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). The company had revenue of $21.93 billion during the quarter, compared to the consensus estimate of $22.30 billion. Wells Fargo & Company had a net margin of 22.00% and a return on equity of 12.59%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS. equities analysts forecast that Wells Fargo & Company will post 3.97 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 3rd were given a $0.39 dividend. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 2.61%. Wells Fargo & Company’s dividend payout ratio is presently 40.31%.

In other Wells Fargo & Company news, insider John R. Shrewsberry sold 70,000 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $56.90, for a total transaction of $3,983,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael J. Loughlin sold 17,482 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $57.80, for a total transaction of $1,010,459.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 184,482 shares of company stock valued at $10,471,050. 0.22% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. C WorldWide Group Holding A S lifted its holdings in Wells Fargo & Company by 11.8% in the 1st quarter. C WorldWide Group Holding A S now owns 5,314,670 shares of the financial services provider’s stock valued at $295,814,000 after acquiring an additional 559,931 shares during the last quarter. Webster Bank N. A. lifted its holdings in Wells Fargo & Company by 2.5% in the 1st quarter. Webster Bank N. A. now owns 49,707 shares of the financial services provider’s stock valued at $2,766,000 after acquiring an additional 1,190 shares during the last quarter. Eads & Heald Investment Counsel lifted its holdings in Wells Fargo & Company by 7.3% in the 1st quarter. Eads & Heald Investment Counsel now owns 27,578 shares of the financial services provider’s stock valued at $1,535,000 after acquiring an additional 1,870 shares during the last quarter. APG Asset Management N.V. lifted its holdings in Wells Fargo & Company by 10.1% in the 1st quarter. APG Asset Management N.V. now owns 6,905,782 shares of the financial services provider’s stock valued at $384,376,000 after acquiring an additional 635,436 shares during the last quarter. Finally, Grimes & Company Inc. lifted its holdings in Wells Fargo & Company by 15.8% in the 1st quarter. Grimes & Company Inc. now owns 7,428 shares of the financial services provider’s stock valued at $413,000 after acquiring an additional 1,012 shares during the last quarter. Hedge funds and other institutional investors own 75.77% of the company’s stock.

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Wells Fargo & Company 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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