Traders Buy Wells Fargo & Co (WFC) on Weakness

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Traders purchased shares of Wells Fargo & Co (NYSE:WFC) on weakness during trading on Tuesday. $262.97 million flowed into the stock on the tick-up and $176.97 million flowed out of the stock on the tick-down, for a money net flow of $86.00 million into the stock. Of all companies tracked, Wells Fargo & Co had the 10th highest net in-flow for the day. Wells Fargo & Co traded down ($0.09) for the day and closed at $51.56

Several research firms have weighed in on WFC. UBS Group set a $63.00 target price on Wells Fargo & Co and gave the company a “buy” rating in a research note on Friday, September 28th. Zacks Investment Research raised Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research note on Thursday, July 19th. BMO Capital Markets increased their target price on Wells Fargo & Co to $65.00 and gave the company a “market perform” rating in a research note on Monday, October 15th. Susquehanna Bancshares set a $63.00 target price on Wells Fargo & Co and gave the company a “hold” rating in a research note on Friday, July 13th. Finally, Keefe, Bruyette & Woods raised Wells Fargo & Co from a “market perform” rating to an “outperform” rating and increased their target price for the company from $57.00 to $63.00 in a research note on Sunday, July 15th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company. Wells Fargo & Co currently has a consensus rating of “Hold” and a consensus target price of $63.79.

The stock has a market capitalization of $257.98 billion, a P/E ratio of 12.55, a PEG ratio of 1.12 and a beta of 1.15. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.26.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings results on Friday, October 12th. The financial services provider reported $1.13 EPS for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.04). The business had revenue of $21.94 billion for the quarter, compared to analyst estimates of $21.90 billion. Wells Fargo & Co had a return on equity of 12.69% and a net margin of 23.17%. On average, equities research analysts predict that Wells Fargo & Co will post 4.5 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Friday, November 9th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.34%. Wells Fargo & Co’s dividend payout ratio is currently 41.85%.

In other news, EVP Hope A. Hardison sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 109 shares of the company’s stock, valued at $6,323.09. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Avid Modjtabai sold 100,000 shares of the firm’s stock in a transaction dated Friday, August 17th. The stock was 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. Company insiders own 0.09% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Landaas & Co. WI ADV acquired a new stake in Wells Fargo & Co in the 2nd quarter valued at approximately $117,000. Parkside Investments LLC acquired a new stake in Wells Fargo & Co in the 3rd quarter valued at approximately $174,000. Cerebellum GP LLC acquired a new stake in Wells Fargo & Co in the 3rd quarter valued at approximately $179,000. Stelac Advisory Services LLC raised its position in Wells Fargo & Co by 99.3% in the 1st quarter. Stelac Advisory Services LLC now owns 3,581 shares of the financial services provider’s stock valued at $188,000 after buying an additional 1,784 shares during the last quarter. Finally, Diligent Investors LLC acquired a new stake in Wells Fargo & Co in the 2nd quarter valued at approximately $200,000. 77.61% of the stock is currently owned by institutional investors.

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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