Investors Buy Shares of Wells Fargo & Co (WFC) on Weakness

Traders bought shares of Wells Fargo & Co (NYSE:WFC) on weakness during trading hours on Thursday. $353.93 million flowed into the stock on the tick-up and $221.55 million flowed out of the stock on the tick-down, for a money net flow of $132.38 million into the stock. Of all companies tracked, Wells Fargo & Co had the 6th highest net in-flow for the day. Wells Fargo & Co traded down ($0.99) for the day and closed at $51.44

A number of research analysts have recently issued reports on WFC shares. Wolfe Research started coverage on Wells Fargo & Co in a report on Tuesday, September 25th. They issued an “outperform” rating on the stock. Zacks Investment Research lowered Wells Fargo & Co from a “hold” rating to a “sell” rating in a report on Tuesday, September 18th. UBS Group set a $63.00 price objective on Wells Fargo & Co and gave the stock a “buy” rating in a report on Friday, September 28th. Keefe, Bruyette & Woods raised Wells Fargo & Co from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $57.00 to $63.00 in a report on Sunday, July 15th. They noted that the move was a valuation call. Finally, Susquehanna Bancshares set a $63.00 price objective on Wells Fargo & Co and gave the stock a “hold” rating in a report on Friday, July 13th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $64.22.

The firm has a market capitalization of $256.37 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 1.43 and a beta of 1.15. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.88 and a quick ratio of 0.86.

Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings data on Friday, October 12th. The financial services provider reported $1.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.04). Wells Fargo & Co had a return on equity of 12.38% and a net margin of 22.03%. The business had revenue of $21.94 billion for the quarter, compared to analyst estimates of $21.90 billion. As a group, research analysts predict that Wells Fargo & Co will post 4.55 earnings per share for the current fiscal year.

In other Wells Fargo & Co news, EVP Hope A. Hardison sold 25,000 shares of the company’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $58.01, for a total value 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Avid Modjtabai sold 100,000 shares of the company’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 corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. Berkshire Asset Management LLC PA lifted its position in shares of Wells Fargo & Co by 3.3% in the third quarter. Berkshire Asset Management LLC PA now owns 507,054 shares of the financial services provider’s stock valued at $26,651,000 after acquiring an additional 16,315 shares in the last quarter. Lau Associates LLC purchased a new stake in shares of Wells Fargo & Co in the third quarter valued at $441,000. Laurel Grove Capital LLC lifted its position in shares of Wells Fargo & Co by 17.4% in the third quarter. Laurel Grove Capital LLC now owns 20,250 shares of the financial services provider’s stock valued at $1,064,000 after acquiring an additional 3,000 shares in the last quarter. Busey Trust CO lifted its position in shares of Wells Fargo & Co by 3.6% in the third quarter. Busey Trust CO now owns 32,104 shares of the financial services provider’s stock valued at $1,688,000 after acquiring an additional 1,113 shares in the last quarter. Finally, Rathbone Brothers plc lifted its position in shares of Wells Fargo & Co by 114.7% in the third quarter. Rathbone Brothers plc now owns 53,353 shares of the financial services provider’s stock valued at $2,804,000 after acquiring an additional 28,500 shares in the last quarter. 77.57% 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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