Traders Sell Wells Fargo & Co (WFC) on Strength (WFC)

Investors sold shares of Wells Fargo & Co (NYSE:WFC) on strength during trading on Friday. $138.02 million flowed into the stock on the tick-up and $253.01 million flowed out of the stock on the tick-down, for a money net flow of $114.99 million out of the stock. Of all companies tracked, Wells Fargo & Co had the 4th highest net out-flow for the day. Wells Fargo & Co traded up $0.12 for the day and closed at $47.87

Several equities analysts have commented on WFC shares. UBS Group set a $63.00 price objective on shares of Wells Fargo & Co and gave the company a “buy” rating in a research report on Friday, September 28th. Edward Jones upgraded shares of Wells Fargo & Co from a “hold” rating to a “buy” rating in a research report on Monday, September 17th. Nomura lowered their price objective on shares of Wells Fargo & Co from $68.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, October 15th. Citigroup upgraded shares of Wells Fargo & Co from a “neutral” rating to a “buy” rating in a research report on Friday, November 2nd. Finally, Robert W. Baird reiterated a “buy” rating and set a $59.00 price objective on shares of Wells Fargo & Co in a research report on Wednesday, January 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $61.93.

The company has a market cap of $233.16 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 0.84 and a beta of 1.10. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Friday, October 12th. The financial services provider reported $1.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.17 by ($0.04). The company had revenue of $21.94 billion during the quarter, compared to analysts’ expectations of $21.90 billion. Wells Fargo & Co had a return on equity of 12.69% and a net margin of 23.17%. Analysts anticipate that Wells Fargo & Co will post 4.49 earnings per share for the current fiscal year.

Wells Fargo & Co declared that its board has approved a stock buyback program on Tuesday, October 23rd that authorizes the company to repurchase 350,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge funds have recently bought and sold shares of the stock. AMI Investment Management Inc. grew its holdings in Wells Fargo & Co by 1.5% during the 2nd quarter. AMI Investment Management Inc. now owns 153,898 shares of the financial services provider’s stock worth $8,532,000 after acquiring an additional 2,319 shares in the last quarter. Ausdal Financial Partners Inc. grew its holdings in Wells Fargo & Co by 36.7% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 18,841 shares of the financial services provider’s stock worth $1,045,000 after acquiring an additional 5,054 shares in the last quarter. Accuvest Global Advisors grew its holdings in Wells Fargo & Co by 7,410.2% during the 2nd quarter. Accuvest Global Advisors now owns 7,360 shares of the financial services provider’s stock worth $408,000 after acquiring an additional 7,262 shares in the last quarter. Olstein Capital Management L.P. grew its holdings in Wells Fargo & Co by 2.2% during the 2nd quarter. Olstein Capital Management L.P. now owns 138,000 shares of the financial services provider’s stock worth $7,651,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Price Wealth Management Inc. grew its holdings in Wells Fargo & Co by 20.3% during the 2nd quarter. Price Wealth Management Inc. now owns 6,150 shares of the financial services provider’s stock worth $341,000 after acquiring an additional 1,038 shares in the last quarter. 72.97% of the stock is currently owned by institutional investors.

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About Wells Fargo & Co (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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