Traders Sell Wells Fargo & Company (WFC) on Strength Following Insider Selling

Traders sold shares of Wells Fargo & Company (NYSE:WFC) on strength during trading on Wednesday following insider selling activity. $163.72 million flowed into the stock on the tick-up and $269.02 million flowed out of the stock on the tick-down, for a money net flow of $105.30 million out of the stock. Of all companies tracked, Wells Fargo & Company had the 0th highest net out-flow for the day. Wells Fargo & Company traded up $0.02 for the day and closed at $58.57Specifically, insider Michael J. Loughlin sold 17,482 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $57.80, for a total value of $1,010,459.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John R. Shrewsberry sold 70,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.90, for a total transaction of $3,983,000.00. The disclosure for this sale can be found here. Insiders sold 184,482 shares of company stock worth $10,471,050 over the last three months. 0.22% of the stock is owned by insiders.

Several analysts have commented on WFC shares. Vetr upgraded shares of Wells Fargo & Company to a “strong-buy” rating in a report on Thursday, September 7th. Keefe, Bruyette & Woods restated a “buy” rating on shares of Wells Fargo & Company in a report on Wednesday, August 16th. Goldman Sachs Group restated a “buy” rating on shares of Wells Fargo & Company in a report on Wednesday, October 11th. Robert W. Baird restated a “buy” rating and issued a $58.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, September 5th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $60.00 price objective on shares of Wells Fargo & Company in a report on Wednesday, November 15th. Six equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $57.25.

The stock has a market cap of $289,120.00, a PE ratio of 13.86, a price-to-earnings-growth ratio of 1.38 and a beta of 0.96. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.91.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). The firm had revenue of $21.93 billion for 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%. Wells Fargo & Company’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the business earned $1.03 EPS. equities research analysts predict that Wells Fargo & Company will post 3.97 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 3rd were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.66%. The ex-dividend date was Thursday, November 2nd. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 40.31%.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Delphi Private Advisors LLC grew its position in Wells Fargo & Company by 262.8% in the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 1,461 shares during the period. Brick & Kyle Associates grew its position in Wells Fargo & Company by 9.5% in the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 162 shares during the period. Stelac Advisory Services LLC bought a new stake in Wells Fargo & Company in the 2nd quarter worth approximately $104,000. Patriot Financial Group Insurance Agency LLC grew its position in Wells Fargo & Company by 0.3% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 6 shares during the period. Finally, Clear Investment Research LLC bought a new stake in Wells Fargo & Company in the 2nd quarter worth approximately $121,000. 75.77% of the stock is owned by institutional investors.

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About Wells Fargo & Company

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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