Investors Buy Wells Fargo & Co (WFC) on Weakness

Investors purchased shares of Wells Fargo & Co (NYSE:WFC) on weakness during trading hours on Friday. $149.39 million flowed into the stock on the tick-up and $88.89 million flowed out of the stock on the tick-down, for a money net flow of $60.50 million into the stock. Of all stocks tracked, Wells Fargo & Co had the 15th highest net in-flow for the day. Wells Fargo & Co traded down ($0.39) for the day and closed at $58.05

Several research analysts have weighed in on WFC shares. Zacks Investment Research cut shares of Wells Fargo & Co from a “buy” rating to a “hold” rating in a report on Monday, July 30th. Barclays lowered their price target on shares of Wells Fargo & Co from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, April 16th. Piper Jaffray Companies reissued a “hold” rating and issued a $58.00 price target on shares of Wells Fargo & Co in a report on Monday, April 16th. Keefe, Bruyette & Woods set a $55.00 price target on shares of Wells Fargo & Co and gave the company a “hold” rating in a report on Monday, April 16th. Finally, Morgan Stanley lowered their price target on shares of Wells Fargo & Co from $60.00 to $57.00 and set an “underweight” rating on the stock in a report on Monday, April 30th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $63.34.

The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.86 and a current ratio of 0.88. The stock has a market capitalization of $285.06 billion, a PE ratio of 13.88, a P/E/G ratio of 1.57 and a beta of 1.13.



The company also recently declared a quarterly dividend, which will be paid on Saturday, September 1st. Investors of record on Friday, August 10th will be given a dividend of $0.43 per share. This is a positive change from Wells Fargo & Co’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, August 9th. This represents a $1.72 annualized dividend and a dividend yield of 2.96%. Wells Fargo & Co’s dividend payout ratio (DPR) is currently 41.85%.

In related news, EVP Petros G. Pelos sold 25,567 shares of the stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $54.76, for a total transaction of $1,400,048.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.09% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ING Groep NV boosted its position in Wells Fargo & Co by 5.1% in the second quarter. ING Groep NV now owns 480,525 shares of the financial services provider’s stock valued at $26,640,000 after buying an additional 23,219 shares in the last quarter. Richard Bernstein Advisors LLC boosted its position in Wells Fargo & Co by 5.3% in the second quarter. Richard Bernstein Advisors LLC now owns 223,807 shares of the financial services provider’s stock valued at $12,408,000 after buying an additional 11,174 shares in the last quarter. Country Trust Bank boosted its position in Wells Fargo & Co by 11.6% in the second quarter. Country Trust Bank now owns 745,896 shares of the financial services provider’s stock valued at $41,352,000 after buying an additional 77,669 shares in the last quarter. Riverhead Capital Management LLC boosted its position in Wells Fargo & Co by 54.4% in the second quarter. Riverhead Capital Management LLC now owns 102,914 shares of the financial services provider’s stock valued at $5,705,000 after buying an additional 36,243 shares in the last quarter. Finally, Meadow Creek Investment Management LLC boosted its position in Wells Fargo & Co by 2.2% in the second quarter. Meadow Creek Investment Management LLC now owns 747,648 shares of the financial services provider’s stock valued at $41,450,000 after buying an additional 15,840 shares in the last quarter. Institutional investors and hedge funds own 76.28% of the company’s stock.

Wells Fargo & Co Company Profile

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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