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

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Investors purchased shares of Wells Fargo & Co (NYSE:WFC) on weakness during trading hours on Thursday. $454.68 million flowed into the stock on the tick-up and $237.53 million flowed out of the stock on the tick-down, for a money net flow of $217.15 million into the stock. Of all companies tracked, Wells Fargo & Co had the 3rd highest net in-flow for the day. Wells Fargo & Co traded down ($0.69) for the day and closed at $51.09

Several equities analysts recently weighed in on the stock. UBS Group set a $63.00 target price on shares of Wells Fargo & Co and gave the company a “buy” rating in a report on Friday, September 28th. BMO Capital Markets boosted their price objective on shares of Wells Fargo & Co to $65.00 and gave the stock a “market perform” rating in a report on Monday, October 15th. Macquarie lowered shares of Wells Fargo & Co from an “outperform” rating to a “neutral” rating in a report on Friday, September 7th. They noted that the move was a valuation call. ValuEngine lowered shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a report on Friday, September 28th. Finally, Wolfe Research started coverage on shares of Wells Fargo & Co in a report on Tuesday, September 25th. They issued an “outperform” rating on the stock. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $63.61.

The company has a market cap of $249.20 billion, a PE ratio of 12.23, a PEG ratio of 1.02 and a beta of 1.00. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 0.87.

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

The business also recently announced a quarterly dividend, which was paid on Saturday, December 1st. Stockholders of record on Friday, November 9th were paid a $0.43 dividend. The ex-dividend date was Thursday, November 8th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.42%. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 41.85%.

Wells Fargo & Co announced that its Board of Directors has initiated a share repurchase plan 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. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Institutional investors have recently modified their holdings of the company. Sageworth Trust Co raised its stake in shares of Wells Fargo & Co by 257.9% in the 3rd quarter. Sageworth Trust Co now owns 2,151 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 1,550 shares in the last quarter. Landaas & Co. WI ADV bought a new stake in shares of Wells Fargo & Co during the 2nd quarter valued at about $117,000. Lee Financial Co grew its position in shares of Wells Fargo & Co by 433.4% during the 3rd quarter. Lee Financial Co now owns 2,507 shares of the financial services provider’s stock valued at $132,000 after buying an additional 2,037 shares during the last quarter. Almanack Investment Partners LLC. bought a new stake in shares of Wells Fargo & Co during the 3rd quarter valued at about $141,000. Finally, Parkside Investments LLC bought a new stake in shares of Wells Fargo & Co during the 3rd quarter valued at about $174,000. Institutional investors and hedge funds own 73.02% of the company’s stock.

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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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