Wells Fargo & Company (NYSE:WFC) Short Interest Update

Wells Fargo & Company (NYSE:WFC) saw a significant decline in short interest during the month of January. As of January 15th, there was short interest totaling 33,658,519 shares, a decline of 12.3% from the December 31st total of 38,360,053 shares. Based on an average daily volume of 16,671,189 shares, the short-interest ratio is currently 2.0 days. Currently, 1.1% of the shares of the stock are short sold. Currently, 1.1% of the shares of the stock are short sold. Based on an average daily volume of 16,671,189 shares, the short-interest ratio is currently 2.0 days.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Wednesday, October 15th. Argus increased their price target on shares of Wells Fargo & Company from $94.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Robert W. Baird lowered Wells Fargo & Company from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 6th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Wednesday, January 21st. Finally, Truist Financial lowered their price objective on Wells Fargo & Company from $104.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, January 15th. Thirteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and an average target price of $94.87.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Access Investment Management LLC purchased a new position in shares of Wells Fargo & Company during the second quarter worth approximately $25,000. McElhenny Sheffield Capital Management LLC purchased a new position in Wells Fargo & Company during the 2nd quarter worth $27,000. Redmont Wealth Advisors LLC purchased a new position in Wells Fargo & Company during the 3rd quarter worth $27,000. Marquette Asset Management LLC raised its position in Wells Fargo & Company by 472.4% during the 3rd quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 274 shares in the last quarter. Finally, Joseph Group Capital Management purchased a new stake in shares of Wells Fargo & Company in the 4th quarter worth $28,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 1.9%

Shares of NYSE:WFC opened at $92.25 on Tuesday. The firm has a market capitalization of $289.59 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 0.99 and a beta of 1.09. The business has a 50 day simple moving average of $91.06 and a two-hundred day simple moving average of $85.38. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $97.76. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.84.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.10. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The firm had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $21.63 billion. During the same period in the prior year, the business posted $1.43 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 6th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, February 6th. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.71%.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.