Short Interest in Wells Fargo & Company (NYSE:WFC) Decreases By 16.7%

Wells Fargo & Company (NYSE:WFC) was the target of a large drop in short interest during the month of February. As of February 13th, there was short interest totaling 26,656,825 shares, a drop of 16.7% from the January 29th total of 31,999,574 shares. Based on an average daily volume of 15,560,221 shares, the short-interest ratio is currently 1.7 days. Currently, 0.8% of the shares of the company are short sold. Currently, 0.8% of the shares of the company are short sold. Based on an average daily volume of 15,560,221 shares, the short-interest ratio is currently 1.7 days.

Insider Buying and Selling

In other news, EVP Bridget E. Engle sold 30,000 shares of Wells Fargo & Company stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the completion of the transaction, the executive vice president directly owned 83,478 shares in the company, valued at approximately $7,270,933.80. The trade was a 26.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ellen R. Patterson sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $87.40, for a total value of $5,244,000.00. Following the transaction, the executive vice president directly owned 169,496 shares in the company, valued at $14,813,950.40. The trade was a 26.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 115,000 shares of company stock worth $10,050,000. Company insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On Wells Fargo & Company

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Godfrey Financial Associates Inc. acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth $25,000. Miller Capital Partners Inc. acquired a new position in Wells Fargo & Company during the fourth quarter worth about $25,000. Navalign LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth about $26,000. Joseph Group Capital Management acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $28,000. Finally, Core Wealth Advisors LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at approximately $29,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Up 1.3%

Shares of NYSE:WFC opened at $82.53 on Tuesday. The business’s 50 day simple moving average is $90.49 and its 200 day simple moving average is $86.53. 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 0.90. The company has a market capitalization of $254.67 billion, a P/E ratio of 13.16, a P/E/G ratio of 0.89 and a beta of 1.08.

Wells Fargo & Company (NYSE:WFCGet Free Report) last released its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. The firm had revenue of $21.29 billion during the quarter, compared to the consensus estimate of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.During the same period in the prior year, the company posted $1.43 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. On average, research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, March 1st. Stockholders of record on Friday, February 6th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, February 6th. Wells Fargo & Company’s dividend payout ratio is 28.71%.

Key Wells Fargo & Company News

Here are the key news stories impacting Wells Fargo & Company this week:

Analyst Ratings Changes

WFC has been the topic of several research reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $100.00 price objective on shares of Wells Fargo & Company in a report on Thursday, January 15th. Argus upped their price target on shares of Wells Fargo & Company from $94.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Robert W. Baird upgraded shares of Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 price objective for the company in a research report on Friday, February 13th. JPMorgan Chase & Co. upped their target price on Wells Fargo & Company from $99.00 to $99.50 and gave the company a “neutral” rating in a research report on Monday, February 9th. Finally, Truist Financial lowered their target price on Wells Fargo & Company from $104.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, January 15th. Thirteen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.03.

View Our Latest Analysis on Wells Fargo & Company

Wells Fargo & Company Company Profile

(Get Free Report)

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.

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