Wells Fargo & Company Target of Unusually High Options Trading (NYSE:WFC)

Wells Fargo & Company (NYSE:WFC) was the target of unusually large options trading activity on Friday. Stock investors bought 87,517 call options on the company. This represents an increase of 27% compared to the typical daily volume of 68,787 call options.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $64.53 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a 50-day moving average of $57.60 and a two-hundred day moving average of $58.25. The stock has a market cap of $224.97 billion, a P/E ratio of 13.25, a P/E/G ratio of 1.46 and a beta of 1.16. Wells Fargo & Company has a one year low of $38.62 and a one year high of $65.95.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The firm had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 earnings per share. As a group, research analysts predict that Wells Fargo & Company will post 5.36 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 32.85%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WFC. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and dropped their price objective for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Evercore ISI boosted their price target on Wells Fargo & Company from $68.00 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. The Goldman Sachs Group dropped their price objective on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their target price for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Thirteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $61.82.

Insiders Place Their Bets

In other news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the sale, the executive vice president now owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the transaction, the executive vice president now owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the completion of the sale, the executive vice president now owns 163,610 shares of the company’s stock, valued at $10,421,957. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Institutional Trading of Wells Fargo & Company

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Brookstone Capital Management lifted its holdings in shares of Wells Fargo & Company by 6.9% in the 1st quarter. Brookstone Capital Management now owns 19,476 shares of the financial services provider’s stock valued at $1,129,000 after buying an additional 1,263 shares during the period. Sovereign Financial Group Inc. acquired a new position in Wells Fargo & Company in the first quarter valued at approximately $218,000. Wealthcare Advisory Partners LLC boosted its position in Wells Fargo & Company by 3.0% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 13,414 shares of the financial services provider’s stock worth $778,000 after purchasing an additional 391 shares in the last quarter. Thrive Wealth Management LLC grew its stake in shares of Wells Fargo & Company by 10.7% during the 1st quarter. Thrive Wealth Management LLC now owns 7,618 shares of the financial services provider’s stock worth $442,000 after purchasing an additional 737 shares during the period. Finally, Transform Wealth LLC increased its holdings in shares of Wells Fargo & Company by 42.6% during the 1st quarter. Transform Wealth LLC now owns 6,362 shares of the financial services provider’s stock valued at $369,000 after purchasing an additional 1,902 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.