Traders Purchase Large Volume of Call Options on Wells Fargo & Company (NYSE:WFC)

Wells Fargo & Company (NYSE:WFC) saw some unusual options trading on Monday. Stock investors bought 93,652 call options on the company. This represents an increase of 84% compared to the typical daily volume of 50,927 call options.

Insider Transactions at Wells Fargo & Company

In related news, EVP Kleber Santos sold 25,000 shares of Wells Fargo & Company stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $87.72, for a total value of $2,193,000.00. Following the sale, the executive vice president owned 79,876 shares of the company’s stock, valued at approximately $7,006,722.72. This trade represents a 23.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bridget E. Engle sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $87.10, for a total value of $2,613,000.00. Following the transaction, the executive vice president directly owned 83,478 shares of the company’s stock, valued at approximately $7,270,933.80. This trade represents a 26.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 115,000 shares of company stock valued at $10,050,000 over the last three months. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On Wells Fargo & Company

A number of hedge funds have recently made changes to their positions in WFC. Hilton Capital Management LLC acquired a new position in shares of Wells Fargo & Company during the second quarter valued at about $3,656,000. Mawer Investment Management Ltd. bought a new stake in Wells Fargo & Company in the 3rd quarter valued at about $147,165,000. Guerra Advisors Inc raised its stake in Wells Fargo & Company by 43.2% during the 3rd quarter. Guerra Advisors Inc now owns 38,439 shares of the financial services provider’s stock worth $3,222,000 after buying an additional 11,594 shares during the period. AlphaQuest LLC grew its stake in Wells Fargo & Company by 1,121.0% in the third quarter. AlphaQuest LLC now owns 24,079 shares of the financial services provider’s stock valued at $2,018,000 after acquiring an additional 22,107 shares during the period. Finally, UMB Bank n.a. grew its stake in Wells Fargo & Company by 52.7% in the third quarter. UMB Bank n.a. now owns 138,862 shares of the financial services provider’s stock valued at $11,639,000 after acquiring an additional 47,946 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock traded down $3.11 during trading on Monday, reaching $77.31. The company’s stock had a trading volume of 11,216,233 shares, compared to its average volume of 16,930,289. The business’s 50-day moving average price is $89.46 and its 200-day moving average price is $86.66. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $97.76. The firm has a market cap of $238.55 billion, a PE ratio of 12.33, a P/E/G ratio of 0.88 and a beta of 1.08. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.05.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.10. The company had revenue of $21.29 billion for the quarter, compared to analysts’ expectations of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.Wells Fargo & Company’s revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business earned $1.43 earnings per share. Equities analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, March 1st. Investors of record on Friday, February 6th were given a dividend of $0.45 per share. The ex-dividend date was Friday, February 6th. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. Wells Fargo & Company’s payout ratio is currently 28.71%.

Analyst Ratings Changes

WFC has been the topic of a number of recent research reports. CICC Research started coverage on shares of Wells Fargo & Company in a report on Wednesday, January 14th. They issued a “market perform” rating and a $96.00 price objective on the stock. UBS Group restated a “buy” rating and set a $113.00 target price on shares of Wells Fargo & Company in a report on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Wednesday, January 21st. Evercore restated an “outperform” rating on shares of Wells Fargo & Company in a research note on Friday. Finally, Keefe, Bruyette & Woods lifted their target price on Wells Fargo & Company from $92.00 to $101.00 and gave the company a “market perform” rating in a research report on Wednesday, December 17th. Thirteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus price target of $97.03.

About Wells Fargo & Company

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.