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

Wells Fargo & Company (NYSE:WFC) was the recipient of a significant decline in short interest in April. As of April 15th, there was short interest totalling 32,500,000 shares, a decline of 17.9% from the March 31st total of 39,580,000 shares. Based on an average daily trading volume, of 19,080,000 shares, the short-interest ratio is presently 1.7 days. Approximately 0.9% of the shares of the stock are short sold.

Analysts Set New Price Targets

WFC has been the subject of several research reports. Jefferies Financial Group lifted their target price on Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Citigroup reaffirmed a “neutral” rating and issued a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Piper Sandler cut their price objective on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, January 16th. Odeon Capital Group cut shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 target price for the company. in a research report on Thursday, January 18th. Finally, Raymond James increased their price target on Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 16th. Thirteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded down $0.02 during trading hours on Friday, hitting $59.91. The company had a trading volume of 18,785,900 shares, compared to its average volume of 18,078,044. Wells Fargo & Company has a one year low of $36.40 and a one year high of $61.76. The firm has a market cap of $212.11 billion, a PE ratio of 12.51, a PEG ratio of 1.16 and a beta of 1.19. The firm has a 50-day moving average of $56.93 and a 200 day moving average of $49.63. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The company had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. Wells Fargo & Company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.23 earnings per share. On average, sell-side analysts expect that Wells Fargo & Company will post 5.06 earnings per share for the current year.

Institutional Investors Weigh In On Wells Fargo & Company

Large investors have recently added to or reduced their stakes in the stock. Fruth Investment Management boosted its position in shares of Wells Fargo & Company by 3.2% during the 1st quarter. Fruth Investment Management now owns 6,518 shares of the financial services provider’s stock worth $377,000 after acquiring an additional 200 shares in the last quarter. Lazari Capital Management Inc. increased its stake in shares of Wells Fargo & Company by 0.9% in the 4th quarter. Lazari Capital Management Inc. now owns 22,804 shares of the financial services provider’s stock valued at $1,122,000 after purchasing an additional 202 shares during the last quarter. Webster Bank N. A. raised its holdings in shares of Wells Fargo & Company by 2.0% during the 1st quarter. Webster Bank N. A. now owns 10,153 shares of the financial services provider’s stock worth $588,000 after buying an additional 202 shares in the last quarter. First Financial Corp IN lifted its position in shares of Wells Fargo & Company by 4.9% during the 4th quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock worth $226,000 after buying an additional 214 shares during the last quarter. Finally, CX Institutional boosted its stake in Wells Fargo & Company by 1.1% in the fourth quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock valued at $998,000 after buying an additional 217 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.