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

Wells Fargo & Company (NYSE:WFC) was the target of some unusual options trading on Friday. Investors purchased 87,517 call options on the company. This is an increase of approximately 27% compared to the average volume of 68,787 call options.

Wells Fargo & Company Stock Performance

NYSE WFC traded down $0.90 during trading on Friday, reaching $64.53. The company's stock had a trading volume of 14,855,494 shares, compared to its average volume of 18,084,012. The firm has a 50 day moving average price of $57.60 and a 200 day moving average price of $58.25. Wells Fargo & Company has a 12 month low of $38.62 and a 12 month high of $65.95. The firm has a market capitalization of $219.65 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business had revenue of $20.37 billion during the quarter, compared to analysts' expectations of $20.40 billion. During the same period in the previous year, the company posted $1.39 earnings per share. The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.36 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company's payout ratio is currently 33.26%.

Insider Activity at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 126,687 shares of the company's stock, valued at $7,853,327.13. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the business's stock in a transaction dated 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 sale, the executive vice president now directly owns 126,687 shares of the company's stock, valued at $7,853,327.13. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ather Williams III sold 60,000 shares of the firm's 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 transaction, 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 position. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

Institutional Investors Weigh In On Wells Fargo & Company

Several institutional investors and hedge funds have recently bought and sold shares of WFC. Cardinal Capital Management Inc. boosted its holdings in shares of Wells Fargo & Company by 2.0% in the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider's stock valued at $32,505,000 after purchasing an additional 11,037 shares in the last quarter. Argus Investors Counsel Inc. lifted its position in shares of Wells Fargo & Company by 34.6% during the 3rd quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider's stock worth $1,780,000 after buying an additional 8,107 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Wells Fargo & Company by 28.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 473,444 shares of the financial services provider's stock valued at $27,441,000 after buying an additional 106,260 shares in the last quarter. FORVIS Wealth Advisors LLC boosted its stake in Wells Fargo & Company by 154.2% in the first quarter. FORVIS Wealth Advisors LLC now owns 27,222 shares of the financial services provider's stock valued at $1,578,000 after buying an additional 16,515 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its stake in Wells Fargo & Company by 40.0% during the second quarter. EP Wealth Advisors LLC now owns 179,282 shares of the financial services provider's stock worth $10,648,000 after acquiring an additional 51,234 shares in the last quarter. Institutional investors own 75.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets upped their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a "market perform" rating in a research note on Thursday, July 11th. The Goldman Sachs Group dropped their price target on shares of 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. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $65.00 price objective for the company in a research report on Tuesday, September 3rd. Jefferies Financial Group cut shares of Wells Fargo & Company to a "hold" rating and dropped their target price for the company from $62.00 to $59.00 in a report on Friday, August 16th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Thirteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of "Hold" and a consensus price target of $61.82.

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.