Wells Fargo & Company (NYSE:WFC) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Wells Fargo & Company (NYSE:WFC)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $62.07 and traded as high as $70.79. Wells Fargo & Company shares last traded at $70.41, with a volume of 8,443,035 shares.

Analyst Ratings Changes

WFC has been the topic of several recent research reports. Citigroup upped their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 19th. Piper Sandler lifted their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. Morgan Stanley lowered their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an "overweight" rating on the stock in a research note on Monday, September 30th. UBS Group raised their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Finally, Compass Point increased their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Thirteen analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Wells Fargo & Company currently has a consensus rating of "Hold" and an average target price of $67.49.

Wells Fargo & Company Trading Down 0.2 %

The company has a market capitalization of $233.86 billion, a PE ratio of 14.60, a PEG ratio of 1.47 and a beta of 1.16. The company has a fifty day simple moving average of $71.17 and a 200-day simple moving average of $62.26. 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 announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same quarter in the prior year, the firm posted $1.39 earnings per share. Wells Fargo & Company's quarterly revenue was down 2.4% on a year-over-year basis. Analysts predict that Wells Fargo & Company will post 5.43 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company's payout ratio is presently 33.26%.

Insider Buying and Selling

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 in the company, valued at $7,853,327.13. This represents a 21.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ather Williams III sold 60,000 shares of the company's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the sale, the executive vice president now directly owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 26.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. acquired a new stake in Wells Fargo & Company during the second quarter worth approximately $214,000. Aptus Capital Advisors LLC boosted its stake in Wells Fargo & Company by 10.6% in the second quarter. Aptus Capital Advisors LLC now owns 23,824 shares of the financial services provider's stock valued at $1,415,000 after acquiring an additional 2,291 shares in the last quarter. Summit Financial LLC grew its holdings in shares of Wells Fargo & Company by 158.9% during the second quarter. Summit Financial LLC now owns 22,764 shares of the financial services provider's stock worth $1,352,000 after purchasing an additional 13,970 shares during the last quarter. Claro Advisors LLC increased its position in shares of Wells Fargo & Company by 16.4% during the second quarter. Claro Advisors LLC now owns 13,936 shares of the financial services provider's stock worth $828,000 after purchasing an additional 1,968 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its holdings in shares of Wells Fargo & Company by 14.5% in the 2nd quarter. Ritholtz Wealth Management now owns 53,287 shares of the financial services provider's stock valued at $3,165,000 after purchasing an additional 6,752 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Company Profile

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.