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

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

Institutional Investors Weigh In On Wells Fargo & Company

Institutional investors have recently bought and sold shares of the business. Stoneridge Investment Partners LLC boosted its stake in Wells Fargo & Company by 410.5% during the third quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider's stock worth $2,757,000 after buying an additional 54,262 shares in the last quarter. United Services Automobile Association lifted its holdings in shares of Wells Fargo & Company by 13.7% during the third quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider's stock valued at $4,000,000 after acquiring an additional 11,825 shares during the period. Synovus Financial Corp lifted its holdings in shares of Wells Fargo & Company by 61.7% during the third quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider's stock valued at $4,983,000 after acquiring an additional 46,525 shares during the period. Trust Point Inc. bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at $2,499,000. Finally, Golden State Equity Partners lifted its holdings in shares of Wells Fargo & Company by 98.8% during the third quarter. Golden State Equity Partners now owns 60,998 shares of the financial services provider's stock valued at $2,492,000 after acquiring an additional 30,316 shares during the period. Institutional investors and hedge funds own 75.90% of the company's stock.

Analysts Set New Price Targets

WFC has been the topic of several recent research reports. Oppenheimer reaffirmed a "market perform" rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. HSBC lifted their price target on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company a "hold" rating in a research report on Thursday, March 28th. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an "overweight" rating in a research report on Monday, April 15th. Robert W. Baird reissued a "neutral" rating and issued a $55.00 price target on shares of Wells Fargo & Company in a research report on Monday, January 8th. Finally, Evercore ISI lifted their price target on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the company an "outperform" rating in a research report on Thursday, March 28th. Thirteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $58.85.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock traded down $0.02 during midday trading 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. The business's 50 day simple moving average is $56.93 and its two-hundred day simple moving average is $49.70. The stock has a market cap of $212.11 billion, a PE ratio of 12.51, a P/E/G ratio of 1.16 and a beta of 1.19. 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 has a 1-year low of $36.40 and a 1-year high of $61.76.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the previous year, the company earned $1.23 earnings per share. The business's revenue was up .6% compared to the same quarter last year. As a group, equities analysts predict that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

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.