What Will Happen to Wells Fargo & Company (NYSE:WFC) Next? The Stock Has Decline in Shorts

April 26, 2018 - By Vivian Park

Wells Fargo & Company (NYSE:WFC) Logo

Investors sentiment increased to 0.75 in Q4 2017. Its up 0.02, from 0.73 in 2017Q3. It is positive, as 63 investors sold Wells Fargo & Company shares while 746 reduced holdings. 138 funds opened positions while 466 raised stakes. 3.64 billion shares or 0.11% less from 3.65 billion shares in 2017Q3 were reported.
Laurel Grove Cap Ltd Liability Com accumulated 19,650 shares or 0.62% of the stock. Hartford Investment invested 1.07% of its portfolio in Wells Fargo & Company (NYSE:WFC). Bush Odonnell Inv Advsr accumulated 4.84% or 98,095 shares. Toronto Dominion National Bank has invested 0.37% in Wells Fargo & Company (NYSE:WFC). Kelly Lawrence W Assoc Ca has invested 0% in Wells Fargo & Company (NYSE:WFC). Washington Tru Comml Bank accumulated 85,253 shares. Lodestar Counsel Ltd Llc Il owns 0.25% invested in Wells Fargo & Company (NYSE:WFC) for 36,214 shares. Tiemann Advsrs Lc holds 0.58% or 11,963 shares in its portfolio. Investment House Ltd Llc holds 6,890 shares or 0.05% of its portfolio. Highlander Cap Mngmt Limited Liability Co holds 2,439 shares or 0.11% of its portfolio. Bingham Osborn Scarborough Limited Liability Com invested in 134,051 shares or 0.74% of the stock. Arrow Financial holds 15,625 shares or 0.22% of its portfolio. Douglass Winthrop Ltd Liability Corp invested in 27,400 shares. Parkside Financial Bank Tru owns 0.27% invested in Wells Fargo & Company (NYSE:WFC) for 12,293 shares. Mitchell Mcleod Pugh & Williams reported 28,373 shares or 1.19% of all its holdings.

Since November 17, 2017, it had 0 buys, and 1 sale for $292,234 activity.

The stock of Wells Fargo & Company (NYSE:WFC) registered a decrease of 11.43% in short interest. WFC’s total short interest was 31.68 million shares in April as published by FINRA. Its down 11.43% from 35.77M shares, reported previously. With 25.60 million shares average volume, it will take short sellers 1 days to cover their WFC’s short positions. The short interest to Wells Fargo & Company’s float is 0.72%.

The stock increased 1.14% or $0.6 during the last trading session, reaching $53.11. About 20.98 million shares traded. Wells Fargo & Company (NYSE:WFC) has declined 7.75% since April 26, 2017 and is downtrending. It has underperformed by 19.30% the S&P500.

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company has market cap of $258.85 billion. The Company’s Community Banking segment offers checking, savings, market rate, and individual retirement accounts, as well as time deposits and remittances; and lines of credit, automobile floor plan lines, equity lines and loans, equipment and transportation loans, education and residential mortgage loans, and debit and credit cards. It has a 12.68 P/E ratio. This segment also provides equipment leases, real estate and other commercial financing, small business administration financing, venture capital financing, cash management, payroll services, retirement plans, merchant payment processing, and private label financing solutions, as well as purchases retail installment contracts.

Wells Fargo & Company (NYSE:WFC) Ratings Coverage

Among 23 analysts covering Wells Fargo (NYSE:WFC), 11 have Buy rating, 4 Sell and 8 Hold. Therefore 48% are positive. Wells Fargo has $76 highest and $5400 lowest target. $63.03’s average target is 18.68% above currents $53.11 stock price. Wells Fargo had 45 analyst reports since November 10, 2017 according to SRatingsIntel. As per Monday, February 5, the company rating was downgraded by JP Morgan. The stock has “Buy” rating by Buckingham Research on Thursday, December 21. The stock of Wells Fargo & Company (NYSE:WFC) has “Buy” rating given on Monday, February 5 by Robert W. Baird. Susquehanna maintained Wells Fargo & Company (NYSE:WFC) on Sunday, February 4 with “Hold” rating. Susquehanna maintained it with “Hold” rating and $5800 target in Monday, April 23 report. Sandler O’Neill maintained the shares of WFC in report on Thursday, March 29 with “Buy” rating. The company was upgraded on Wednesday, January 3 by Bernstein. Bank of America maintained the stock with “Buy” rating in Monday, February 5 report. The firm earned “Hold” rating on Friday, April 13 by Susquehanna. The stock of Wells Fargo & Company (NYSE:WFC) earned “Sell” rating by RBC Capital Markets on Monday, February 5.

Wells Fargo & Company (NYSE:WFC) Institutional Positions Chart

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