Wells Fargo & Company (WFC) : The total negative money flow of $7.54 million on Wednesday indicates selling on strength. The inflow of money on upticks was $111.65 million, compared to $119.19 million outflow on downticks, which confirms distribution in the stock. The up to down ratio was 0.94. The negative money flow of $12.15 million in block trades reveals that the informed traders sold the stock on every bit of price strength. The traded value of the stock on uptick was $22.32 million in a block trade.The transaction value of block trade on downtick was $34.46 million. The uptick to downtick ratio was 0.65. The price action in the Wells Fargo & Company (WFC) stock suggests that both the bulls and the bears were in equilibrium. The stock traded at $48.61 with a gain of $0.24 , a change of 0.5% over the previous days close. The stock registered 1.89% for the week.
Also, Berenberg initiates coverage on Wells Fargo & Company (NYSE:WFC) . The global brokerage major announces a current price target of $45 per share. Analysts at the Berenberg have a current rating of Hold on the shares. The rating by the firm was issued on July 13, 2016.
Wells Fargo & Company (NYSE:WFC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $48.59 and $48.40 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $48.69. The buying momentum continued till the end and the stock did not give up its gains. It closed at $48.61, notching a gain of 0.50% for the day. The total traded volume was 16,569,909 . The stock had closed at $48.37 on the previous day.
The stock has recorded a 20-day Moving Average of 2.8% and the 50-Day Moving Average is 0.63%. In a related news, Pena Federico F, director of Wells Fargo & Company/Mn had purchased 085 shares on March 11, 2016 in a transaction. The price per share was $49.5 and the total amount of the disclosed transaction was $4,208.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.
Wells Fargo & Company is a financial services and bank holding company. The Companys segments are Community Banking, Wholesale Banking, and Wealth and Brokerage and Retirement. The Companys Community Banking segment offers a range of financial products and services for consumers and small businesses, including checking and savings accounts, credit and debit cards, and auto, student and small business lending. The Community Banking segments products include investment, insurance and trust services, and mortgage and home equity loans. The Community Banking segments products and business segments include middle market commercial banking, government and institutional banking, corporate banking and commercial real estate, among others. The Companys Wholesale Banking segment provides a range of financial solutions to businesses across the United States and around the world. The Wealth and Brokerage and Retirement segment provides a range of financial advisory services.