Brokerages predict that Wells Fargo & Co (NYSE:WFC) will post $1.12 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Wells Fargo & Co’s earnings. The lowest EPS estimate is $1.05 and the highest is $1.18. Wells Fargo & Co reported earnings per share of $1.07 during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.7%. The business is scheduled to announce its next quarterly earnings results before the market opens on Friday, July 13th.
On average, analysts expect that Wells Fargo & Co will report full-year earnings of $4.46 per share for the current financial year, with EPS estimates ranging from $4.24 to $4.57. For the next year, analysts expect that the business will report earnings of $5.13 per share, with EPS estimates ranging from $4.79 to $5.60. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow Wells Fargo & Co.
Get Wells Fargo & Co alerts:Wells Fargo & Co (NYSE:WFC) last released its earnings results on Friday, April 13th. The financial services provider reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.05. The firm had revenue of $21.93 billion during the quarter, compared to analyst estimates of $21.74 billion. Wells Fargo & Co had a net margin of 22.80% and a return on equity of 12.46%. The business’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 EPS.
WFC has been the subject of a number of research analyst reports. Macquarie raised shares of Wells Fargo & Co from an “underperform” rating to an “outperform” rating in a research report on Monday, April 30th. UBS Group raised shares of Wells Fargo & Co from a “neutral” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Thursday, April 5th. Vetr upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $54.10 price objective on the stock in a report on Thursday, April 5th. Barclays dropped their price objective on shares of Wells Fargo & Co from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, April 16th. Finally, Zacks Investment Research downgraded shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a report on Monday, April 9th. Six research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company. Wells Fargo & Co presently has a consensus rating of “Hold” and an average price target of $61.82.
Wells Fargo & Co stock traded up $1.81 on Friday, reaching $55.44. 43,870,876 shares of the stock were exchanged, compared to its average volume of 17,212,528. The firm has a market cap of $261.59 billion, a price-to-earnings ratio of 13.49, a P/E/G ratio of 1.45 and a beta of 1.12. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.88 and a quick ratio of 0.86. Wells Fargo & Co has a twelve month low of $49.27 and a twelve month high of $66.31.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Friday, May 4th were paid a $0.39 dividend. The ex-dividend date was Thursday, May 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 2.81%. Wells Fargo & Co’s payout ratio is currently 37.96%.
In related news, EVP Petros G. Pelos sold 25,567 shares of the company’s stock in a transaction dated Thursday, May 24th. The shares were sold at an average price of $54.76, for a total value of $1,400,048.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.09% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Avalon Advisors LLC grew its stake in Wells Fargo & Co by 27.2% during the first quarter. Avalon Advisors LLC now owns 411,062 shares of the financial services provider’s stock worth $21,544,000 after buying an additional 87,876 shares during the last quarter. Mount Yale Investment Advisors LLC bought a new stake in Wells Fargo & Co during the first quarter worth about $2,645,000. Greenline Partners LLC grew its stake in Wells Fargo & Co by 3.1% during the first quarter. Greenline Partners LLC now owns 227,855 shares of the financial services provider’s stock worth $11,942,000 after buying an additional 6,812 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Wells Fargo & Co during the first quarter worth about $750,000. Finally, Altium Wealth Management LLC grew its stake in Wells Fargo & Co by 37.7% during the first quarter. Altium Wealth Management LLC now owns 7,252 shares of the financial services provider’s stock worth $380,000 after buying an additional 1,985 shares during the last quarter. 76.04% of the stock is currently owned by institutional investors and hedge funds.
About Wells Fargo & Co
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.
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