Wells Fargo & Company (NYSE:WFC) – Equities researchers at Jefferies Group raised their Q4 2017 earnings per share estimates for Wells Fargo & in a note issued to investors on Monday. Jefferies Group analyst K. Usdin now anticipates that the financial services provider will earn $1.09 per share for the quarter, up from their previous forecast of $1.08. Jefferies Group also issued estimates for Wells Fargo &’s Q1 2018 earnings at $0.95 EPS, Q3 2018 earnings at $1.12 EPS, Q4 2018 earnings at $1.15 EPS, FY2018 earnings at $4.30 EPS and FY2019 earnings at $4.80 EPS.
Other equities research analysts have also issued reports about the company. Buckingham Research reissued a “neutral” rating and set a $62.00 price objective (up from $60.00) on shares of Wells Fargo & in a research note on Monday, July 10th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $62.00 price objective on shares of Wells Fargo & in a research note on Friday, June 23rd. Vetr raised Wells Fargo & from a “sell” rating to a “hold” rating and set a $52.91 price objective for the company in a research note on Monday. Piper Jaffray Companies reissued a “hold” rating on shares of Wells Fargo & in a research note on Sunday, July 30th. Finally, BidaskClub lowered Wells Fargo & from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Six research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $57.14.
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Shares of Wells Fargo & (WFC) traded up 0.253% during mid-day trading on Wednesday, hitting $53.545. The stock had a trading volume of 4,165,755 shares. Wells Fargo & has a 12-month low of $44.32 and a 12-month high of $59.99. The firm has a market cap of $263.86 billion, a P/E ratio of 13.836 and a beta of 0.97. The company has a 50 day moving average price of $53.19 and a 200 day moving average price of $53.50.
Wells Fargo & (NYSE:WFC) last issued its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). Wells Fargo & had a net margin of 22.00% and a return on equity of 12.59%. The company had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $22.30 billion. During the same quarter in the prior year, the company earned $1.03 earnings per share. The firm’s revenue was down 1.8% compared to the same quarter last year.
Wells Fargo & declared that its board has approved a share repurchase program on Wednesday, June 28th that allows the company to repurchase $11.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 4.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Wells Fargo & by 1.2% in the second quarter. Vanguard Group Inc. now owns 314,755,460 shares of the financial services provider’s stock worth $17,440,601,000 after purchasing an additional 3,621,402 shares during the period. Capital World Investors increased its stake in shares of Wells Fargo & by 10.8% in the second quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock worth $6,192,259,000 after purchasing an additional 10,927,679 shares during the period. Capital Research Global Investors increased its stake in shares of Wells Fargo & by 19.7% in the second quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock worth $2,511,614,000 after purchasing an additional 7,445,414 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Wells Fargo & by 26.7% in the second quarter. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider’s stock worth $1,653,464,000 after purchasing an additional 6,291,906 shares during the period. Finally, Davis Selected Advisers increased its stake in shares of Wells Fargo & by 1.9% in the second quarter. Davis Selected Advisers now owns 25,966,811 shares of the financial services provider’s stock worth $1,438,821,000 after purchasing an additional 472,585 shares during the period. Institutional investors and hedge funds own 75.09% of the company’s stock.
Wells Fargo & Company Profile
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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