Wells Fargo & Company (WFC) Expected to Post Quarterly Sales of $22.23 Billion

Analysts predict that Wells Fargo & Company (NYSE:WFC) will report sales of $22.23 billion for the current quarter, according to Zacks. Five analysts have made estimates for Wells Fargo &’s earnings, with the highest sales estimate coming in at $22.62 billion and the lowest estimate coming in at $22.02 billion. Wells Fargo & reported sales of $21.58 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 3%. The company is scheduled to issue its next earnings report on Friday, January 12th.

On average, analysts expect that Wells Fargo & will report full year sales of $22.23 billion for the current fiscal year, with estimates ranging from $87.98 billion to $89.70 billion. For the next financial year, analysts anticipate that the company will post sales of $90.40 billion per share, with estimates ranging from $89.33 billion to $93.39 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Wells Fargo &.

Wells Fargo & (NYSE:WFC) last issued its earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ 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 period last year, the business posted $1.03 earnings per share. The company’s quarterly revenue was down 1.8% on a year-over-year basis.

A number of research firms recently commented on WFC. Keefe, Bruyette & Woods set a $61.00 target price on shares of Wells Fargo & and gave the stock a “buy” rating in a report on Friday, August 25th. UBS AG set a $57.00 target price on shares of Wells Fargo & and gave the stock a “neutral” rating in a report on Friday, October 6th. BMO Capital Markets boosted their target price on shares of Wells Fargo & from $49.00 to $50.00 and gave the stock a “market perform” rating in a report on Monday, October 16th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Wells Fargo & in a report on Wednesday, October 11th. Finally, Zacks Investment Research upgraded shares of Wells Fargo & from a “sell” rating to a “hold” rating in a report on Monday, July 10th. Six research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $57.20.

Several institutional investors and hedge funds have recently bought and sold shares of WFC. Boston Partners grew its holdings in shares of Wells Fargo & by 140.1% in the 2nd quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock worth $1,057,700,000 after purchasing an additional 11,139,780 shares during the last quarter. Capital World Investors grew its holdings in shares of Wells Fargo & by 10.8% in the 2nd 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 last quarter. Capital Research Global Investors grew its holdings in shares of Wells Fargo & by 19.7% in the 2nd 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 last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Wells Fargo & by 26.7% in the 2nd 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 last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Wells Fargo & by 396.3% in the 2nd quarter. Janus Henderson Group PLC now owns 5,894,918 shares of the financial services provider’s stock worth $326,655,000 after purchasing an additional 4,707,207 shares during the last quarter. 75.02% of the stock is currently owned by institutional investors and hedge funds.

Shares of Wells Fargo & (WFC) traded up 0.45% on Tuesday, reaching $55.87. 17,250,295 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $53.67 and its 200-day moving average price is $53.49. Wells Fargo & has a 1-year low of $44.49 and a 1-year high of $59.99. The company has a market capitalization of $275.32 billion, a P/E ratio of 14.44 and a beta of 0.97.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 3rd will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Thursday, November 2nd. Wells Fargo &’s payout ratio is currently 40.31%.

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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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Earnings History and Estimates for Wells Fargo & (NYSE:WFC)

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