Wells Fargo & Co (NYSE:WFC) – Investment analysts at Jefferies Group increased their Q4 2017 earnings estimates for shares of Wells Fargo & Co in a research report issued on Friday, according to Zacks Investment Research. Jefferies Group analyst K. Usdin now anticipates that the financial services provider will post earnings of $1.17 per share for the quarter, up from their prior forecast of $1.09. Jefferies Group also issued estimates for Wells Fargo & Co’s Q1 2018 earnings at $0.92 EPS, Q2 2018 earnings at $1.04 EPS and FY2018 earnings at $4.25 EPS.
Other equities research analysts have also recently issued reports about the company. Vetr raised Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $54.49 target price on the stock in a research note on Tuesday, October 24th. Atlantic Securities raised Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $64.00 target price on the stock in a research note on Wednesday. Vertical Group raised Wells Fargo & Co from a “sell” rating to a “buy” rating in a research note on Thursday, December 7th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $59.00 target price on shares of Wells Fargo & Co in a research note on Monday, October 16th. Finally, Buckingham Research raised Wells Fargo & Co from a “neutral” rating to a “buy” rating and increased their target price for the stock from $57.00 to $75.00 in a research note on Thursday, December 21st. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $61.02.
Shares of Wells Fargo & Co (NYSE WFC) opened at $63.01 on Monday. Wells Fargo & Co has a 12 month low of $49.27 and a 12 month high of $63.67. The company has a market capitalization of $310,510.00, a price-to-earnings ratio of 16.28, a PEG ratio of 1.72 and a beta of 0.96. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.32.
Wells Fargo & Co (NYSE:WFC) last announced its earnings results on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). Wells Fargo & Co had a net margin of 22.00% and a return on equity of 12.59%. The business had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $22.30 billion. During the same quarter in the prior year, the company earned $1.03 EPS. Wells Fargo & Co’s revenue was down 1.8% compared to the same quarter last year.
In other Wells Fargo & Co news, insider Michael J. Loughlin sold 17,482 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $57.80, for a total transaction of $1,010,459.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John R. Shrewsberry sold 70,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.90, for a total value of $3,983,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 184,482 shares of company stock valued at $10,471,050 in the last 90 days. 0.22% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Delphi Private Advisors LLC lifted its stake in shares of Wells Fargo & Co by 262.8% during the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 1,461 shares during the last quarter. Brick & Kyle Associates lifted its stake in shares of Wells Fargo & Co by 9.5% during the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 162 shares during the last quarter. Stelac Advisory Services LLC bought a new stake in shares of Wells Fargo & Co during the 2nd quarter worth approximately $104,000. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Wells Fargo & Co by 0.3% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 6 shares during the last quarter. Finally, Clear Investment Research LLC bought a new stake in shares of Wells Fargo & Co during the 2nd quarter worth approximately $121,000. Hedge funds and other institutional investors own 75.70% of the company’s stock.
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Wells Fargo & Co 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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