Wells Fargo & Co (WFC) Anticipated to Announce Quarterly Sales of $22.37 Billion

Wells Fargo & Co (WFC) Anticipated to Announce Quarterly Sales of $22.37 Billion

Equities analysts forecast that Wells Fargo & Co (NYSE:WFC) will post sales of $22.37 billion for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Wells Fargo & Co’s earnings. The highest sales estimate is $22.74 billion and the lowest is $22.11 billion. Wells Fargo & Co reported sales of $22.16 billion during the same quarter last year, which indicates a positive year over year growth rate of 0.9%. The firm is expected to issue its next earnings report on Friday, July 21st.

On average, analysts expect that Wells Fargo & Co will report full year sales of $22.37 billion for the current year, with estimates ranging from $89.09 billion to $91.09 billion. For the next financial year, analysts expect that the firm will report sales of $93.32 billion per share, with estimates ranging from $91.18 billion to $95.72 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Wells Fargo & Co.

Wells Fargo & Co (NYSE:WFC) last posted its earnings results on Thursday, April 13th. The financial services provider reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.03. The firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.25 billion. Wells Fargo & Co had a net margin of 23.30% and a return on equity of 12.60%. The company’s revenue was down .9% on a year-over-year basis. During the same period last year, the firm posted $0.99 EPS.

Several analysts recently issued reports on the stock. Credit Suisse Group AG cut shares of Wells Fargo & Co from an “outperform” rating to a “neutral” rating and set a $56.00 price target on the stock. in a report on Friday, February 10th. Keefe, Bruyette & Woods raised shares of Wells Fargo & Co from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $53.00 to $63.00 in a report on Wednesday, April 5th. Jefferies Group LLC reissued a “hold” rating and set a $62.00 target price on shares of Wells Fargo & Co in a report on Wednesday, April 5th. Piper Jaffray Companies dropped their target price on shares of Wells Fargo & Co from $55.00 to $52.00 and set a “neutral” rating on the stock in a report on Tuesday, April 18th. Finally, Instinet dropped their target price on shares of Wells Fargo & Co from $65.00 to $64.00 and set a “buy” rating on the stock in a report on Wednesday, April 19th. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Wells Fargo & Co presently has a consensus rating of “Hold” and an average price target of $55.45.

In other Wells Fargo & Co news, insider Michael J. Loughlin sold 20,000 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $52.16, for a total value of $1,043,200.00. Following the completion of the sale, the insider now directly owns 7 shares of the company’s stock, valued at approximately $365.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Avid Modjtabai sold 100,000 shares of the company’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $54.21, for a total transaction of $5,421,000.00. The disclosure for this sale can be found here. Insiders acquired a total of 106,392 shares of company stock valued at $5,526,822 over the last three months. 0.29% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of WFC. Mondrian Investment Partners LTD increased its stake in shares of Wells Fargo & Co by 4.2% in the third quarter. Mondrian Investment Partners LTD now owns 982,255 shares of the financial services provider’s stock worth $43,494,000 after buying an additional 39,235 shares during the last quarter. Dubuque Bank & Trust Co. increased its stake in shares of Wells Fargo & Co by 97.2% in the third quarter. Dubuque Bank & Trust Co. now owns 105,490 shares of the financial services provider’s stock worth $4,671,000 after buying an additional 52,002 shares during the last quarter. WMS Partners LLC raised its stake in Wells Fargo & Co by 4.3% in the third quarter. WMS Partners LLC now owns 245,631 shares of the financial services provider’s stock worth $10,877,000 after buying an additional 10,226 shares in the last quarter. ARGA Investment Management LP purchased a new stake in Wells Fargo & Co during the third quarter worth approximately $1,280,000. Finally, First National Bank Sioux Falls raised its stake in Wells Fargo & Co by 9.0% in the third quarter. First National Bank Sioux Falls now owns 69,294 shares of the financial services provider’s stock worth $3,068,000 after buying an additional 5,719 shares in the last quarter. 73.25% of the stock is owned by institutional investors.

Wells Fargo & Co (WFC) traded down 0.52% on Thursday, hitting $51.81. 19,477,314 shares of the company were exchanged. The firm has a 50 day moving average of $53.42 and a 200-day moving average of $55.22. The stock has a market cap of $258.91 billion, a PE ratio of 12.95 and a beta of 0.98. Wells Fargo & Co has a 52-week low of $43.55 and a 52-week high of $59.99.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 5th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend was Wednesday, May 3rd. Wells Fargo & Co’s payout ratio is 38.10%.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “WFC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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