Zacks: Brokerages Anticipate Wells Fargo & Co (WFC) Will Publish Revenue of $1.03 Per Share

Zacks: Brokerages Anticipate Wells Fargo & Co (WFC) Will Publish Revenue of $1.03 Per Share

Brokerages expect that Wells Fargo & Co (NYSE:WFC) will announce earnings of $1.03 per share for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Wells Fargo & Co’s earnings. The highest EPS estimate is $1.06 and the lowest is $0.99. Wells Fargo & Co posted earnings of $1.01 per share during the same quarter last year, which would indicate a positive year over year growth rate of 2%. The company is scheduled to issue its next quarterly earnings report on Friday, July 21st.

On average, analysts expect that Wells Fargo & Co will report full year earnings of $4.17 per share for the current year, with EPS estimates ranging from $4.02 to $4.26. For the next year, analysts expect that the business will post earnings of $4.47 per share, with EPS estimates ranging from $4.18 to $5.00. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Wells Fargo & Co.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Thursday, April 13th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.03. The firm had revenue of $22 billion for the quarter, compared to analyst estimates of $22.25 billion. Wells Fargo & Co had a net margin of 23.30% and a return on equity of 12.60%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.99 earnings per share.

WFC has been the topic of a number of research analyst reports. Vining Sparks upgraded shares of Wells Fargo & Co to a “strong-buy” rating and set a $65.00 price target on the stock in a research note on Thursday, April 27th. Credit Suisse Group AG restated an “outperform” rating and issued a $40.00 price target (up from $36.00) on shares of Wells Fargo & Co in a research note on Friday, April 14th. Jefferies Group LLC restated a “hold” rating and issued a $62.00 price target on shares of Wells Fargo & Co in a research note on Monday, May 8th. Evercore ISI restated an “outperform” rating and issued a $64.00 price target on shares of Wells Fargo & Co in a research note on Tuesday, April 11th. Finally, Vetr upgraded shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $58.06 target price on the stock in a research report on Monday, March 27th. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Wells Fargo & Co presently has an average rating of “Hold” and a consensus price target of $55.45.

In other Wells Fargo & Co news, insider Avid Modjtabai sold 100,000 shares of Wells Fargo & Co stock in a transaction on Friday, April 28th. The shares were sold at an average price of $54.21, for a total transaction of $5,421,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael J. Loughlin sold 20,000 shares of Wells Fargo & Co stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $52.16, for a total transaction of $1,043,200.00. Following the transaction, the insider now directly owns 7 shares in the company, valued at $365.12. The disclosure for this sale can be found here. Insiders have acquired a total of 106,392 shares of company stock worth $5,526,822 over the last ninety days. Insiders own 0.29% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the company. Markston International LLC increased its position in Wells Fargo & Co by 12.5% in the third quarter. Markston International LLC now owns 273,629 shares of the financial services provider’s stock worth $12,116,000 after buying an additional 30,487 shares in the last quarter. Hikari Power Ltd increased its position in Wells Fargo & Co by 8.4% in the third quarter. Hikari Power Ltd now owns 1,874,400 shares of the financial services provider’s stock worth $82,998,000 after buying an additional 145,300 shares in the last quarter. SOL Capital Management CO increased its position in Wells Fargo & Co by 2.6% in the third quarter. SOL Capital Management CO now owns 35,368 shares of the financial services provider’s stock worth $1,566,000 after buying an additional 901 shares in the last quarter. Aperio Group LLC increased its position in Wells Fargo & Co by 1.4% in the third quarter. Aperio Group LLC now owns 1,729,312 shares of the financial services provider’s stock worth $76,574,000 after buying an additional 24,291 shares in the last quarter. Finally, CAM Group Holding A S increased its position in Wells Fargo & Co by 4.9% in the third quarter. CAM Group Holding A S now owns 4,822,753 shares of the financial services provider’s stock worth $213,551,000 after buying an additional 224,540 shares in the last quarter. 73.25% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Co (NYSE:WFC) traded down 0.52% on Tuesday, reaching $51.81. 19,477,314 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $53.42 and its 200 day moving average price is $55.22. Wells Fargo & Co has a 52-week low of $43.55 and a 52-week high of $59.99. The firm has a market capitalization of $258.91 billion, a PE ratio of 12.95 and a beta of 0.98.

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

About Wells Fargo & Co

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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