Wells Fargo & Co. (NYSE:WFC) – Equities research analysts at FBR & Co dropped their Q1 2017 earnings per share (EPS) estimates for Wells Fargo & Co. in a research note issued on Tuesday. FBR & Co analyst P. Miller now expects that the brokerage will earn $1.01 per share for the quarter, down from their previous estimate of $1.04. FBR & Co currently has a “Outperform” rating and a $50.00 target price on the stock. FBR & Co also issued estimates for Wells Fargo & Co.’s Q2 2017 earnings at $1.05 EPS, Q3 2017 earnings at $1.09 EPS and Q4 2017 earnings at $1.08 EPS.
Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. downgraded Wells Fargo & Co. from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $53.50 to $48.00 in a report on Wednesday, September 21st. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $57.00 target price on shares of Wells Fargo & Co. in a report on Friday, September 9th. Vetr downgraded Wells Fargo & Co. from a “strong-buy” rating to a “buy” rating and set a $51.06 target price on the stock. in a report on Wednesday, July 6th. Raymond James Financial Inc. reissued a “market perform” rating on shares of Wells Fargo & Co. in a report on Thursday, July 7th. Finally, Bank of America Corp. set a $50.00 target price on Wells Fargo & Co. and gave the stock a “buy” rating in a report on Monday, September 19th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company. Wells Fargo & Co. currently has a consensus rating of “Hold” and an average price target of $50.53.
Wells Fargo & Co. (NYSE:WFC) traded down 0.16% during trading on Wednesday, hitting $45.02. 15,692,661 shares of the company traded hands. The firm has a market cap of $227.15 billion, a P/E ratio of 11.12 and a beta of 0.90. The firm has a 50 day moving average of $48.06 and a 200 day moving average of $48.49. Wells Fargo & Co. has a one year low of $44.50 and a one year high of $56.34.
Wells Fargo & Co. (NYSE:WFC) last posted its earnings results on Friday, July 15th. The financial services provider reported $1.01 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.01. The business had revenue of $22.20 billion for the quarter. Wells Fargo & Co. had a net margin of 24.33% and a return on equity of 12.95%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 EPS.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 5th were issued a $0.38 dividend. The ex-dividend date was Wednesday, August 3rd. This represents a $1.52 annualized dividend and a dividend yield of 3.37%. Wells Fargo & Co.’s payout ratio is 37.25%.
In other news, COO Timothy J. Sloan sold 20,500 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $48.92, for a total value of $1,002,860.00. Following the sale, the chief operating officer now directly owns 650,815 shares in the company, valued at $31,837,869.80. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.29% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. Svenska Handelsbanken AB publ acquired a new stake in shares of Wells Fargo & Co. during the second quarter valued at $15,118,000. Exxonmobil Investment Management Inc. TX increased its position in Wells Fargo & Co. by 6.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 1,195,917 shares of the financial services provider’s stock valued at $56,603,000 after buying an additional 71,107 shares during the last quarter. Lazard Asset Management LLC increased its position in Wells Fargo & Co. by 10.3% in the first quarter. Lazard Asset Management LLC now owns 6,564,216 shares of the financial services provider’s stock valued at $317,445,000 after buying an additional 611,374 shares during the last quarter. Aviva PLC increased its position in Wells Fargo & Co. by 0.7% in the first quarter. Aviva PLC now owns 3,065,051 shares of the financial services provider’s stock valued at $148,226,000 after buying an additional 22,620 shares during the last quarter. Finally, Primecap Management Co. CA increased its position in Wells Fargo & Co. by 20.5% in the first quarter. Primecap Management Co. CA now owns 18,501,167 shares of the financial services provider’s stock valued at $894,716,000 after buying an additional 3,149,895 shares during the last quarter. Hedge funds and other institutional investors own 73.98% of the company’s stock.
Wells Fargo & Co. Company Profile
Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.
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