Wells Fargo & Company (NYSE:WFC) – Stock analysts at Jefferies Group boosted their Q3 2017 earnings per share estimates for Wells Fargo & in a note issued to investors on Monday. Jefferies Group analyst K. Usdin now expects that the financial services provider will earn $1.05 per share for the quarter, up from their previous estimate of $1.03. Jefferies Group also issued estimates for Wells Fargo &’s FY2017 earnings at $4.20 EPS, Q1 2018 earnings at $0.98 EPS, Q2 2018 earnings at $1.07 EPS, Q3 2018 earnings at $1.14 EPS and Q4 2018 earnings at $1.16 EPS.

Several other research firms have also recently weighed in on WFC. UBS AG reissued a “neutral” rating and set a $56.00 price objective (down previously from $59.00) on shares of Wells Fargo & in a research report on Friday, September 15th. Piper Jaffray Companies reissued a “neutral” rating and set a $50.00 price objective (down previously from $52.00) on shares of Wells Fargo & in a research report on Wednesday, September 13th. Berenberg Bank cut Wells Fargo & from a “hold” rating to a “sell” rating and boosted their price objective for the stock from $35.00 to $45.00 in a research report on Friday, July 21st. Robert W. Baird reissued a “buy” rating and set a $58.00 price objective on shares of Wells Fargo & in a research report on Tuesday, September 5th. Finally, Keefe, Bruyette & Woods reissued an “overweight” rating on shares of Wells Fargo & in a research report on Thursday, July 13th. Eight research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $57.19.

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Shares of Wells Fargo & (WFC) opened at 55.61 on Wednesday. The firm has a market cap of $276.04 billion, a price-to-earnings ratio of 13.70 and a beta of 0.97. Wells Fargo & has a 52 week low of $44.28 and a 52 week high of $59.99. The firm’s 50-day moving average price is $52.79 and its 200-day moving average price is $53.56.

Wells Fargo & (NYSE:WFC) last posted its earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.05. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The business had revenue of $22.20 billion during the quarter, compared to analyst estimates of $22.23 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Wells Fargo & by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 314,755,460 shares of the financial services provider’s stock valued at $17,440,601,000 after purchasing an additional 3,621,402 shares during the period. Capital World Investors lifted its stake 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 valued at $6,192,259,000 after purchasing an additional 10,927,679 shares during the period. Capital Research Global Investors lifted its stake 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 valued at $2,511,614,000 after purchasing an additional 7,445,414 shares during the period. Dimensional Fund Advisors LP lifted its stake 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 valued at $1,653,464,000 after purchasing an additional 6,291,906 shares during the period. Finally, Davis Selected Advisers lifted its stake in shares of Wells Fargo & by 1.9% in the 2nd quarter. Davis Selected Advisers now owns 25,966,811 shares of the financial services provider’s stock valued at $1,438,821,000 after purchasing an additional 472,585 shares during the period. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & declared that its board has authorized a share buyback plan on Wednesday, June 28th that authorizes the company to repurchase $11.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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.

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

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