Wells Fargo & Company Expected to Earn Q4 2017 Earnings of $1.08 Per Share (WFC)
Wells Fargo & Company (NYSE:WFC) – Stock analysts at Jefferies Group issued their Q4 2017 earnings estimates for shares of Wells Fargo & in a research report issued on Tuesday. Jefferies Group analyst K. Usdin anticipates that the financial services provider will earn $1.08 per share for the quarter.
WFC has been the topic of several other reports. Keefe, Bruyette & Woods set a $61.00 price target on shares of Wells Fargo & and gave the company a “buy” rating in a research note on Friday, August 25th. UBS AG set a $57.00 price target on shares of Wells Fargo & and gave the company a “neutral” rating in a research note on Friday, October 6th. Zacks Investment Research upgraded shares of Wells Fargo & from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Deutsche Bank AG reiterated a “buy” rating on shares of Wells Fargo & in a research note on Monday, July 3rd. Finally, Robert W. Baird reiterated a “buy” rating and issued a $58.00 price target on shares of Wells Fargo & in a research note on Tuesday, September 5th. Seven analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $57.19.
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Shares of Wells Fargo & (WFC) traded down 0.296% during midday trading on Thursday, reaching $55.495. 1,422,518 shares of the company were exchanged. The stock has a 50-day moving average price of $52.89 and a 200 day moving average price of $53.57. Wells Fargo & has a 52-week low of $44.28 and a 52-week high of $59.99. The company has a market capitalization of $275.47 billion, a P/E ratio of 13.669 and a beta of 0.97.
Wells Fargo & (NYSE:WFC) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.05. The firm had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.23 billion. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. Wells Fargo &’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 earnings per share.
Institutional investors have recently modified their holdings of the company. Delphi Private Advisors LLC lifted its holdings in shares of Wells Fargo & 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 period. Alexandria Capital LLC lifted its holdings in shares of Wells Fargo & by 0.3% during the 1st quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 6 shares during the period. Brick & Kyle Associates lifted its holdings in shares of Wells Fargo & 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 period. Stelac Advisory Services LLC bought a new stake in shares of Wells Fargo & during the 2nd quarter worth approximately $104,000. Finally, Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Wells Fargo & 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 period. 75.12% of the stock is owned by institutional investors.
Wells Fargo & announced that its Board of Directors has authorized a share buyback program on Wednesday, June 28th that permits the company to buyback $11.50 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 4.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management 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.
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