Wells Fargo & Company (NYSE:WFC) – Research analysts at Jefferies Group decreased their FY2017 earnings per share estimates for Wells Fargo & in a research report issued on Monday. Jefferies Group analyst K. Usdin now anticipates that the financial services provider will earn $4.00 per share for the year, down from their prior estimate of $4.20.

A number of other research analysts have also issued reports on WFC. Keefe, Bruyette & Woods reissued a “buy” rating and set a $62.00 target price on shares of Wells Fargo & in a research note on Friday, June 23rd. Vetr raised shares of Wells Fargo & from a “hold” rating to a “buy” rating and set a $55.95 target price for the company in a research note on Monday, June 26th. BidaskClub raised shares of Wells Fargo & from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Deutsche Bank AG reissued a “buy” rating on shares of Wells Fargo & in a research note on Monday, July 3rd. Finally, Zacks Investment Research raised shares of Wells Fargo & from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Six equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $57.14.

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Shares of Wells Fargo & (NYSE WFC) opened at 53.41 on Thursday. The firm has a market cap of $263.20 billion, a P/E ratio of 13.80 and a beta of 0.97. Wells Fargo & has a 52 week low of $44.32 and a 52 week high of $59.99. The stock’s 50 day moving average is $53.19 and its 200 day moving average is $53.50.

Wells Fargo & (NYSE:WFC) last announced its earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.20). Wells Fargo & had a return on equity of 12.59% and a net margin of 22.00%. The business had revenue of $21.93 billion for the quarter, compared to analyst estimates of $22.30 billion. During the same quarter last year, the company posted $1.03 EPS. Wells Fargo &’s quarterly revenue was down 1.8% on a year-over-year basis.

Hedge funds have recently added to or reduced their stakes in the stock. Boston Partners lifted its stake in Wells Fargo & by 50.0% during the first quarter. Boston Partners now owns 7,948,841 shares of the financial services provider’s stock valued at $442,432,000 after purchasing an additional 2,648,763 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Wells Fargo & by 83.9% during the first quarter. Canada Pension Plan Investment Board now owns 7,972,116 shares of the financial services provider’s stock valued at $443,728,000 after acquiring an additional 3,637,100 shares during the period. Kelman Lazarov Inc. raised its holdings in shares of Wells Fargo & by 6.0% during the second quarter. Kelman Lazarov Inc. now owns 64,172 shares of the financial services provider’s stock valued at $3,556,000 after acquiring an additional 3,612 shares during the period. First Citizens Bank & Trust Co. raised its holdings in shares of Wells Fargo & by 4.7% during the second quarter. First Citizens Bank & Trust Co. now owns 103,269 shares of the financial services provider’s stock valued at $5,722,000 after acquiring an additional 4,647 shares during the period. Finally, Dixon Hubard Feinour & Brown Inc. VA raised its holdings in shares of Wells Fargo & by 25.8% during the second quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 7,307 shares of the financial services provider’s stock valued at $405,000 after acquiring an additional 1,500 shares during the period. 75.09% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & announced that its board has initiated a share buyback plan on Wednesday, June 28th that permits the company to buyback $11.50 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 4.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are 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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