$21.74 Billion in Sales Expected for Wells Fargo & Co (WFC) This Quarter

Wall Street brokerages expect Wells Fargo & Co (NYSE:WFC) to report sales of $21.74 billion for the current quarter, Zacks reports. Four analysts have provided estimates for Wells Fargo & Co’s earnings, with estimates ranging from $21.31 billion to $22.54 billion. Wells Fargo & Co posted sales of $22.00 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.2%. The firm is scheduled to issue its next quarterly earnings results on Thursday, April 12th.

On average, analysts expect that Wells Fargo & Co will report full-year sales of $21.74 billion for the current year, with estimates ranging from $87.21 billion to $91.07 billion. For the next financial year, analysts expect that the company will post sales of $91.97 billion per share, with estimates ranging from $88.62 billion to $96.14 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Wells Fargo & Co.

Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Friday, January 12th. The financial services provider reported $0.97 EPS for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.07). The company had revenue of $22.05 billion during the quarter, compared to the consensus estimate of $22.64 billion. Wells Fargo & Co had a return on equity of 12.24% and a net margin of 22.57%. Wells Fargo & Co’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 earnings per share.

A number of equities analysts have commented on the stock. Royal Bank of Canada upped their target price on shares of Wells Fargo & Co to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 16th. Vetr downgraded shares of Wells Fargo & Co from a “hold” rating to a “sell” rating and set a $53.07 target price on the stock. in a research note on Monday, October 2nd. Keefe, Bruyette & Woods restated a “buy” rating on shares of Wells Fargo & Co in a research note on Tuesday, January 16th. Instinet restated a “buy” rating and issued a $65.00 target price (up from $64.00) on shares of Wells Fargo & Co in a research note on Saturday, September 30th. Finally, Atlantic Securities upgraded shares of Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $64.00 target price on the stock in a research note on Wednesday, January 10th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $61.71.

In related news, insider Michael J. Loughlin sold 17,482 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $57.80, for a total transaction of $1,010,459.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John R. Shrewsberry sold 70,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.90, for a total transaction of $3,983,000.00. The disclosure for this sale can be found here. Insiders sold a total of 184,482 shares of company stock valued at $10,471,050 in the last ninety days. Corporate insiders own 0.22% of the company’s stock.

A number of large investors have recently bought and sold shares of WFC. Confluence Investment Management LLC lifted its position in Wells Fargo & Co by 13.4% during the second quarter. Confluence Investment Management LLC now owns 4,675 shares of the financial services provider’s stock valued at $259,000 after acquiring an additional 554 shares during the last quarter. First Financial Bank Trust Division lifted its position in Wells Fargo & Co by 1.7% during the second quarter. First Financial Bank Trust Division now owns 125,220 shares of the financial services provider’s stock valued at $6,938,000 after acquiring an additional 2,036 shares during the last quarter. Banced Corp lifted its position in Wells Fargo & Co by 7.2% during the second quarter. Banced Corp now owns 3,911 shares of the financial services provider’s stock valued at $217,000 after acquiring an additional 262 shares during the last quarter. Narwhal Capital Management lifted its position in Wells Fargo & Co by 33.7% during the second quarter. Narwhal Capital Management now owns 85,035 shares of the financial services provider’s stock valued at $4,712,000 after acquiring an additional 21,450 shares during the last quarter. Finally, Pennsylvania Trust Co lifted its position in Wells Fargo & Co by 7.1% during the second quarter. Pennsylvania Trust Co now owns 186,376 shares of the financial services provider’s stock valued at $10,335,000 after acquiring an additional 12,282 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

Wells Fargo & Co (NYSE WFC) opened at $64.22 on Monday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.90 and a quick ratio of 0.88. The company has a market cap of $316,470.00, a PE ratio of 15.55, a price-to-earnings-growth ratio of 1.69 and a beta of 0.96. Wells Fargo & Co has a one year low of $49.27 and a one year high of $64.31.

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

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