Q1 2018 EPS Estimates for Wells Fargo & Co (WFC) Decreased by Analyst

Wells Fargo & Co (NYSE:WFC) – Analysts at Jefferies Group dropped their Q1 2018 earnings per share estimates for Wells Fargo & Co in a research note issued to investors on Thursday. Jefferies Group analyst K. Usdin now anticipates that the financial services provider will post earnings of $1.01 per share for the quarter, down from their previous estimate of $1.02. Jefferies Group also issued estimates for Wells Fargo & Co’s Q2 2018 earnings at $1.12 EPS, Q3 2018 earnings at $1.23 EPS, Q4 2018 earnings at $1.24 EPS, FY2018 earnings at $4.60 EPS and FY2019 earnings at $5.25 EPS.

A number of other brokerages have also weighed in on WFC. Sandler O’Neill raised Wells Fargo & Co from a “hold” rating to a “buy” rating and lifted their target price for the company from $62.04 to $73.00 in a research report on Tuesday, January 9th. Vetr lowered Wells Fargo & Co from a “hold” rating to a “sell” rating and set a $54.49 target price for the company. in a research report on Thursday, November 2nd. Royal Bank of Canada lowered Wells Fargo & Co from an “outperform” rating to an “underperform” rating in a research report on Monday. Zacks Investment Research raised Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $60.00 target price on shares of Wells Fargo & Co in a research report on Monday. Six analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Wells Fargo & Co currently has a consensus rating of “Hold” and an average price target of $76.81.

Shares of Wells Fargo & Co (NYSE WFC) opened at $55.40 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $281,428.16, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 1.50 and a beta of 1.01. Wells Fargo & Co has a 1 year low of $49.27 and a 1 year high of $66.31.

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

Wells Fargo & Co announced that its Board of Directors has approved a share repurchase program on Tuesday, January 23rd that authorizes the company to repurchase 350,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 2nd will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $1.56 annualized dividend and a yield of 2.82%. Wells Fargo & Co’s dividend payout ratio (DPR) is 38.33%.

In related news, insider Michael J. Loughlin sold 17,482 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $57.80, for a total transaction of $1,010,459.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Richard Levy sold 97,000 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.47, for a total value of $5,477,590.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,482 shares of company stock worth $10,471,050. 0.22% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC grew its stake in Wells Fargo & Co 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 valued at $106,000 after purchasing an additional 6 shares during the last quarter. Winch Advisory Services LLC grew its stake in Wells Fargo & Co by 0.7% during the 2nd quarter. Winch Advisory Services LLC now owns 2,776 shares of the financial services provider’s stock valued at $154,000 after purchasing an additional 20 shares during the last quarter. Jackson Grant Investment Advisers Inc. grew its stake in Wells Fargo & Co by 0.5% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 4,954 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 26 shares during the last quarter. Financial Advisory Group grew its stake in Wells Fargo & Co by 0.7% during the 2nd quarter. Financial Advisory Group now owns 5,029 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 35 shares during the last quarter. Finally, Financial Advisory Service Inc. grew its stake in Wells Fargo & Co by 0.6% during the 2nd quarter. Financial Advisory Service Inc. now owns 7,067 shares of the financial services provider’s stock valued at $392,000 after purchasing an additional 42 shares during the last quarter. Institutional investors and hedge funds own 76.20% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Q1 2018 EPS Estimates for Wells Fargo & Co (WFC) Decreased by Analyst” was originally published by American Banking News and is the property of of American Banking News. If you are viewing this news story on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2018/02/09/q1-2018-eps-estimates-for-wells-fargo-co-wfc-decreased-by-analyst.html.

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.

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

Receive News & Ratings for Wells Fargo & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply