Wells Fargo & Company Forecasted to Post Q4 2024 Earnings of $1.40 Per Share (NYSE:WFC)

Wells Fargo & Company (NYSE:WFC) – Equities research analysts at Seaport Res Ptn dropped their Q4 2024 earnings per share (EPS) estimates for Wells Fargo & Company in a research note issued on Sunday, April 14th. Seaport Res Ptn analyst J. Mitchell now forecasts that the financial services provider will post earnings of $1.40 per share for the quarter, down from their previous estimate of $1.48. The consensus estimate for Wells Fargo & Company’s current full-year earnings is $4.68 per share. Seaport Res Ptn also issued estimates for Wells Fargo & Company’s Q3 2025 earnings at $1.50 EPS.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.23 earnings per share.

A number of other analysts have also commented on WFC. StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $51.00 price target on shares of Wells Fargo & Company in a report on Tuesday, January 9th. Morgan Stanley lifted their target price on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday. Raymond James lifted their target price on Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 16th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $62.00 target price (up previously from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Thirteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $56.40 on Tuesday. The firm has a market cap of $199.68 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. The stock’s 50-day moving average is $55.25 and its 200-day moving average is $48.55. Wells Fargo & Company has a one year low of $36.40 and a one year high of $58.44. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86.

Hedge Funds Weigh In On Wells Fargo & Company

Institutional investors and hedge funds have recently made changes to their positions in the company. Defender Capital LLC. bought a new stake in shares of Wells Fargo & Company in the first quarter valued at approximately $246,000. Fairfield Bush & CO. bought a new stake in shares of Wells Fargo & Company in the first quarter valued at approximately $124,000. Dakota Wealth Management bought a new stake in shares of Wells Fargo & Company in the first quarter valued at approximately $222,000. Candriam Luxembourg S.C.A. boosted its stake in shares of Wells Fargo & Company by 0.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 273,936 shares of the financial services provider’s stock valued at $13,274,000 after buying an additional 770 shares during the period. Finally, Zions Bancorporation N.A. boosted its stake in shares of Wells Fargo & Company by 24.5% in the first quarter. Zions Bancorporation N.A. now owns 9,630 shares of the financial services provider’s stock valued at $467,000 after buying an additional 1,895 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s payout ratio is 29.23%.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.