Wells Fargo & Company (NYSE:WFC) – Equities research analysts at Jefferies Group issued their Q4 2017 earnings per share (EPS) estimates for Wells Fargo & in a research note issued to investors on Tuesday. Jefferies Group analyst K. Usdin anticipates that the financial services provider will earn $1.08 per share for the quarter.
Wells Fargo & (NYSE:WFC) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. The firm had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $22.23 billion. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.01 earnings per share. ILLEGAL ACTIVITY WARNING: This story was first reported by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this story on another domain, it was illegally stolen and republished in violation of United States & international trademark & copyright laws. The original version of this story can be accessed at https://sportsperspectives.com/2017/10/13/wells-fargo-company-to-post-q4-2017-earnings-of-1-08-per-share-jefferies-group-forecasts-wfc.html.
A number of other analysts have also weighed in on the company. Vetr raised Wells Fargo & to a “strong-buy” rating in a research report on Thursday, September 7th. Berenberg Bank lowered Wells Fargo & from a “hold” rating to a “sell” rating and upped their price objective for the stock from $35.00 to $45.00 in a research report on Friday, July 21st. Deutsche Bank AG reaffirmed a “buy” rating on shares of Wells Fargo & in a research report on Monday, July 3rd. Robert W. Baird reaffirmed a “buy” rating and set a $58.00 price objective on shares of Wells Fargo & in a research report on Tuesday, September 5th. Finally, Zacks Investment Research raised Wells Fargo & from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Seven research analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $57.19.
Shares of Wells Fargo & (NYSE WFC) traded down 3.71% during midday trading on Thursday, reaching $53.16. 8,978,441 shares of the company were exchanged. The stock has a market capitalization of $263.88 billion, a price-to-earnings ratio of 13.09 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 company’s 50-day moving average price is $52.98 and its 200 day moving average price is $53.58.
A number of hedge funds have recently added to or reduced their stakes in the business. Delphi Private Advisors LLC boosted its holdings in shares of Wells Fargo & by 262.8% in the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 1,461 shares during the last quarter. Alexandria Capital LLC boosted its holdings in shares of Wells Fargo & by 0.3% in the 1st quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 6 shares during the last quarter. Brick & Kyle Associates boosted its holdings in shares of Wells Fargo & by 9.5% in the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 162 shares during the last quarter. Stelac Advisory Services LLC acquired a new position in shares of Wells Fargo & in the 2nd quarter valued at $104,000. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Wells Fargo & by 0.3% in 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. 75.12% of the stock is owned by hedge funds and other institutional investors.
Wells Fargo & declared that its board has authorized a stock buyback plan on Wednesday, June 28th that allows the company to buyback $11.50 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 4.2% of its stock through open market purchases. Stock buyback plans are generally a sign 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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