Wells Fargo & Company to Post Q4 2017 Earnings of $1.17 Per Share, Jefferies Group Forecasts (WFC)

Wells Fargo & Company (NYSE:WFC) – Jefferies Group boosted their Q4 2017 earnings per share (EPS) estimates for Wells Fargo & Company in a research note issued on Friday. Jefferies Group analyst K. Usdin now forecasts that the financial services provider will post earnings of $1.17 per share for the quarter, up from their prior estimate of $1.09. Jefferies Group also issued estimates for Wells Fargo & Company’s Q1 2018 earnings at $0.92 EPS, Q2 2018 earnings at $1.04 EPS and FY2018 earnings at $4.25 EPS.

Wells Fargo & Company (NYSE:WFC) last released 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). The firm had revenue of $21.93 billion during the quarter, compared to analyst estimates of $22.30 billion. Wells Fargo & Company had a net margin of 22.00% and a return on equity of 12.59%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 earnings per share.

Several other equities analysts also recently weighed in on WFC. Keefe, Bruyette & Woods set a $61.00 target price on Wells Fargo & Company and gave the company a “buy” rating in a research report on Friday, August 25th. Robert W. Baird reissued a “buy” rating and set a $58.00 price objective on shares of Wells Fargo & Company in a research report on Tuesday, September 5th. Vetr raised Wells Fargo & Company to a “strong-buy” rating in a research report on Thursday, September 7th. Piper Jaffray Companies reissued a “neutral” rating and set a $50.00 price objective (down from $52.00) on shares of Wells Fargo & Company in a research report on Wednesday, September 13th. Finally, UBS reissued a “neutral” rating and set a $56.00 price objective (down from $59.00) on shares of Wells Fargo & Company in a research report on Friday, September 15th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $57.25.

Wells Fargo & Company (NYSE:WFC) opened at $60.92 on Monday. The firm has a market capitalization of $294,815.50, a PE ratio of 14.46, a price-to-earnings-growth ratio of 1.44 and a beta of 0.96. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89. Wells Fargo & Company has a 52-week low of $49.27 and a 52-week high of $61.13.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 3rd were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend was Thursday, November 2nd. Wells Fargo & Company’s dividend payout ratio (DPR) is 40.31%.

In other Wells Fargo & Company news, VP Richard Levy sold 97,000 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael J. Loughlin sold 17,482 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $57.80, for a total value of $1,010,459.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,482 shares of company stock valued at $10,471,050. 0.22% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Delphi Private Advisors LLC raised its stake in shares of Wells Fargo & Company by 262.8% during the second quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 1,461 shares during the last quarter. Brick & Kyle Associates raised its stake in shares of Wells Fargo & Company by 9.5% during the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 162 shares during the last quarter. Stelac Advisory Services LLC purchased a new stake in shares of Wells Fargo & Company during the second quarter worth approximately $104,000. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Wells Fargo & Company by 0.3% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 6 shares during the last quarter. Finally, Clear Investment Research LLC purchased a new stake in shares of Wells Fargo & Company during the second quarter worth approximately $121,000. Institutional investors own 75.69% of the company’s stock.

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Wells Fargo & Company 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 & Company (NYSE:WFC)

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