Wall Street brokerages expect that Wells Fargo & Co (NYSE:WFC) will report $1.18 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Wells Fargo & Co’s earnings. The lowest EPS estimate is $1.13 and the highest is $1.36. Wells Fargo & Co reported earnings of $1.13 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 4.4%. The business is scheduled to report its next earnings results on Friday, October 11th.

According to Zacks, analysts expect that Wells Fargo & Co will report full-year earnings of $4.78 per share for the current fiscal year, with EPS estimates ranging from $4.65 to $4.97. For the next financial year, analysts forecast that the company will report earnings of $4.52 per share, with EPS estimates ranging from $4.09 to $5.10. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Wells Fargo & Co.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $1.30 EPS for the quarter, beating the consensus estimate of $1.16 by $0.14. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.95 billion. Wells Fargo & Co had a return on equity of 13.74% and a net margin of 23.26%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 EPS.

WFC has been the subject of several recent analyst reports. UBS Group downgraded Wells Fargo & Co from a “buy” rating to a “neutral” rating and cut their price objective for the company from $51.00 to $49.00 in a report on Tuesday, September 10th. BMO Capital Markets cut their price objective on Wells Fargo & Co to $59.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. Zacks Investment Research downgraded Wells Fargo & Co from a “hold” rating to a “sell” rating and set a $48.00 price objective for the company. in a report on Thursday, June 27th. Odeon Capital Group raised Wells Fargo & Co from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Atlantic Securities downgraded Wells Fargo & Co from a “neutral” rating to an “underweight” rating and set a $42.00 price target for the company. in a report on Tuesday, June 11th. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the stock. Wells Fargo & Co presently has an average rating of “Hold” and an average target price of $50.74.

Shares of NYSE WFC traded down $0.19 during trading hours on Monday, hitting $48.73. The company had a trading volume of 216,216 shares, compared to its average volume of 17,296,038. The stock has a market capitalization of $214.36 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 0.95 and a beta of 1.09. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 1.36. Wells Fargo & Co has a 1-year low of $43.02 and a 1-year high of $55.81. The firm’s 50 day moving average is $46.52 and its 200-day moving average is $47.26.

Wells Fargo & Co announced that its Board of Directors has initiated a stock repurchase plan on Thursday, June 27th that allows the company to buyback $23.10 billion in shares. This buyback authorization allows the financial services provider to buy up to 11.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were issued a dividend of $0.51 per share. This is an increase from Wells Fargo & Co’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $2.04 annualized dividend and a yield of 4.19%. Wells Fargo & Co’s dividend payout ratio (DPR) is currently 46.58%.

A number of institutional investors have recently made changes to their positions in WFC. Daily Journal Corp lifted its holdings in Wells Fargo & Co by 9,900.0% during the 2nd quarter. Daily Journal Corp now owns 159,180,000 shares of the financial services provider’s stock valued at $75,324,000 after purchasing an additional 157,588,200 shares during the last quarter. Nuveen Asset Management LLC increased its position in Wells Fargo & Co by 10,041.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 20,960,596 shares of the financial services provider’s stock worth $991,856,000 after buying an additional 20,753,922 shares during the period. AQR Capital Management LLC increased its position in Wells Fargo & Co by 216.1% during the 2nd quarter. AQR Capital Management LLC now owns 7,564,725 shares of the financial services provider’s stock worth $357,963,000 after buying an additional 5,171,498 shares during the period. Longview Partners Guernsey LTD increased its position in Wells Fargo & Co by 24.2% during the 2nd quarter. Longview Partners Guernsey LTD now owns 26,122,688 shares of the financial services provider’s stock worth $1,236,126,000 after buying an additional 5,090,670 shares during the period. Finally, Primecap Management Co. CA increased its position in Wells Fargo & Co by 10.0% during the 2nd quarter. Primecap Management Co. CA now owns 50,564,911 shares of the financial services provider’s stock worth $2,392,732,000 after buying an additional 4,600,225 shares during the period. 75.29% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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