Wall Street analysts expect Wells Fargo & Co (NYSE:WFC) to announce $20.92 billion in sales for the current quarter, Zacks reports. Five analysts have made estimates for Wells Fargo & Co’s earnings, with the highest sales estimate coming in at $21.97 billion and the lowest estimate coming in at $20.27 billion. Wells Fargo & Co posted sales of $21.55 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 2.9%. The company is scheduled to issue its next earnings results before the market opens on Sunday, July 14th.

On average, analysts expect that Wells Fargo & Co will report full year sales of $83.57 billion for the current fiscal year, with estimates ranging from $82.58 billion to $84.81 billion. For the next financial year, analysts anticipate that the business will report sales of $82.77 billion, with estimates ranging from $81.80 billion to $84.51 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Wells Fargo & Co.

Wells Fargo & Co (NYSE:WFC) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.12. Wells Fargo & Co had a return on equity of 13.37% and a net margin of 22.59%. The company had revenue of $21.61 billion for the quarter, compared to analysts’ expectations of $20.89 billion. During the same period last year, the firm earned $0.96 EPS.

A number of equities analysts recently commented on WFC shares. Morgan Stanley decreased their target price on Wells Fargo & Co from $55.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, April 15th. Raymond James reaffirmed a “hold” rating on shares of Wells Fargo & Co in a report on Friday, April 12th. Deutsche Bank cut Wells Fargo & Co from a “buy” rating to a “hold” rating and decreased their target price for the stock from $56.00 to $54.00 in a report on Friday, March 29th. ValuEngine raised Wells Fargo & Co from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, BMO Capital Markets decreased their target price on Wells Fargo & Co from $65.00 to $63.00 and set a “market perform” rating on the stock in a report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $56.22.

In other Wells Fargo & Co news, insider Petros G. Pelos sold 28,304 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $46.51, for a total transaction of $1,316,419.04. Following the sale, the insider now directly owns 3,066 shares of the company’s stock, valued at $142,599.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.08% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Rehmann Capital Advisory Group increased its holdings in shares of Wells Fargo & Co by 17.3% in the first quarter. Rehmann Capital Advisory Group now owns 22,849 shares of the financial services provider’s stock worth $1,104,000 after purchasing an additional 3,364 shares during the last quarter. Elmwood Wealth Management Inc. increased its holdings in shares of Wells Fargo & Co by 2,252.0% in the first quarter. Elmwood Wealth Management Inc. now owns 4,022 shares of the financial services provider’s stock worth $194,000 after purchasing an additional 3,851 shares during the last quarter. Accident Compensation Corp bought a new stake in shares of Wells Fargo & Co in the first quarter worth about $580,000. GYL Financial Synergies LLC bought a new stake in shares of Wells Fargo & Co in the first quarter worth about $1,739,000. Finally, Allstate Corp increased its holdings in shares of Wells Fargo & Co by 521.3% in the first quarter. Allstate Corp now owns 265,243 shares of the financial services provider’s stock worth $12,817,000 after purchasing an additional 222,554 shares during the last quarter. 71.12% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Co stock traded up $0.61 during trading on Tuesday, reaching $46.17. The company had a trading volume of 13,425,354 shares, compared to its average volume of 19,579,894. Wells Fargo & Co has a 52 week low of $43.02 and a 52 week high of $59.53. The stock has a market cap of $225.21 billion, a P/E ratio of 10.54, a P/E/G ratio of 0.88 and a beta of 1.09. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.87 and a current ratio of 0.88.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.80 dividend on an annualized basis and a yield of 3.90%. Wells Fargo & Co’s dividend payout ratio is presently 41.10%.

About Wells Fargo & Co

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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