Wells Fargo & Co (NYSE:WFC) – Equities research analysts at Oppenheimer raised their FY2017 earnings estimates for shares of Wells Fargo & Co in a report released on Tuesday. Oppenheimer analyst C. Kotowski now forecasts that the financial services provider will post earnings of $3.98 per share for the year, up from their previous forecast of $3.89. Oppenheimer also issued estimates for Wells Fargo & Co’s Q4 2017 earnings at $1.08 EPS and FY2018 earnings at $4.91 EPS.

Several other research firms have also weighed in on WFC. Vetr lowered shares of Wells Fargo & Co from a “hold” rating to a “sell” rating and set a $54.49 price objective on the stock. in a research note on Thursday, November 2nd. UBS Group reiterated a “neutral” rating and issued a $56.00 price target (down previously from $59.00) on shares of Wells Fargo & Co in a research note on Friday, September 15th. Zacks Investment Research upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. Piper Jaffray Companies reiterated a “neutral” rating and issued a $50.00 price target (down previously from $52.00) on shares of Wells Fargo & Co in a research note on Wednesday, September 13th. Finally, Buckingham Research upgraded shares of Wells Fargo & Co from a “neutral” rating to a “buy” rating and upped their price target for the company from $57.00 to $75.00 in a research note on Thursday, December 21st. They noted that the move was a valuation call. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $58.87.

Wells Fargo & Co (WFC) opened at $62.75 on Friday. The firm has a market cap of $309,220.00, a PE ratio of 16.21, a PEG ratio of 1.71 and a beta of 0.96. Wells Fargo & Co has a 52 week low of $49.27 and a 52 week high of $63.05. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.91.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $22.30 billion. Wells Fargo & Co had a return on equity of 12.59% and a net margin of 22.00%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 earnings per share.

In other Wells Fargo & Co news, insider Michael J. Loughlin sold 17,482 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $57.80, for a total transaction of $1,010,459.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Richard Levy sold 97,000 shares of the company’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 transaction of $5,477,590.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,482 shares of company stock worth $10,471,050. Company insiders own 0.22% of the company’s stock.

Several institutional investors have recently modified their holdings of WFC. Artisan Partners Limited Partnership lifted its stake in Wells Fargo & Co by 6.1% in the 1st quarter. Artisan Partners Limited Partnership now owns 1,237,557 shares of the financial services provider’s stock valued at $68,882,000 after purchasing an additional 71,330 shares during the last quarter. Alley Co LLC lifted its stake in Wells Fargo & Co by 63.8% in the 1st quarter. Alley Co LLC now owns 96,424 shares of the financial services provider’s stock valued at $5,367,000 after purchasing an additional 37,546 shares during the last quarter. Argent Capital Management LLC lifted its stake in Wells Fargo & Co by 40.2% in the 1st quarter. Argent Capital Management LLC now owns 418,696 shares of the financial services provider’s stock valued at $23,305,000 after purchasing an additional 120,093 shares during the last quarter. Investec Asset Management LTD lifted its stake in Wells Fargo & Co by 12.4% in the 1st quarter. Investec Asset Management LTD now owns 92,438 shares of the financial services provider’s stock valued at $5,145,000 after purchasing an additional 10,222 shares during the last quarter. Finally, SRS Capital Advisors Inc. lifted its stake in Wells Fargo & Co by 0.5% in the 1st quarter. SRS Capital Advisors Inc. now owns 43,631 shares of the financial services provider’s stock valued at $2,428,000 after purchasing an additional 215 shares during the last quarter. 75.70% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION WARNING: This article was first published by Watch List News and is owned by of Watch List News. If you are reading this article on another publication, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this article can be viewed at https://www.watchlistnews.com/oppenheimer-research-analysts-increase-earnings-estimates-for-wells-fargo-co-wfc/1797651.html.

About Wells Fargo & Co

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.

Receive News & Ratings for Wells Fargo & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co and related companies with Analyst Ratings Network's FREE daily email newsletter.