Wells Fargo & Company (NYSE:WFC) issued its earnings results on Friday. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10, Briefing.com reports. Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The firm had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same period last year, the company earned $1.23 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis.
Wells Fargo & Company Price Performance
NYSE WFC opened at $56.47 on Friday. The company has a 50 day moving average price of $54.92 and a two-hundred day moving average price of $48.27. Wells Fargo & Company has a 12-month low of $36.40 and a 12-month high of $58.44. The stock has a market capitalization of $199.93 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.
Wells Fargo & Company Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were paid a $0.35 dividend. The ex-dividend date was Thursday, February 1st. This represents a $1.40 annualized dividend and a dividend yield of 2.48%. Wells Fargo & Company’s payout ratio is 29.23%.
Wall Street Analysts Forecast Growth
Read Our Latest Research Report on WFC
Hedge Funds Weigh In On Wells Fargo & Company
Several hedge funds have recently bought and sold shares of the business. Core Wealth Advisors Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $25,000. Arlington Trust Co LLC acquired a new position in Wells Fargo & Company during the 4th quarter worth $25,000. Tennessee Valley Asset Management Partners bought a new stake in Wells Fargo & Company during the fourth quarter valued at about $29,000. Fortis Group Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at about $25,000. Finally, Transcendent Capital Group LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth about $32,000. 75.90% of the stock is owned by institutional investors and hedge funds.
About Wells Fargo & Company
Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
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