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S&P 500   4,297.14
DOW   33,912.44
QQQ   333.06
The Five Hottest Calls From The Q2 Earnings Season 
Market Wizard Who Accurately Predicted 2022 Market Collapse Has Shocking New Forecast (Ad)
Buffett's firm buys more Apple, Amazon while betting on oil
Norway hits export record amid soaring gas prices
Stocks end higher on Wall Street; economic worries hit oil
New $2.2 Quadrillion Trend About To Open Up (Ad)pixel
Myanmar executions revive pressure for more sanctions
Stocks higher on Wall Street; economic worries hit oil price
New climate deal spurs hopes of more carbon storage projects
Our Most Important Forecast in 50 Years Tectonic changes are on the way. (Ad)
S&P 500   4,297.14
DOW   33,912.44
QQQ   333.06
The Five Hottest Calls From The Q2 Earnings Season 
Market Wizard Who Accurately Predicted 2022 Market Collapse Has Shocking New Forecast (Ad)
Buffett's firm buys more Apple, Amazon while betting on oil
Norway hits export record amid soaring gas prices
Stocks end higher on Wall Street; economic worries hit oil
New $2.2 Quadrillion Trend About To Open Up (Ad)pixel
Myanmar executions revive pressure for more sanctions
Stocks higher on Wall Street; economic worries hit oil price
New climate deal spurs hopes of more carbon storage projects
Our Most Important Forecast in 50 Years Tectonic changes are on the way. (Ad)
S&P 500   4,297.14
DOW   33,912.44
QQQ   333.06
The Five Hottest Calls From The Q2 Earnings Season 
Market Wizard Who Accurately Predicted 2022 Market Collapse Has Shocking New Forecast (Ad)
Buffett's firm buys more Apple, Amazon while betting on oil
Norway hits export record amid soaring gas prices
Stocks end higher on Wall Street; economic worries hit oil
New $2.2 Quadrillion Trend About To Open Up (Ad)pixel
Myanmar executions revive pressure for more sanctions
Stocks higher on Wall Street; economic worries hit oil price
New climate deal spurs hopes of more carbon storage projects
Our Most Important Forecast in 50 Years Tectonic changes are on the way. (Ad)

FY2023 Earnings Forecast for Wells Fargo & Company (NYSE:WFC) Issued By Oppenheimer

Wells Fargo & Company (NYSE:WFC - Get Rating) - Equities researchers at Oppenheimer lifted their FY2023 earnings estimates for Wells Fargo & Company in a research report issued on Friday, July 29th. Oppenheimer analyst C. Kotowski now expects that the financial services provider will post earnings of $4.92 per share for the year, up from their prior estimate of $4.58. The consensus estimate for Wells Fargo & Company's current full-year earnings is $3.97 per share.

Several other analysts have also recently commented on WFC. Citigroup reduced their price objective on shares of Wells Fargo & Company from $56.00 to $47.00 and set a "buy" rating for the company in a research note on Tuesday, July 12th. BMO Capital Markets dropped their price target on shares of Wells Fargo & Company from $64.00 to $60.00 and set a "market perform" rating for the company in a research note on Monday, April 18th. Jefferies Financial Group lowered their target price on shares of Wells Fargo & Company from $55.00 to $47.00 in a research note on Monday, July 11th. Raymond James lowered their price target on shares of Wells Fargo & Company from $60.00 to $50.00 and set an "outperform" rating for the company in a research report on Friday, June 24th. Finally, Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $59.00 to $62.00 and gave the stock an "overweight" rating in a report on Monday, July 18th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $55.31.

Wells Fargo & Company Trading Up 1.3 %


NYSE WFC opened at $43.87 on Monday. The company has a market capitalization of $166.28 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 1.07 and a beta of 1.16. The firm's fifty day moving average price is $41.62 and its 200 day moving average price is $47.29. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.80. Wells Fargo & Company has a 12 month low of $36.54 and a 12 month high of $60.30.

Wells Fargo & Company (NYSE:WFC - Get Rating) last posted its earnings results on Friday, July 15th. The financial services provider reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.14). Wells Fargo & Company had a net margin of 22.52% and a return on equity of 10.67%. The firm had revenue of $17.03 billion during the quarter, compared to analyst estimates of $17.54 billion. During the same quarter in the previous year, the firm earned $1.38 earnings per share. The business's revenue for the quarter was down 16.0% compared to the same quarter last year.

Institutional Trading of Wells Fargo & Company

A number of institutional investors have recently made changes to their positions in the stock. Gibson Wealth Advisors LLC bought a new position in Wells Fargo & Company in the fourth quarter worth $25,000. FNY Investment Advisers LLC purchased a new position in Wells Fargo & Company in the first quarter worth about $25,000. Financial Management Professionals Inc. raised its stake in shares of Wells Fargo & Company by 193.3% in the first quarter. Financial Management Professionals Inc. now owns 522 shares of the financial services provider's stock worth $25,000 after buying an additional 344 shares during the period. KRS Capital Management LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth about $28,000. Finally, Addison Advisors LLC raised its stake in Wells Fargo & Company by 141.0% during the 4th quarter. Addison Advisors LLC now owns 629 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 368 shares during the period. Hedge funds and other institutional investors own 74.01% of the company's stock.

Insider Buying and Selling

In other news, EVP Kleber Santos sold 22,700 shares of the company's stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $44.44, for a total transaction of $1,008,788.00. Following the sale, the executive vice president now directly owns 21,478 shares in the company, valued at $954,482.32. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.05% of the stock is owned by insiders.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 5th will be issued a $0.30 dividend. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Thursday, August 4th. Wells Fargo & Company's payout ratio is 23.98%.

Wells Fargo & Company Company Profile

(Get Rating)

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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