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GOOGL   94.94 (-2.10%)
AMZN   88.46 (+0.24%)
TSLA   174.04 (-3.21%)
NVDA   161.20 (+0.83%)
NIO   12.58 (-4.98%)
BABA   88.33 (-3.41%)
AMD   70.14 (-0.19%)
T   19.30 (+0.68%)
MU   53.82 (+0.26%)
CGC   3.24 (-10.25%)
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GE   85.00 (-0.33%)
DIS   92.15 (-0.15%)
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PYPL   74.42 (+3.03%)
PFE   50.24 (+1.07%)
NFLX   308.42 (+0.94%)
QQQ   280.53 (-0.41%)
AAPL   140.94 (-1.38%)
MSFT   244.37 (-0.31%)
META   113.93 (-0.17%)
GOOGL   94.94 (-2.10%)
AMZN   88.46 (+0.24%)
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PFE   50.24 (+1.07%)
NFLX   308.42 (+0.94%)
QQQ   280.53 (-0.41%)
AAPL   140.94 (-1.38%)
MSFT   244.37 (-0.31%)
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BABA   88.33 (-3.41%)
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T   19.30 (+0.68%)
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Oppenheimer Weighs in on Wells Fargo & Company's Q1 2023 Earnings (NYSE:WFC)

Wells Fargo & Company (NYSE:WFC - Get Rating) - Equities researchers at Oppenheimer issued their Q1 2023 EPS estimates for Wells Fargo & Company in a research report issued on Thursday, November 17th. Oppenheimer analyst C. Kotowski forecasts that the financial services provider will post earnings of $1.00 per share for the quarter. The consensus estimate for Wells Fargo & Company's current full-year earnings is $3.81 per share. Oppenheimer also issued estimates for Wells Fargo & Company's Q2 2023 earnings at $1.26 EPS, Q3 2023 earnings at $1.34 EPS, Q4 2023 earnings at $1.34 EPS and FY2024 earnings at $5.57 EPS.

WFC has been the topic of a number of other reports. Piper Sandler lifted their price objective on shares of Wells Fargo & Company from $48.00 to $49.00 and gave the company an "overweight" rating in a research note on Monday, October 17th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Wells Fargo & Company from $62.00 to $60.00 and set a "buy" rating on the stock in a research note on Monday, September 12th. BMO Capital Markets upped their target price on shares of Wells Fargo & Company from $61.00 to $63.00 and gave the stock a "market perform" rating in a research report on Monday, October 17th. StockNews.com initiated coverage on shares of Wells Fargo & Company in a research report on Wednesday, October 12th. They set a "hold" rating on the stock. Finally, Morgan Stanley lowered their target price on shares of Wells Fargo & Company from $62.00 to $59.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 5th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of "Moderate Buy" and an average target price of $55.03.

Wells Fargo & Company Trading Down 0.5 %


NYSE WFC opened at $45.99 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $175.24 billion, a PE ratio of 11.95, a P/E/G ratio of 1.19 and a beta of 1.16. Wells Fargo & Company has a one year low of $36.54 and a one year high of $60.30. The firm's fifty day moving average is $44.03 and its two-hundred day moving average is $43.17.

Wells Fargo & Company (NYSE:WFC - Get Rating) last posted its quarterly earnings data on Friday, October 14th. The financial services provider reported $0.85 EPS for the quarter, missing analysts' consensus estimates of $1.09 by ($0.24). The business had revenue of $19.51 billion during the quarter, compared to analyst estimates of $18.78 billion. Wells Fargo & Company had a net margin of 19.95% and a return on equity of 10.95%. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.17 earnings per share.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 4th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Thursday, November 3rd. Wells Fargo & Company's payout ratio is 31.17%.

Hedge Funds Weigh In On Wells Fargo & Company

Large investors have recently bought and sold shares of the stock. Vise Technologies Inc. purchased a new position in Wells Fargo & Company during the first quarter worth approximately $269,000. Truvestments Capital LLC purchased a new position in Wells Fargo & Company during the second quarter worth approximately $26,000. IFM Investors Pty Ltd raised its stake in Wells Fargo & Company by 17.3% during the first quarter. IFM Investors Pty Ltd now owns 628,740 shares of the financial services provider's stock worth $30,469,000 after purchasing an additional 92,802 shares during the period. Alyeska Investment Group L.P. raised its stake in Wells Fargo & Company by 153.5% during the first quarter. Alyeska Investment Group L.P. now owns 760,564 shares of the financial services provider's stock worth $36,857,000 after purchasing an additional 460,534 shares during the period. Finally, Chiron Capital Management LLC purchased a new position in Wells Fargo & Company during the second quarter worth approximately $681,000. Hedge funds and other institutional investors own 72.23% of the company's stock.

About Wells Fargo & Company

(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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