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
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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