Wells Fargo & Company (NYSE:WFC - Free Report) - Investment analysts at Seaport Res Ptn cut their Q4 2024 earnings per share estimates for Wells Fargo & Company in a research note issued on Sunday, April 14th. Seaport Res Ptn analyst J. Mitchell now anticipates that the financial services provider will earn $1.40 per share for the quarter, down from their previous estimate of $1.48. The consensus estimate for Wells Fargo & Company's current full-year earnings is $4.68 per share. Seaport Res Ptn also issued estimates for Wells Fargo & Company's Q3 2025 earnings at $1.50 EPS.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.23 earnings per share.
WFC has been the subject of a number of other research reports. The Goldman Sachs Group increased their price target on Wells Fargo & Company from $57.00 to $65.00 and gave the company a "buy" rating in a report on Monday, April 1st. Jefferies Financial Group boosted their price objective on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a "hold" rating in a research note on Monday, April 8th. Raymond James lifted their target price on Wells Fargo & Company from $55.00 to $58.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 16th. Compass Point reiterated a "neutral" rating and set a $64.00 price target on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Finally, HSBC lifted their price target on Wells Fargo & Company from $55.00 to $60.00 and gave the company a "hold" rating in a report on Thursday, March 28th. Thirteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $58.85.
Read Our Latest Report on WFC
Wells Fargo & Company Stock Down 1.0 %
Shares of NYSE WFC traded down $0.57 on Tuesday, hitting $56.40. The company had a trading volume of 25,617,366 shares, compared to its average volume of 18,688,426. Wells Fargo & Company has a 12-month low of $36.40 and a 12-month high of $58.44. The business has a 50 day moving average of $55.25 and a two-hundred day moving average of $48.55. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $199.68 billion, a P/E ratio of 11.77, a PEG ratio of 1.18 and a beta of 1.19.
Hedge Funds Weigh In On Wells Fargo & Company
Several institutional investors and hedge funds have recently added to or reduced their stakes in WFC. Kathmere Capital Management LLC grew its position in Wells Fargo & Company by 19.5% during the 3rd quarter. Kathmere Capital Management LLC now owns 7,248 shares of the financial services provider's stock worth $296,000 after acquiring an additional 1,185 shares during the last quarter. Stoneridge Investment Partners LLC grew its position in Wells Fargo & Company by 410.5% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider's stock worth $2,757,000 after acquiring an additional 54,262 shares during the last quarter. United Services Automobile Association grew its position in Wells Fargo & Company by 13.7% during the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider's stock worth $4,000,000 after acquiring an additional 11,825 shares during the last quarter. Synovus Financial Corp grew its position in Wells Fargo & Company by 61.7% during the 3rd quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider's stock worth $4,983,000 after acquiring an additional 46,525 shares during the last quarter. Finally, Trust Point Inc. bought a new stake in Wells Fargo & Company during the 4th quarter worth approximately $2,499,000. 75.90% of the stock is currently owned by institutional investors.
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 dividend of $0.35 per share. The ex-dividend date was Thursday, February 1st. This represents a $1.40 annualized dividend and a yield of 2.48%. Wells Fargo & Company's dividend payout ratio is 29.23%.
About Wells Fargo & Company
(
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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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