Seaport Res Ptn Analysts Increase Earnings Estimates for WFC

Wells Fargo & Company (NYSE:WFC - Free Report) - Analysts at Seaport Res Ptn boosted their FY2024 EPS estimates for shares of Wells Fargo & Company in a research report issued on Tuesday, January 7th. Seaport Res Ptn analyst J. Mitchell now forecasts that the financial services provider will earn $5.43 per share for the year, up from their prior estimate of $5.40. The consensus estimate for Wells Fargo & Company's current full-year earnings is $5.43 per share. Seaport Res Ptn also issued estimates for Wells Fargo & Company's Q3 2025 earnings at $1.50 EPS, Q4 2025 earnings at $1.50 EPS and FY2026 earnings at $6.60 EPS.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.14. The firm had revenue of $20.37 billion for the quarter, compared to analysts' expectations of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business's quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.39 earnings per share.

A number of other analysts also recently issued reports on the company. Barclays lifted their price target on Wells Fargo & Company from $75.00 to $90.00 and gave the company an "overweight" rating in a research report on Monday. UBS Group lifted their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Wolfe Research raised shares of Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 price target on the stock in a report on Tuesday, October 8th. Truist Financial initiated coverage on shares of Wells Fargo & Company in a report on Tuesday. They set a "buy" rating and a $82.00 price objective for the company. Finally, Phillip Securities upgraded shares of Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and upped their target price for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Twelve analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $69.92.

Wells Fargo & Company Price Performance

NYSE:WFC traded down $1.56 during trading hours on Friday, hitting $70.01. 14,336,973 shares of the company's stock traded hands, compared to its average volume of 12,904,512. Wells Fargo & Company has a 52 week low of $46.12 and a 52 week high of $78.13. The business's fifty day simple moving average is $72.13 and its two-hundred day simple moving average is $62.89. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The firm has a market cap of $233.10 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.47 and a beta of 1.18.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WFC. Dimensional Fund Advisors LP grew its stake in Wells Fargo & Company by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider's stock worth $1,178,591,000 after purchasing an additional 831,975 shares during the period. National Pension Service boosted its holdings in shares of Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider's stock valued at $383,532,000 after buying an additional 897,195 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in shares of Wells Fargo & Company by 2.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider's stock worth $375,183,000 after buying an additional 162,066 shares during the period. Nordea Investment Management AB increased its stake in shares of Wells Fargo & Company by 10.1% in the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider's stock worth $441,983,000 after acquiring an additional 575,892 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of Wells Fargo & Company by 730.4% in the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider's stock worth $336,375,000 after acquiring an additional 5,237,500 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total value of $3,822,000.00. Following the sale, the executive vice president now directly owns 163,610 shares in the company, valued at approximately $10,421,957. This trade represents a 26.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of the business's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $61.99, for a total value of $2,169,650.00. Following the transaction, the executive vice president now directly owns 126,687 shares in the company, valued at $7,853,327.13. This trade represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.08% of the company's stock.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.29%. Wells Fargo & Company's payout ratio is currently 33.26%.

Wells Fargo & Company Company Profile

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.