Wells Fargo & Company to Post FY2016 Earnings of $4.06 Per Share, Jefferies Group Forecasts (WFC)

Wells Fargo & Company (NYSE:WFC) – Research analysts at Jefferies Group decreased their FY2016 EPS estimates for shares of Wells Fargo & Company in a research note issued on Monday. Jefferies Group analyst K. Usdin now anticipates that the brokerage will post earnings per share of $4.06 for the year, down from their prior estimate of $4.10. Jefferies Group currently has a “Hold” rating and a $58.00 target price on the stock. Jefferies Group also issued estimates for Wells Fargo & Company’s Q4 2016 earnings at $1.03 EPS.

A number of other brokerages have also issued reports on WFC. Deutsche Bank AG reiterated a “buy” rating and set a $50.00 price target (down from $59.00) on shares of Wells Fargo & Company in a research note on Friday, September 16th. Vetr upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $47.92 price target on the stock in a research note on Monday, September 19th. Bank of America Corporation set a $50.00 price target on shares of Wells Fargo & Company and gave the stock a “buy” rating in a research note on Monday, September 19th. Credit Suisse Group dropped their price target on shares of Wells Fargo & Company from $56.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, September 23rd. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $56.00 price target on shares of Wells Fargo & Company in a research note on Friday, September 23rd. Eight investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $50.59.

WARNING: This piece was originally published by Community Financial News and is the propert of of Community Financial News. If you are viewing this piece on another domain, it was illegally copied and republished in violation of United States and international copyright and trademark laws. The correct version of this piece can be accessed at https://www.com-unik.info/2017/01/11/wells-fargo-company-to-post-fy2016-earnings-of-4-06-per-share-jefferies-group-forecasts-wfc.html.

Wells Fargo & Company (NYSE:WFC) traded down 0.31% on Wednesday, reaching $54.45. 8,997,960 shares of the company’s stock were exchanged. The company has a market cap of $273.46 billion, a P/E ratio of 13.51 and a beta of 0.99. Wells Fargo & Company has a 12-month low of $43.55 and a 12-month high of $58.02. The firm has a 50 day moving average of $54.87 and a 200-day moving average of $49.25.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, October 14th. The financial services provider reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.02. Wells Fargo & Company had a net margin of 23.91% and a return on equity of 12.72%. The firm had revenue of $22.30 billion for the quarter. During the same period in the prior year, the business posted $1.05 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. WARNING: This piece was originally published by Community Financial News and is the propert of of Community Financial News. If you are viewing this piece on another domain, it was illegally copied and republished in violation of United States and international copyright and trademark laws. The correct version of this piece can be accessed at https://www.com-unik.info/2017/01/11/wells-fargo-company-to-post-fy2016-earnings-of-4-06-per-share-jefferies-group-forecasts-wfc.html.

Hedge funds have recently modified their holdings of the stock. Parnassus Investments CA increased its stake in shares of Wells Fargo & Company by 879.2% in the second quarter. Parnassus Investments CA now owns 12,240,229 shares of the financial services provider’s stock valued at $579,330,000 after buying an additional 10,990,229 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Wells Fargo & Company by 2.2% in the second quarter. Vanguard Group Inc. now owns 288,028,042 shares of the financial services provider’s stock valued at $13,632,368,000 after buying an additional 6,247,583 shares in the last quarter. Orbis Allan Gray Ltd purchased a new stake in shares of Wells Fargo & Company during the third quarter valued at $235,404,000. Dimensional Fund Advisors LP increased its stake in shares of Wells Fargo & Company by 13.8% in the second quarter. Dimensional Fund Advisors LP now owns 24,714,185 shares of the financial services provider’s stock valued at $1,169,680,000 after buying an additional 2,987,795 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in shares of Wells Fargo & Company by 76.9% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 6,742,003 shares of the financial services provider’s stock valued at $319,099,000 after buying an additional 2,931,875 shares in the last quarter. Hedge funds and other institutional investors own 72.63% of the company’s stock.

About Wells Fargo & Company

Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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