Wells Fargo & Company (NYSE:WFC) – Investment analysts at Jefferies Group lifted their Q3 2017 earnings estimates for shares of Wells Fargo & in a research note issued on Monday. Jefferies Group analyst K. Usdin now forecasts that the financial services provider will earn $1.05 per share for the quarter, up from their previous estimate of $1.03. Jefferies Group also issued estimates for Wells Fargo &’s FY2017 earnings at $4.20 EPS, Q1 2018 earnings at $0.98 EPS, Q2 2018 earnings at $1.07 EPS, Q3 2018 earnings at $1.14 EPS and Q4 2018 earnings at $1.16 EPS.
WFC has been the topic of a number of other reports. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $62.00 price objective on shares of Wells Fargo & in a research note on Friday, June 23rd. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Wells Fargo & in a research note on Wednesday. BidaskClub raised Wells Fargo & from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Vetr raised Wells Fargo & from a “hold” rating to a “buy” rating and set a $55.95 price objective on the stock in a research note on Monday, June 26th. Finally, Vertical Group began coverage on Wells Fargo & in a research note on Friday, October 6th. They issued a “sell” rating on the stock. Seven analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $57.19.
COPYRIGHT VIOLATION NOTICE: “Jefferies Group Equities Analysts Raise Earnings Estimates for Wells Fargo & Company (WFC)” was first posted by Community Financial News and is owned by of Community Financial News. If you are viewing this article on another website, it was copied illegally and reposted in violation of United States and international copyright laws. The correct version of this article can be accessed at https://www.com-unik.info/2017/10/13/jefferies-group-equities-analysts-raise-earnings-estimates-for-wells-fargo-company-wfc.html.
Wells Fargo & (NYSE:WFC) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.05. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The company had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $22.23 billion. During the same period in the prior year, the company earned $1.01 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year.
Wells Fargo & declared that its board has approved a stock repurchase plan on Wednesday, June 28th that permits the company to repurchase $11.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 4.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.
A number of institutional investors have recently bought and sold shares of WFC. Boston Partners lifted its stake in Wells Fargo & by 140.1% in the second quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock valued at $1,057,700,000 after purchasing an additional 11,139,780 shares during the last quarter. Capital World Investors lifted its stake in Wells Fargo & by 10.8% in the second quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock valued at $6,192,259,000 after purchasing an additional 10,927,679 shares during the last quarter. Capital Research Global Investors lifted its stake in Wells Fargo & by 19.7% in the second quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock valued at $2,511,614,000 after purchasing an additional 7,445,414 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Wells Fargo & by 26.7% in the second quarter. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider’s stock valued at $1,653,464,000 after purchasing an additional 6,291,906 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Wells Fargo & by 396.3% in the second quarter. Janus Henderson Group PLC now owns 5,894,918 shares of the financial services provider’s stock valued at $326,655,000 after purchasing an additional 4,707,207 shares during the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.
About Wells Fargo &
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
What are top analysts saying about Wells Fargo & Company? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Wells Fargo & Company and related companies.