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.
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Shares of Wells Fargo & (NYSE WFC) opened at 55.21 on Wednesday. The company has a market capitalization of $274.06 billion, a P/E ratio of 13.60 and a beta of 0.97. The firm has a 50 day moving average price of $52.98 and a 200 day moving average price of $53.58. Wells Fargo & has a one year low of $44.32 and a one year high of $59.99.
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.
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