Equities research analysts forecast that Wells Fargo & Co (NYSE:WFC) will report $1.07 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Wells Fargo & Co’s earnings, with the lowest EPS estimate coming in at $1.01 and the highest estimate coming in at $1.21. Wells Fargo & Co reported earnings per share of $1.00 in the same quarter last year, which suggests a positive year over year growth rate of 7%. The company is scheduled to report its next quarterly earnings report on Thursday, April 12th.
According to Zacks, analysts expect that Wells Fargo & Co will report full year earnings of $4.72 per share for the current year, with EPS estimates ranging from $4.52 to $5.02. For the next year, analysts anticipate that the business will post earnings of $5.26 per share, with EPS estimates ranging from $5.03 to $5.53. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Wells Fargo & Co.
Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.07). Wells Fargo & Co had a net margin of 22.57% and a return on equity of 12.24%. The company had revenue of $22.05 billion for the quarter, compared to the consensus estimate of $22.64 billion. During the same period last year, the company earned $0.96 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis.
Wells Fargo & Co (NYSE WFC) traded up $0.36 on Friday, hitting $59.17. 21,099,092 shares of the company’s stock traded hands, compared to its average volume of 26,640,000. Wells Fargo & Co has a twelve month low of $49.27 and a twelve month high of $66.31. The company has a market cap of $291,370.00, a P/E ratio of 17.15, a PEG ratio of 1.56 and a beta of 1.01. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.90 and a quick ratio of 0.88.
Wells Fargo & Co announced that its board has authorized a share buyback program on Tuesday, January 23rd that permits the company to repurchase 350,000,000 outstanding shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 2nd will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Thursday, February 1st. Wells Fargo & Co’s dividend payout ratio (DPR) is currently 45.22%.
In related news, insider Michael J. Loughlin sold 17,482 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $57.80, for a total value of $1,010,459.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Richard Levy sold 97,000 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.47, for a total transaction of $5,477,590.00. The disclosure for this sale can be found here. Insiders sold a total of 184,482 shares of company stock worth $10,471,050 over the last three months. 0.22% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of WFC. Vanguard Group Inc. increased its position in shares of Wells Fargo & Co by 1.2% during the second quarter. Vanguard Group Inc. now owns 314,755,460 shares of the financial services provider’s stock worth $17,440,601,000 after acquiring an additional 3,621,402 shares during the period. Capital World Investors increased its position in shares of Wells Fargo & Co by 10.8% during the second quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock worth $6,192,259,000 after acquiring an additional 10,927,679 shares during the period. Geode Capital Management LLC increased its position in shares of Wells Fargo & Co by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 46,311,774 shares of the financial services provider’s stock worth $2,803,705,000 after acquiring an additional 584,764 shares during the period. Capital Research Global Investors increased its position in shares of Wells Fargo & Co by 19.7% during the second quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock worth $2,511,614,000 after acquiring an additional 7,445,414 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Wells Fargo & Co by 17.8% during the third quarter. Dimensional Fund Advisors LP now owns 35,143,414 shares of the financial services provider’s stock worth $1,937,888,000 after acquiring an additional 5,305,125 shares during the period. 75.69% of the stock is currently owned by institutional investors.
About Wells Fargo & Co
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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