Q2 2021 EPS Estimates for Wells Fargo & Company Lifted by Analyst (NYSE:WFC)

Wells Fargo & Company (NYSE:WFC) – Equities researchers at Jefferies Financial Group raised their Q2 2021 EPS estimates for Wells Fargo & Company in a research note issued to investors on Thursday, April 15th. Jefferies Financial Group analyst K. Usdin now expects that the financial services provider will earn $1.08 per share for the quarter, up from their previous estimate of $0.94. Jefferies Financial Group has a “Buy” rating and a $45.00 price objective on the stock. Jefferies Financial Group also issued estimates for Wells Fargo & Company’s Q3 2021 earnings at $1.06 EPS, Q4 2021 earnings at $1.04 EPS, Q1 2022 earnings at $0.87 EPS, Q2 2022 earnings at $1.10 EPS, Q3 2022 earnings at $1.14 EPS, Q4 2022 earnings at $1.19 EPS and FY2022 earnings at $4.30 EPS.

WFC has been the subject of a number of other research reports. TheStreet lowered Wells Fargo & Company from a “b-” rating to a “c” rating in a research report on Wednesday, February 24th. Piper Sandler lifted their target price on Wells Fargo & Company from $25.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, December 21st. UBS Group reissued a “buy” rating and set a $40.00 price objective on shares of Wells Fargo & Company in a research note on Wednesday. Evercore ISI boosted their price objective on Wells Fargo & Company from $38.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday. They noted that the move was a valuation call. Finally, Royal Bank of Canada boosted their target price on Wells Fargo & Company from $34.00 to $40.00 in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $39.25.

Shares of WFC stock opened at $42.24 on Friday. The stock has a market capitalization of $174.63 billion, a PE ratio of 114.16, a P/E/G ratio of 4.84 and a beta of 1.07. Wells Fargo & Company has a 1-year low of $20.76 and a 1-year high of $42.26. The business has a 50-day moving average of $39.04 and a 200 day moving average of $31.06. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.87 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, April 13th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.36. Wells Fargo & Company had a return on equity of 3.18% and a net margin of 3.72%. The company had revenue of $18.06 billion for the quarter, compared to analyst estimates of $17.42 billion. During the same period in the previous year, the company posted $0.01 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 1st. Investors of record on Friday, February 5th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, February 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.95%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 9.13%.

Institutional investors and hedge funds have recently modified their holdings of the company. Baron Silver Stevens Financial Advisors LLC purchased a new stake in Wells Fargo & Company in the fourth quarter valued at about $26,000. Hoover Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $30,000. RMR Wealth Builders purchased a new position in Wells Fargo & Company during the fourth quarter worth approximately $30,000. Key Financial Inc purchased a new position in Wells Fargo & Company during the fourth quarter worth approximately $31,000. Finally, Flagship Private Wealth LLC purchased a new stake in Wells Fargo & Company in the fourth quarter valued at $31,000. 67.25% of the stock is currently owned by institutional investors and hedge funds.

About Wells Fargo & Company

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. It operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

Further Reading: Net Margin

Earnings History and Estimates for Wells Fargo & Company (NYSE:WFC)

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