Wells Fargo & Company (NYSE:WFC) – Stock analysts at Jefferies Financial Group increased their Q3 2021 earnings estimates for shares of Wells Fargo & Company in a research note issued on Monday, July 19th. Jefferies Financial Group analyst K. Usdin now expects that the financial services provider will post earnings of $0.99 per share for the quarter, up from their prior forecast of $0.95. 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 FY2021 earnings at $4.25 EPS.
A number of other analysts have also weighed in on WFC. Odeon Capital Group lowered shares of Wells Fargo & Company from a “buy” rating to a “hold” rating in a report on Monday. Keefe, Bruyette & Woods assumed coverage on shares of Wells Fargo & Company in a report on Wednesday, July 7th. They set an “outperform” rating and a $57.00 target price for the company. Robert W. Baird increased their target price on shares of Wells Fargo & Company from $41.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, April 15th. JPMorgan Chase & Co. increased their target price on shares of Wells Fargo & Company from $41.50 to $47.00 and gave the stock a “neutral” rating in a report on Monday, May 3rd. Finally, Royal Bank of Canada increased their target price on shares of Wells Fargo & Company from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 7th. Nine investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $45.70.
Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, July 13th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.40. Wells Fargo & Company had a net margin of 19.79% and a return on equity of 9.85%. The business had revenue of $20.27 billion during the quarter, compared to analyst estimates of $17.69 billion. During the same period in the prior year, the business posted ($0.66) earnings per share. The company’s revenue was up 10.8% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Friday, May 7th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Thursday, May 6th. Wells Fargo & Company’s dividend payout ratio is 72.73%.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Baron Silver Stevens Financial Advisors LLC bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $26,000. Loomis Sayles & Co. L P bought a new stake in shares of Wells Fargo & Company during the first quarter valued at approximately $27,000. Bellwether Advisors LLC increased its position in shares of Wells Fargo & Company by 172.3% during the first quarter. Bellwether Advisors LLC now owns 719 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 455 shares in the last quarter. RMR Wealth Builders bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $30,000. Finally, Wealthcare Capital Management LLC bought a new stake in shares of Wells Fargo & Company during the first quarter valued at approximately $30,000. 69.18% of the stock is owned by institutional investors and hedge funds.
About Wells Fargo & Company
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.
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