Wells Fargo & Company (NYSE:WFC) to Post Q2 2022 Earnings of $1.17 Per Share, Jefferies Financial Group Forecasts

Wells Fargo & Company (NYSE:WFCGet Rating) – Investment analysts at Jefferies Financial Group boosted their Q2 2022 EPS estimates for shares of Wells Fargo & Company in a research note issued on Monday, April 11th. Jefferies Financial Group analyst K. Usdin now expects that the financial services provider will earn $1.17 per share for the quarter, up from their previous forecast of $1.09. Jefferies Financial Group also issued estimates for Wells Fargo & Company’s Q3 2022 earnings at $1.30 EPS, Q4 2022 earnings at $1.38 EPS, FY2022 earnings at $4.65 EPS and Q2 2023 earnings at $1.46 EPS.

WFC has been the subject of a number of other reports. Atlantic Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “overweight” rating and set a $60.00 price target for the company in a research report on Tuesday, February 1st. Citigroup raised shares of Wells Fargo & Company from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $58.00 to $56.00 in a research report on Monday. Barclays raised shares of Wells Fargo & Company from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $50.00 to $62.00 in a research report on Monday, January 3rd. Piper Sandler reduced their price target on shares of Wells Fargo & Company from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, March 31st. Finally, The Goldman Sachs Group reissued a “hold” rating and issued a $56.00 price target on shares of Wells Fargo & Company in a research report on Friday, January 14th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $57.50.

NYSE WFC opened at $48.42 on Tuesday. The company has a 50 day simple moving average of $52.23 and a 200-day simple moving average of $51.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.82 and a quick ratio of 0.80. The firm has a market capitalization of $184.07 billion, a price-to-earnings ratio of 9.72, a price-to-earnings-growth ratio of 1.19 and a beta of 1.15. Wells Fargo & Company has a 52-week low of $39.06 and a 52-week high of $60.30.

Wells Fargo & Company (NYSE:WFCGet Rating) last announced its earnings results on Friday, January 14th. The financial services provider reported $1.38 EPS for the quarter, topping the consensus estimate of $1.09 by $0.29. Wells Fargo & Company had a net margin of 26.43% and a return on equity of 12.73%. The company had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $18.61 billion. During the same period last year, the company posted $0.64 earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis.

Several institutional investors have recently made changes to their positions in WFC. Norges Bank acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $1,566,470,000. Capital World Investors acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at $1,046,312,000. Altshuler Shaham Ltd boosted its stake in shares of Wells Fargo & Company by 738,917.8% in the 3rd quarter. Altshuler Shaham Ltd now owns 5,557,414 shares of the financial services provider’s stock valued at $308,897,000 after purchasing an additional 5,556,662 shares in the last quarter. Boston Partners raised its holdings in shares of Wells Fargo & Company by 39.8% in the third quarter. Boston Partners now owns 15,675,969 shares of the financial services provider’s stock valued at $727,759,000 after buying an additional 4,462,674 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Wells Fargo & Company by 7.1% in the third quarter. Invesco Ltd. now owns 41,077,680 shares of the financial services provider’s stock valued at $1,906,415,000 after buying an additional 2,710,324 shares during the last quarter. Institutional investors and hedge funds own 69.01% of the company’s stock.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 1st. Stockholders of record on Friday, February 4th were paid a $0.25 dividend. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, February 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.07%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 20.08%.

Wells Fargo & Company Company Profile (Get Rating)

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

Further Reading

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

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