Wells Fargo & Company (NYSE:WFC – Get Rating) – Equities research analysts at Oppenheimer issued their Q1 2023 EPS estimates for shares of Wells Fargo & Company in a note issued to investors on Thursday, November 17th. Oppenheimer analyst C. Kotowski forecasts that the financial services provider will earn $1.00 per share for the quarter. The consensus estimate for Wells Fargo & Company’s current full-year earnings is $3.81 per share. Oppenheimer also issued estimates for Wells Fargo & Company’s Q2 2023 earnings at $1.26 EPS, Q3 2023 earnings at $1.34 EPS, Q4 2023 earnings at $1.34 EPS and FY2024 earnings at $5.57 EPS.
Several other equities analysts have also commented on the company. BMO Capital Markets boosted their target price on shares of Wells Fargo & Company from $61.00 to $63.00 and gave the company a “market perform” rating in a report on Monday, October 17th. StockNews.com initiated coverage on shares of Wells Fargo & Company in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. The Goldman Sachs Group upgraded shares of Wells Fargo & Company from a “neutral” rating to a “buy” rating and lifted their target price for the company from $46.00 to $48.00 in a report on Monday, October 3rd. Deutsche Bank Aktiengesellschaft cut their price target on Wells Fargo & Company from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, September 12th. Finally, Piper Sandler lifted their price objective on Wells Fargo & Company from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Monday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus price target of $55.03.
Wells Fargo & Company Trading Up 1.1 %
Wells Fargo & Company (NYSE:WFC – Get Rating) last posted its quarterly earnings data on Friday, October 14th. The financial services provider reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.24). Wells Fargo & Company had a net margin of 19.95% and a return on equity of 10.95%. The firm had revenue of $19.51 billion for the quarter, compared to the consensus estimate of $18.78 billion. During the same period in the previous year, the firm posted $1.17 earnings per share. The business’s revenue was up 3.6% compared to the same quarter last year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. IFM Investors Pty Ltd raised its stake in shares of Wells Fargo & Company by 17.3% in the first quarter. IFM Investors Pty Ltd now owns 628,740 shares of the financial services provider’s stock worth $30,469,000 after buying an additional 92,802 shares during the period. Defender Capital LLC. purchased a new position in Wells Fargo & Company during the first quarter valued at approximately $246,000. Integrated Advisors Network LLC boosted its position in shares of Wells Fargo & Company by 12.6% in the first quarter. Integrated Advisors Network LLC now owns 22,371 shares of the financial services provider’s stock worth $1,084,000 after purchasing an additional 2,511 shares during the period. Atria Investments LLC increased its stake in shares of Wells Fargo & Company by 13.7% in the first quarter. Atria Investments LLC now owns 136,886 shares of the financial services provider’s stock worth $6,633,000 after purchasing an additional 16,546 shares in the last quarter. Finally, Brandywine Oak Private Wealth LLC purchased a new stake in shares of Wells Fargo & Company in the first quarter worth $596,000. 72.23% of the stock is owned by hedge funds and other institutional investors.
Wells Fargo & Company Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 4th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.58%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 31.17%.
Wells Fargo & Company Company Profile
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.
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