Wells Fargo & Company Forecasted to Post Q4 2024 Earnings of $1.40 Per Share (NYSE:WFC)

Wells Fargo & Company (NYSE:WFC) – Equities researchers at Seaport Res Ptn lowered their Q4 2024 earnings estimates for shares of Wells Fargo & Company in a research note issued to investors on Sunday, April 14th. Seaport Res Ptn analyst J. Mitchell now anticipates that the financial services provider will post earnings per share of $1.40 for the quarter, down from their previous forecast of $1.48. The consensus estimate for Wells Fargo & Company’s current full-year earnings is $4.68 per share. Seaport Res Ptn also issued estimates for Wells Fargo & Company’s Q3 2025 earnings at $1.50 EPS.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same quarter last year, the business posted $1.23 EPS. Wells Fargo & Company’s quarterly revenue was up .6% compared to the same quarter last year.

Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group raised their price target on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Citigroup reiterated a “neutral” rating and issued a $63.00 price objective (up from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Barclays lifted their price objective on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $51.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, January 9th. Thirteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and an average price target of $58.85.

Wells Fargo & Company Trading Down 1.0 %

Shares of WFC stock opened at $56.40 on Tuesday. The company has a 50 day moving average of $55.25 and a 200-day moving average of $48.55. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a 12-month low of $36.40 and a 12-month high of $58.44. The firm has a market cap of $199.68 billion, a P/E ratio of 11.77, a PEG ratio of 1.18 and a beta of 1.19.

Institutional Trading of Wells Fargo & Company

Hedge funds have recently made changes to their positions in the stock. Kathmere Capital Management LLC lifted its holdings in shares of Wells Fargo & Company by 19.5% during the 3rd quarter. Kathmere Capital Management LLC now owns 7,248 shares of the financial services provider’s stock worth $296,000 after acquiring an additional 1,185 shares during the last quarter. Stoneridge Investment Partners LLC increased its position in shares of Wells Fargo & Company by 410.5% in the third quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock valued at $2,757,000 after acquiring an additional 54,262 shares during the period. United Services Automobile Association increased its position in shares of Wells Fargo & Company by 13.7% in the third quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock valued at $4,000,000 after acquiring an additional 11,825 shares during the period. Synovus Financial Corp increased its position in shares of Wells Fargo & Company by 61.7% in the third quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock valued at $4,983,000 after acquiring an additional 46,525 shares during the period. Finally, Trust Point Inc. purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at about $2,499,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

About Wells Fargo & Company

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