Wells Fargo & Company (NYSE:WFC) – Equities researchers at Jefferies Financial Group increased their Q3 2021 earnings estimates for Wells Fargo & Company in a note issued to investors on Monday, July 19th. Jefferies Financial Group analyst K. Usdin now anticipates that the financial services provider will post earnings per share of $0.99 for the quarter, up from their prior estimate 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 equities analysts have also weighed in on WFC. UBS Group reiterated a “neutral” rating and set a $47.00 target price (up previously from $40.00) on shares of Wells Fargo & Company in a research note on Tuesday, May 25th. Robert W. Baird increased their target price on Wells Fargo & Company from $41.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, April 15th. Zacks Investment Research upgraded Wells Fargo & Company from a “hold” rating to a “strong-buy” rating and set a $49.00 target price on the stock in a research note on Friday, April 16th. Keefe, Bruyette & Woods initiated coverage on Wells Fargo & Company in a research note on Wednesday, July 7th. They set an “outperform” rating and a $57.00 target price on the stock. Finally, Morgan Stanley raised their price objective on Wells Fargo & Company from $47.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, April 15th. Nine equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $45.70.
Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data 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. The firm had revenue of $20.27 billion for the quarter, compared to analyst estimates of $17.69 billion. Wells Fargo & Company had a return on equity of 9.85% and a net margin of 19.79%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.66) earnings per share.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baron Silver Stevens Financial Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $26,000. Loomis Sayles & Co. L P bought a new position in Wells Fargo & Company during the 1st quarter worth $27,000. Bellwether Advisors LLC raised its position in Wells Fargo & Company by 172.3% during the 1st quarter. Bellwether Advisors LLC now owns 719 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 455 shares during the last quarter. RMR Wealth Builders bought a new position in Wells Fargo & Company during the 4th quarter worth $30,000. Finally, Wealthcare Capital Management LLC bought a new position in Wells Fargo & Company during the 1st quarter worth $30,000. 69.18% of the stock is currently owned by institutional investors.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 1st. Investors of record on Friday, May 7th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Thursday, May 6th. Wells Fargo & Company’s dividend payout ratio (DPR) is 72.73%.
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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