Wells Fargo & Company (NYSE:WFC) Forecasted to Earn Q4 2024 Earnings of $1.31 Per Share

Wells Fargo & Company (NYSE:WFC - Free Report) - Seaport Res Ptn decreased their Q4 2024 EPS estimates for Wells Fargo & Company in a report issued on Thursday, October 3rd. Seaport Res Ptn analyst J. Mitchell now anticipates that the financial services provider will post earnings per share of $1.31 for the quarter, down from their prior forecast of $1.32. The consensus estimate for Wells Fargo & Company's current full-year earnings is $5.14 per share. Seaport Res Ptn also issued estimates for Wells Fargo & Company's Q1 2025 earnings at $1.19 EPS, Q3 2025 earnings at $1.42 EPS, Q4 2025 earnings at $1.46 EPS and FY2025 earnings at $5.50 EPS.

Several other analysts also recently issued reports on the company. Morgan Stanley lowered their price target on Wells Fargo & Company from $68.00 to $67.00 and set an "overweight" rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $65.00 target price on the stock in a report on Tuesday, September 3rd. Evercore ISI upped their price target on Wells Fargo & Company from $65.00 to $68.00 and gave the stock an "outperform" rating in a report on Wednesday. The Goldman Sachs Group dropped their price objective on shares of Wells Fargo & Company from $68.00 to $65.00 and set a "buy" rating on the stock in a research note on Wednesday, September 11th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Wells Fargo & Company from $62.00 to $61.00 and set a "market perform" rating for the company in a research note on Monday, July 15th. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $60.41.

Wells Fargo & Company Trading Up 3.6 %

Shares of WFC stock traded up $1.98 during mid-day trading on Friday, reaching $56.96. The company's stock had a trading volume of 14,437,412 shares, compared to its average volume of 18,007,127. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $198.58 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 1.32 and a beta of 1.16. The company's 50 day simple moving average is $55.43 and its 200-day simple moving average is $57.76. Wells Fargo & Company has a 12-month low of $38.58 and a 12-month high of $62.55.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.29 by $0.04. The business had revenue of $20.69 billion during the quarter, compared to analysts' expectations of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 EPS.

Institutional Trading of Wells Fargo & Company

Several institutional investors have recently added to or reduced their stakes in the business. Slagle Financial LLC raised its position in shares of Wells Fargo & Company by 97.3% during the 4th quarter. Slagle Financial LLC now owns 138,594 shares of the financial services provider's stock worth $6,822,000 after purchasing an additional 68,356 shares during the period. Ballentine Partners LLC lifted its stake in Wells Fargo & Company by 5.4% in the first quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider's stock valued at $2,074,000 after buying an additional 1,835 shares during the last quarter. Wedmont Private Capital boosted its holdings in shares of Wells Fargo & Company by 16.4% during the first quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider's stock valued at $8,805,000 after acquiring an additional 21,496 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Wells Fargo & Company by 28.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 473,444 shares of the financial services provider's stock worth $27,441,000 after acquiring an additional 106,260 shares during the last quarter. Finally, FORVIS Wealth Advisors LLC increased its holdings in shares of Wells Fargo & Company by 154.2% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 27,222 shares of the financial services provider's stock worth $1,578,000 after acquiring an additional 16,515 shares during the period. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Friday, August 9th. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.35. Wells Fargo & Company's payout ratio is currently 32.85%.

Wells Fargo & Company Company Profile

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.