Q4 2024 Earnings Forecast for Wells Fargo & Company (NYSE:WFC) Issued By Seaport Res Ptn

Wells Fargo & Company (NYSE:WFC - Free Report) - Equities research analysts at Seaport Res Ptn cut their Q4 2024 earnings per share estimates for Wells Fargo & Company in a research report issued to clients and investors on Saturday, October 12th. Seaport Res Ptn analyst J. Mitchell now expects that the financial services provider will post earnings of $1.30 per share for the quarter, down from their prior forecast of $1.31. The consensus estimate for Wells Fargo & Company's current full-year earnings is $5.12 per share. Seaport Res Ptn also issued estimates for Wells Fargo & Company's Q1 2025 earnings at $1.18 EPS.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.14. The firm had revenue of $20.37 billion during the quarter, compared to analysts' expectations of $20.40 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. Wells Fargo & Company's revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.39 EPS.

A number of other equities research analysts have also recently commented on the company. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research note on Monday. Deutsche Bank Aktiengesellschaft upgraded shares of 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. BMO Capital Markets upped their price objective on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a "market perform" rating in a research report on Thursday, July 11th. Compass Point lifted their target price on Wells Fargo & Company from $57.00 to $60.00 and gave the stock a "neutral" rating in a report on Tuesday. Finally, Piper Sandler raised their price target on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a "neutral" rating in a research report on Monday. Thirteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $61.82.

Wells Fargo & Company Trading Up 1.4 %

Wells Fargo & Company stock traded up $0.88 during trading hours on Tuesday, reaching $63.04. 24,687,186 shares of the company's stock traded hands, compared to its average volume of 18,081,809. Wells Fargo & Company has a fifty-two week low of $38.58 and a fifty-two week high of $63.82. The firm's 50 day moving average is $55.81 and its 200-day moving average is $57.86. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market capitalization of $219.78 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.46 and a beta of 1.16.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 2.54%. Wells Fargo & Company's payout ratio is currently 32.85%.

Insider Activity

In related news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the transaction, the executive vice president now owns 126,687 shares in the company, valued at approximately $7,853,327.13. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.08% of the stock is owned by insiders.

Institutional Investors Weigh In On Wells Fargo & Company

A number of large investors have recently added to or reduced their stakes in the business. John W. Brooker & Co. CPAs increased its holdings in shares of Wells Fargo & Company by 2.5% in the second quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider's stock valued at $420,000 after purchasing an additional 171 shares during the last quarter. McAdam LLC grew its stake in Wells Fargo & Company by 3.3% in the 2nd quarter. McAdam LLC now owns 5,609 shares of the financial services provider's stock valued at $333,000 after buying an additional 178 shares during the last quarter. Eclectic Associates Inc. ADV grew its stake in Wells Fargo & Company by 1.2% in the 3rd quarter. Eclectic Associates Inc. ADV now owns 15,452 shares of the financial services provider's stock valued at $873,000 after buying an additional 178 shares during the last quarter. Prentice Wealth Management LLC raised its holdings in Wells Fargo & Company by 2.0% in the 2nd quarter. Prentice Wealth Management LLC now owns 9,426 shares of the financial services provider's stock valued at $560,000 after acquiring an additional 184 shares during the period. Finally, Clearstead Trust LLC lifted its position in Wells Fargo & Company by 13.0% during the first quarter. Clearstead Trust LLC now owns 1,617 shares of the financial services provider's stock worth $94,000 after acquiring an additional 186 shares during the last quarter. Institutional investors own 75.90% of the company's stock.

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.