Wells Fargo & Company (WFC) to Release Quarterly Earnings on Friday

Wells Fargo & Company (NYSE:WFC - Get Free Report) will issue its quarterly earnings data before the market opens on Friday, October 11th. Analysts expect the company to announce earnings of $1.27 per share for the quarter. Investors interested in registering for the company's conference call can do so using this link.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The business had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business's revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business earned $1.25 earnings per share. On average, analysts expect Wells Fargo & Company to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock traded up $1.98 during midday trading on Friday, reaching $56.96. 14,594,449 shares of the company were exchanged, compared to its average volume of 18,007,127. The company has a market capitalization of $198.58 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 1.32 and a beta of 1.16. 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's 50-day simple moving average is $55.36 and its 200-day simple moving average is $57.76. Wells Fargo & Company has a 1 year low of $38.58 and a 1 year high of $62.55.

Wells Fargo & Company Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on WFC shares. The Goldman Sachs Group decreased their target price on shares of Wells Fargo & Company from $68.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, September 11th. Jefferies Financial Group lowered shares of Wells Fargo & Company to a "hold" rating and decreased their price target for the company from $62.00 to $59.00 in a report on Friday, August 16th. Evercore ISI upped their price objective on Wells Fargo & Company from $65.00 to $68.00 and gave the stock an "outperform" rating in a report on Wednesday. Morgan Stanley cut their target price on Wells Fargo & Company from $68.00 to $67.00 and set an "overweight" rating on the stock in a research report on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $65.00 price target for the company in a research report on Tuesday, September 3rd. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $60.41.

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.