Wells Fargo & Company (NYSE:WFC - Get Free Report) will likely be announcing its earnings results before the market opens on Friday, April 11th. Analysts expect the company to announce earnings of $1.24 per share and revenue of $20.82 billion for the quarter. Parties interested in registering for the company's conference call can do so using this link.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm's quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.86 earnings per share. On average, analysts expect Wells Fargo & Company to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.
Wells Fargo & Company Trading Down 7.2 %
Shares of NYSE WFC traded down $4.76 during mid-day trading on Friday, hitting $60.91. The company's stock had a trading volume of 31,028,896 shares, compared to its average volume of 17,232,166. The company's fifty day simple moving average is $75.26 and its 200-day simple moving average is $70.40. The stock has a market cap of $198.89 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.
Wells Fargo & Company Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.63%. Wells Fargo & Company's dividend payout ratio is 29.74%.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. Truist Financial lowered their target price on Wells Fargo & Company from $86.00 to $84.00 and set a "buy" rating for the company in a research note on Friday. UBS Group raised their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Bank of America dropped their price objective on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a research note on Wednesday. The Goldman Sachs Group boosted their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Finally, Citigroup cut their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $75.50.
View Our Latest Research Report on WFC
Institutional Investors Weigh In On Wells Fargo & Company
A hedge fund recently raised its stake in Wells Fargo & Company stock. Brighton Jones LLC grew its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 62.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 66,233 shares of the financial services provider's stock after acquiring an additional 25,436 shares during the quarter. Brighton Jones LLC's holdings in Wells Fargo & Company were worth $4,652,000 as of its most recent SEC filing. Institutional investors own 75.90% of the company's stock.
About Wells Fargo & Company
(
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Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.
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