Q4 2024 EPS Estimates for Wells Fargo & Company (NYSE:WFC) Decreased by Analyst

Wells Fargo & Company (NYSE:WFC) – Stock analysts at Seaport Res Ptn dropped their Q4 2024 earnings per share (EPS) estimates for Wells Fargo & Company in a note issued to investors on Thursday, October 3rd. Seaport Res Ptn analyst J. Mitchell now forecasts that the financial services provider will post earnings of $1.31 per share 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.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $20.69 billion during 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%. Wells Fargo & Company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 earnings per share.

Other research analysts also recently issued research reports about the company. Evercore ISI boosted their price target on Wells Fargo & Company from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday. Jefferies Financial Group cut Wells Fargo & Company to a “hold” rating and decreased their target price for the company from $62.00 to $59.00 in a research report on Friday, August 16th. The Goldman Sachs Group decreased their target price on 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. 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 research report on Tuesday, September 3rd. Finally, Morgan Stanley decreased 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. Twelve research 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $60.41.

Wells Fargo & Company Stock Up 3.6 %

WFC stock opened at $56.96 on Friday. The company has a market cap of $198.58 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 1.32 and a beta of 1.16. The business has a 50-day simple moving average of $55.36 and a 200 day simple moving average of $57.75. Wells Fargo & Company has a 52 week low of $38.58 and a 52 week high of $62.55. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11.

Institutional Trading of Wells Fargo & Company

Several institutional investors have recently added to or reduced their stakes in the stock. Duncan Williams Asset Management LLC bought a new stake in Wells Fargo & Company in the third quarter valued at approximately $338,000. Apella Capital LLC boosted its holdings in Wells Fargo & Company by 11.3% in the third quarter. Apella Capital LLC now owns 27,560 shares of the financial services provider’s stock valued at $1,524,000 after acquiring an additional 2,805 shares during the last quarter. Trinity Financial Advisors LLC boosted its holdings in Wells Fargo & Company by 1.1% in the third quarter. Trinity Financial Advisors LLC now owns 24,317 shares of the financial services provider’s stock valued at $1,374,000 after acquiring an additional 257 shares during the last quarter. Farmers Trust Co. boosted its holdings in Wells Fargo & Company by 2.6% in the third quarter. Farmers Trust Co. now owns 11,963 shares of the financial services provider’s stock valued at $676,000 after acquiring an additional 300 shares during the last quarter. Finally, Czech National Bank lifted its stake in Wells Fargo & Company by 4.4% in the third quarter. Czech National Bank now owns 693,384 shares of the financial services provider’s stock valued at $39,169,000 after buying an additional 28,976 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.81%. Wells Fargo & Company’s dividend payout ratio is presently 32.85%.

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.