Wells Fargo & Company (NYSE:WFC) Expected to Earn Q4 2024 Earnings of $1.30 Per Share

Wells Fargo & Company (NYSE:WFC) – Research analysts at Seaport Res Ptn cut their Q4 2024 earnings per share (EPS) estimates for shares of Wells Fargo & Company in a research report issued on Saturday, October 12th. Seaport Res Ptn analyst J. Mitchell now forecasts that the financial services provider will post earnings of $1.30 per share for the quarter, down from their previous 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) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.14. The business had revenue of $20.37 billion for the quarter, compared to analysts’ expectations of $20.40 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 down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.39 EPS.

Other research analysts have also issued research reports about the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday. Keefe, Bruyette & Woods lowered their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, July 15th. 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 report on Wednesday, September 11th. Piper Sandler boosted their target price on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Evercore ISI boosted their target price on Wells Fargo & Company from $68.00 to $71.00 and gave the stock an “outperform” rating in a report on Monday. Thirteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $61.86.

Wells Fargo & Company Trading Up 1.9 %

NYSE WFC opened at $62.16 on Tuesday. The stock has a market capitalization of $216.71 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 1.46 and a beta of 1.16. The stock’s 50 day moving average price is $55.59 and its two-hundred day moving average price is $57.82. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 52 week low of $38.58 and a 52 week high of $63.35.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.57%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9th. Wells Fargo & Company’s payout ratio is presently 32.85%.

Institutional Investors Weigh In On Wells Fargo & Company

A number of institutional investors have recently added to or reduced their stakes in the business. John W. Brooker & Co. CPAs grew its holdings in Wells Fargo & Company by 2.5% during the 2nd quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock worth $420,000 after acquiring an additional 171 shares during the last quarter. McAdam LLC boosted its stake in shares of 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 purchasing an additional 178 shares during the last quarter. Eclectic Associates Inc. ADV boosted its stake in shares of 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 purchasing an additional 178 shares during the last quarter. Prentice Wealth Management LLC boosted its stake in shares of 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 purchasing an additional 184 shares during the last quarter. Finally, Clearstead Trust LLC boosted its stake in shares of Wells Fargo & Company by 13.0% in the 1st quarter. Clearstead Trust LLC now owns 1,617 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 186 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

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.