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

Wells Fargo & Company (NYSE:WFC) is set to post its quarterly earnings results before the market opens on Friday, April 12th. Analysts expect Wells Fargo & Company to post earnings of $1.10 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.30). The business had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.30 billion. Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.67 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 Trading Down 0.4 %

NYSE:WFC opened at $57.57 on Wednesday. The stock has a 50-day simple moving average of $54.48 and a 200-day simple moving average of $47.99. The stock has a market cap of $203.82 billion, a P/E ratio of 11.94, a P/E/G ratio of 1.19 and a beta of 1.19. Wells Fargo & Company has a 1 year low of $36.40 and a 1 year high of $58.44. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.88 and a current ratio of 0.88.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $1.40 annualized dividend and a dividend yield of 2.43%. Wells Fargo & Company’s dividend payout ratio is currently 29.05%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Raymond James upped their target price on Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 16th. Compass Point reissued a “neutral” rating and issued a $64.00 target price on shares of Wells Fargo & Company in a research report on Tuesday. StockNews.com cut Wells Fargo & Company from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. Barclays upped their price objective on Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $62.00 price objective (up from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and a consensus price target of $57.63.

Institutional Investors Weigh In On Wells Fargo & Company

A number of institutional investors and hedge funds have recently modified their holdings of WFC. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company in the 1st quarter worth approximately $28,000. Studio Investment Management LLC acquired a new stake in Wells Fargo & Company during the 4th quarter valued at $28,000. Worth Asset Management LLC acquired a new stake in Wells Fargo & Company during the 1st quarter valued at $40,000. Hollencrest Capital Management grew its holdings in Wells Fargo & Company by 107.3% during the 1st quarter. Hollencrest Capital Management now owns 1,357 shares of the financial services provider’s stock valued at $51,000 after buying an additional 20,000 shares during the last quarter. Finally, Resurgent Financial Advisors LLC acquired a new stake in Wells Fargo & Company during the 4th quarter valued at $51,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Company Profile

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.