Wells Fargo & Company (NYSE:WFC) announced its quarterly earnings results on Friday. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10, Briefing.com reports. The company had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm earned $1.23 EPS.
Wells Fargo & Company Stock Down 0.4 %
NYSE WFC opened at $56.47 on Friday. The business has a fifty day moving average price of $54.92 and a 200 day moving average price of $48.27. Wells Fargo & Company has a one year low of $36.40 and a one 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. The company has a market cap of $199.93 billion, a P/E ratio of 11.79, a P/E/G ratio of 1.18 and a beta of 1.19.
Wells Fargo & Company Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.48%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.
Analyst Upgrades and Downgrades
Get Our Latest Stock Analysis on Wells Fargo & Company
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Core Wealth Advisors Inc. acquired a new position in Wells Fargo & Company in the 4th quarter valued at $25,000. Arlington Trust Co LLC acquired a new position in Wells Fargo & Company in the 4th quarter valued at $25,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of Wells Fargo & Company in the 4th quarter worth $29,000. Fortis Group Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter worth $25,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter worth $32,000. 75.90% of the stock is owned by institutional investors and hedge funds.
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.
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