Brokers Set Expectations for Wells Fargo & Company’s Q4 2024 Earnings (NYSE:WFC)

Wells Fargo & Company (NYSE:WFC) – Equities researchers at Seaport Res Ptn decreased their Q4 2024 earnings per share (EPS) estimates for shares of Wells Fargo & Company in a note issued to investors on Sunday, April 14th. Seaport Res Ptn analyst J. Mitchell now anticipates that the financial services provider will earn $1.40 per share for the quarter, down from their previous estimate of $1.48. The consensus estimate for Wells Fargo & Company’s current full-year earnings is $4.68 per share. Seaport Res Ptn also issued estimates for Wells Fargo & Company’s Q3 2025 earnings at $1.50 EPS.

Several other research analysts also recently commented on the company. Barclays boosted their target price on Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $62.00 target price (up from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a report on Monday. Robert W. Baird reaffirmed a “neutral” rating and set a $55.00 price objective on shares of Wells Fargo & Company in a report on Monday, January 8th. Finally, Raymond James upped their price objective on Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 16th. Thirteen equities 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $58.85.

Wells Fargo & Company Stock Up 0.9 %

Shares of WFC opened at $56.97 on Tuesday. The company has a market capitalization of $201.70 billion, a P/E ratio of 11.89, a PEG ratio of 1.18 and a beta of 1.19. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. Wells Fargo & Company has a one year low of $36.40 and a one year high of $58.44. The business’s 50 day simple moving average is $55.08 and its 200-day simple moving average is $48.44.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.23 EPS.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Fortis Group Advisors LLC bought a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at $25,000. Arlington Trust Co LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $25,000. Core Wealth Advisors Inc. bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $25,000. Leith Wheeler Investment Counsel Ltd. increased its position in shares of Wells Fargo & Company by 208.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after buying an additional 356,620 shares in the last quarter. Finally, Studio Investment Management LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.23%.

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.