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

Wells Fargo & Company (NYSE:WFC) – Equities research analysts at Seaport Res Ptn cut their Q4 2024 earnings per share estimates for shares of Wells Fargo & Company in a report released 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 prior forecast of $1.48. The consensus estimate for Wells Fargo & Company’s current full-year earnings is $4.86 per share. Seaport Res Ptn also issued estimates for Wells Fargo & Company’s Q3 2025 earnings at $1.50 EPS.

WFC has been the subject of a number of other reports. The Goldman Sachs Group increased their price objective on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $62.00 price target (up from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Barclays increased their price objective on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Evercore ISI lifted their price target on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Finally, HSBC upped their price objective on Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, March 28th. Thirteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $58.85.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $57.18 on Tuesday. The firm’s 50 day moving average is $55.42 and its two-hundred day moving average is $48.61. The firm has a market capitalization of $202.44 billion, a P/E ratio of 11.94, a PEG ratio of 1.15 and a beta of 1.19. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a 52 week low of $36.40 and a 52 week high of $58.44.

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

Wells Fargo & Company Announces Dividend

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 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio is 29.23%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $2,623,044,000. Moneta Group Investment Advisors LLC increased its position in Wells Fargo & Company by 129,312.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock worth $1,085,410,000 after purchasing an additional 26,267,166 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Wells Fargo & Company by 1,478.6% during the 1st quarter. Renaissance Technologies LLC now owns 8,390,611 shares of the financial services provider’s stock worth $406,609,000 after purchasing an additional 7,859,100 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in shares of Wells Fargo & Company during the 1st quarter valued at about $345,861,000. Finally, Legal & General Group Plc increased its holdings in Wells Fargo & Company by 31.3% in the fourth quarter. Legal & General Group Plc now owns 25,640,835 shares of the financial services provider’s stock worth $1,262,043,000 after buying an additional 6,118,817 shares during the last quarter. Hedge funds and other institutional investors 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.