$22.31 Billion in Sales Expected for Wells Fargo & Company (WFC) This Quarter

Equities research analysts expect Wells Fargo & Company (NYSE:WFC) to report sales of $22.31 billion for the current quarter, Zacks reports. Five analysts have issued estimates for Wells Fargo &’s earnings, with the highest sales estimate coming in at $22.54 billion and the lowest estimate coming in at $21.73 billion. Wells Fargo & posted sales of $22.33 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 0.1%. The business is scheduled to issue its next quarterly earnings results before the market opens on Friday, October 13th.

According to Zacks, analysts expect that Wells Fargo & will report full year sales of $22.31 billion for the current financial year, with estimates ranging from $88.14 billion to $90.27 billion. For the next year, analysts anticipate that the business will post sales of $91.87 billion per share, with estimates ranging from $90.35 billion to $94.89 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Wells Fargo &.

Wells Fargo & (NYSE:WFC) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.05. The company had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.23 billion. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 earnings per share.

Several equities research analysts have weighed in on WFC shares. Piper Jaffray Companies reiterated a “neutral” rating and issued a $50.00 price objective (down previously from $52.00) on shares of Wells Fargo & in a report on Wednesday. Vetr cut Wells Fargo & from a “buy” rating to a “sell” rating and set a $48.62 price objective for the company. in a report on Wednesday. UBS AG reiterated a “neutral” rating and issued a $56.00 price objective (down previously from $59.00) on shares of Wells Fargo & in a report on Friday. BidaskClub upgraded Wells Fargo & from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Finally, BMO Capital Markets upgraded Wells Fargo & from an “underperform” rating to a “market perform” rating and dropped their price objective for the stock from $50.00 to $47.00 in a report on Monday, July 31st. They noted that the move was a valuation call. Six analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Wells Fargo & presently has an average rating of “Hold” and a consensus price target of $55.85.

Wells Fargo & (NYSE:WFC) opened at 51.66 on Friday. The firm has a market capitalization of $256.44 billion, a price-to-earnings ratio of 12.72 and a beta of 0.96. The company has a 50 day moving average price of $51.92 and a 200-day moving average price of $54.04. Wells Fargo & has a 1-year low of $43.55 and a 1-year high of $59.99.

Wells Fargo & announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that permits the company to repurchase $11.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 4th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.02%. This is a boost from Wells Fargo &’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Wednesday, August 2nd. Wells Fargo &’s payout ratio is 38.42%.

Several hedge funds have recently modified their holdings of the company. Alexandria Capital LLC increased its holdings in shares of Wells Fargo & by 0.3% in the first quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 6 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Wells Fargo & by 0.3% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 6 shares during the last quarter. Winch Advisory Services LLC increased its holdings in shares of Wells Fargo & by 0.7% in the first quarter. Winch Advisory Services LLC now owns 2,756 shares of the financial services provider’s stock worth $153,000 after purchasing an additional 18 shares during the last quarter. Jackson Grant Investment Advisers Inc. increased its holdings in shares of Wells Fargo & by 0.5% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 4,928 shares of the financial services provider’s stock worth $274,000 after purchasing an additional 24 shares during the last quarter. Finally, Financial Advisory Group increased its holdings in shares of Wells Fargo & by 0.7% in the second quarter. Financial Advisory Group now owns 5,029 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 35 shares during the last quarter. 75.19% of the stock is currently owned by hedge funds and other institutional investors.

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Wells Fargo & Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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Earnings History and Estimates for Wells Fargo & (NYSE:WFC)

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