Oppenheimer Weighs in on Wells Fargo & Co’s FY2017 Earnings (WFC)

Wells Fargo & Co (NYSE:WFC) – Research analysts at Oppenheimer boosted their FY2017 earnings per share (EPS) estimates for Wells Fargo & Co in a report issued on Tuesday. Oppenheimer analyst C. Kotowski now anticipates that the financial services provider will post earnings per share of $3.98 for the year, up from their previous estimate of $3.89. Oppenheimer also issued estimates for Wells Fargo & Co’s Q4 2017 earnings at $1.08 EPS and FY2018 earnings at $4.91 EPS.

A number of other research analysts also recently commented on WFC. BMO Capital Markets reissued a “hold” rating and issued a $59.00 price objective on shares of Wells Fargo & Co in a research report on Thursday. Sanford C. Bernstein raised shares of Wells Fargo & Co from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $64.00 to $69.00 in a research report on Wednesday. Vetr downgraded shares of Wells Fargo & Co from a “hold” rating to a “sell” rating and set a $53.07 price objective for the company. in a research report on Monday, October 2nd. Barclays lifted their price objective on shares of Wells Fargo & Co from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Instinet reissued a “buy” rating and issued a $65.00 price objective (up previously from $64.00) on shares of Wells Fargo & Co in a research report on Saturday, September 30th. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $58.87.

Wells Fargo & Co (NYSE WFC) opened at $62.33 on Friday. Wells Fargo & Co has a 12-month low of $49.27 and a 12-month high of $63.05. The company has a market cap of $307,150.00, a PE ratio of 16.11, a PEG ratio of 1.72 and a beta of 0.96. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89.

Wells Fargo & Co (NYSE:WFC) last released its earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). Wells Fargo & Co had a net margin of 22.00% and a return on equity of 12.59%. The business had revenue of $21.93 billion during the quarter, compared to the consensus estimate of $22.30 billion. During the same period last year, the business posted $1.03 EPS. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis.

Several large investors have recently modified their holdings of WFC. Artisan Partners Limited Partnership grew its holdings in shares of Wells Fargo & Co by 6.1% during the 1st quarter. Artisan Partners Limited Partnership now owns 1,237,557 shares of the financial services provider’s stock valued at $68,882,000 after purchasing an additional 71,330 shares during the last quarter. Alley Co LLC grew its holdings in shares of Wells Fargo & Co by 63.8% during the 1st quarter. Alley Co LLC now owns 96,424 shares of the financial services provider’s stock valued at $5,367,000 after purchasing an additional 37,546 shares during the last quarter. Argent Capital Management LLC grew its holdings in shares of Wells Fargo & Co by 40.2% during the 1st quarter. Argent Capital Management LLC now owns 418,696 shares of the financial services provider’s stock valued at $23,305,000 after purchasing an additional 120,093 shares during the last quarter. Investec Asset Management LTD grew its holdings in shares of Wells Fargo & Co by 12.4% during the 1st quarter. Investec Asset Management LTD now owns 92,438 shares of the financial services provider’s stock valued at $5,145,000 after purchasing an additional 10,222 shares during the last quarter. Finally, SRS Capital Advisors Inc. grew its holdings in shares of Wells Fargo & Co by 0.5% during the 1st quarter. SRS Capital Advisors Inc. now owns 43,631 shares of the financial services provider’s stock valued at $2,428,000 after purchasing an additional 215 shares during the last quarter. Institutional investors own 75.70% of the company’s stock.

In other Wells Fargo & Co news, insider Michael J. Loughlin sold 17,482 shares of Wells Fargo & Co stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $57.80, for a total value of $1,010,459.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John R. Shrewsberry sold 70,000 shares of Wells Fargo & Co stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.90, for a total transaction of $3,983,000.00. The disclosure for this sale can be found here. Insiders sold a total of 184,482 shares of company stock valued at $10,471,050 in the last quarter. Corporate insiders own 0.22% of the company’s stock.

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Wells Fargo & Co 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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