Seaport Res Ptn Comments on Wells Fargo & Company’s Q4 2024 Earnings (NYSE:WFC)

Wells Fargo & Company (NYSE:WFC) – Investment analysts at Seaport Res Ptn cut their Q4 2024 earnings per share estimates for Wells Fargo & Company in a research report issued on Saturday, October 12th. Seaport Res Ptn analyst J. Mitchell now expects that the financial services provider will post earnings of $1.30 per share for the quarter, down from their previous estimate of $1.31. The consensus estimate for Wells Fargo & Company’s current full-year earnings is $5.12 per share. Seaport Res Ptn also issued estimates for Wells Fargo & Company’s Q1 2025 earnings at $1.18 EPS.

Several other equities analysts have also recently issued reports on WFC. BMO Capital Markets upped their price target on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Morgan Stanley lowered their target price on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price target for the company from $60.83 to $65.00 in a research note on Tuesday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday. Finally, Evercore ISI raised their price target on shares of Wells Fargo & Company from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Monday. Thirteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and a consensus target price of $61.82.

Wells Fargo & Company Stock Up 1.4 %

Shares of WFC opened at $63.04 on Tuesday. Wells Fargo & Company has a 52 week low of $38.58 and a 52 week high of $63.82. The stock has a market capitalization of $219.78 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.46 and a beta of 1.16. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a fifty day moving average of $55.81 and a 200-day moving average of $57.86.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The business had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same period in the prior year, the company earned $1.39 EPS. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year.

Institutional Trading of Wells Fargo & Company

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in Wells Fargo & Company by 4.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock worth $1,178,591,000 after purchasing an additional 831,975 shares in the last quarter. 1832 Asset Management L.P. boosted its position in shares of Wells Fargo & Company by 67.1% in the first quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock valued at $339,226,000 after acquiring an additional 2,349,595 shares during the period. First Pacific Advisors LP grew its stake in Wells Fargo & Company by 2.1% during the second quarter. First Pacific Advisors LP now owns 5,278,666 shares of the financial services provider’s stock valued at $313,500,000 after acquiring an additional 108,480 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in Wells Fargo & Company by 38.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock worth $297,411,000 after acquiring an additional 1,415,647 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in Wells Fargo & Company by 1.0% in the 1st quarter. Russell Investments Group Ltd. now owns 4,662,953 shares of the financial services provider’s stock worth $270,035,000 after purchasing an additional 48,419 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Insider Buying and Selling

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the sale, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $7,853,327.13. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is currently owned by insiders.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were paid a dividend of $0.40 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.54%. Wells Fargo & Company’s dividend payout ratio is presently 32.85%.

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.