Wells Fargo & Co (WFC) Expected to Post Quarterly Sales of $21.52 Billion

Equities research analysts expect that Wells Fargo & Co (NYSE:WFC) will report sales of $21.52 billion for the current quarter, Zacks reports. Four analysts have provided estimates for Wells Fargo & Co’s earnings, with estimates ranging from $21.15 billion to $21.68 billion. Wells Fargo & Co reported sales of $21.93 billion in the same quarter last year, which indicates a negative year over year growth rate of 1.9%. The business is expected to announce its next earnings results on Friday, October 12th.

On average, analysts expect that Wells Fargo & Co will report full year sales of $86.25 billion for the current year, with estimates ranging from $85.40 billion to $86.84 billion. For the next financial year, analysts forecast that the firm will report sales of $87.49 billion per share, with estimates ranging from $86.10 billion to $89.19 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Wells Fargo & Co.

Several research analysts have recently commented on the company. Zacks Investment Research upgraded Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Thursday, July 19th. Susquehanna Bancshares set a $63.00 price objective on Wells Fargo & Co and gave the stock a “hold” rating in a research report on Friday, July 13th. Keefe, Bruyette & Woods raised Wells Fargo & Co from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $57.00 to $63.00 in a research report on Sunday, July 15th. They noted that the move was a valuation call. Macquarie raised Wells Fargo & Co from an “underperform” rating to an “outperform” rating in a research report on Monday, April 30th. Finally, Morgan Stanley cut their price objective on Wells Fargo & Co from $60.00 to $57.00 and set an “underweight” rating for the company in a research report on Monday, April 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $63.34.

In other Wells Fargo & Co news, EVP Petros G. Pelos sold 25,567 shares of Wells Fargo & Co stock in a transaction dated Thursday, May 24th. The stock was sold at an average price of $54.76, for a total value of $1,400,048.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Hope A. Hardison sold 25,000 shares of Wells Fargo & Co stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $58.01, for a total value of $1,450,250.00. Following the completion of the transaction, the executive vice president now directly owns 109 shares of the company’s stock, valued at $6,323.09. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Coyle Financial Counsel LLC acquired a new position in Wells Fargo & Co in the 1st quarter valued at about $101,000. Delpha Capital Management LLC acquired a new position in Wells Fargo & Co in the 4th quarter valued at about $103,000. Stelac Advisory Services LLC acquired a new position in Wells Fargo & Co in the 4th quarter valued at about $109,000. Santori & Peters Inc. acquired a new position in shares of Wells Fargo & Co during the fourth quarter worth about $110,000. Finally, Landaas & Co. WI ADV acquired a new position in shares of Wells Fargo & Co during the second quarter worth about $117,000. 76.39% of the stock is owned by institutional investors.

NYSE WFC opened at $58.66 on Friday. Wells Fargo & Co has a 52 week low of $49.27 and a 52 week high of $66.31. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.86 and a current ratio of 0.88. The firm has a market cap of $283.15 billion, a PE ratio of 14.20, a P/E/G ratio of 1.57 and a beta of 1.13.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, September 1st. Investors of record on Friday, August 10th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.93%. This is an increase from Wells Fargo & Co’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, August 9th. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 41.85%.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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