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

Wells Fargo & Company (NYSE:WFC) – Seaport Res Ptn cut their Q4 2024 earnings per share estimates for Wells Fargo & Company in a research note issued to investors on Thursday, October 3rd. Seaport Res Ptn analyst J. Mitchell now anticipates that the financial services provider will post earnings per share of $1.31 for the quarter, down from their prior forecast of $1.32. The consensus estimate for Wells Fargo & Company’s current full-year earnings is $5.14 per share. Seaport Res Ptn also issued estimates for Wells Fargo & Company’s Q1 2025 earnings at $1.19 EPS, Q3 2025 earnings at $1.42 EPS, Q4 2025 earnings at $1.46 EPS and FY2025 earnings at $5.50 EPS.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The business had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. During the same period in the prior year, the firm posted $1.25 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis.

A number of other equities analysts also recently issued reports on the company. Evercore ISI upped their price target on Wells Fargo & Company from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Tuesday, September 3rd. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and dropped their price target for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. The Goldman Sachs Group decreased their price objective on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Twelve investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $60.41.

Wells Fargo & Company Trading Up 3.6 %

NYSE:WFC opened at $56.96 on Friday. The stock has a market capitalization of $198.58 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.32 and a beta of 1.16. Wells Fargo & Company has a 52 week low of $38.58 and a 52 week high of $62.55. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The firm has a 50 day moving average of $55.36 and a 200 day moving average of $57.76.

Institutional Trading of Wells Fargo & Company

Hedge funds have recently added to or reduced their stakes in the company. John W. Brooker & Co. CPAs boosted its stake in shares of Wells Fargo & Company by 2.5% during the 2nd quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock worth $420,000 after acquiring an additional 171 shares in the last quarter. McAdam LLC boosted its position in Wells Fargo & Company by 3.3% during the second quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock worth $333,000 after purchasing an additional 178 shares in the last quarter. Eclectic Associates Inc. ADV grew its holdings in Wells Fargo & Company by 1.2% in the third quarter. Eclectic Associates Inc. ADV now owns 15,452 shares of the financial services provider’s stock valued at $873,000 after purchasing an additional 178 shares during the period. Prentice Wealth Management LLC increased its position in shares of Wells Fargo & Company by 2.0% in the second quarter. Prentice Wealth Management LLC now owns 9,426 shares of the financial services provider’s stock valued at $560,000 after buying an additional 184 shares in the last quarter. Finally, Clearstead Trust LLC raised its stake in shares of Wells Fargo & Company by 13.0% during the 1st quarter. Clearstead Trust LLC now owns 1,617 shares of the financial services provider’s stock worth $94,000 after buying an additional 186 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.81%. The ex-dividend date was Friday, August 9th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio is currently 32.85%.

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.