Wells Fargo & Co (NYSE:WFC) – Stock analysts at Jefferies Financial Group decreased their FY2018 earnings per share (EPS) estimates for shares of Wells Fargo & Co in a note issued to investors on Tuesday, January 8th. Jefferies Financial Group analyst K. Usdin now anticipates that the financial services provider will post earnings of $4.52 per share for the year, down from their prior forecast of $4.55. Jefferies Financial Group also issued estimates for Wells Fargo & Co’s Q4 2018 earnings at $1.19 EPS, Q1 2019 earnings at $1.05 EPS, Q3 2019 earnings at $1.26 EPS, Q4 2019 earnings at $1.35 EPS, FY2019 earnings at $4.85 EPS and FY2020 earnings at $5.55 EPS.
Wells Fargo & Co (NYSE:WFC) last posted its earnings results on Friday, October 12th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.04). Wells Fargo & Co had a net margin of 23.17% and a return on equity of 12.69%. The company had revenue of $21.94 billion during the quarter, compared to analysts’ expectations of $21.90 billion.
WFC stock opened at $47.87 on Friday. Wells Fargo & Co has a 1 year low of $43.02 and a 1 year high of $66.31. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market capitalization of $233.16 billion, a P/E ratio of 11.65, a P/E/G ratio of 0.84 and a beta of 1.10.
Wells Fargo & Co declared that its Board of Directors has authorized a share repurchase program on Tuesday, October 23rd that allows the company to buyback 350,000,000 outstanding shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
Several institutional investors have recently modified their holdings of WFC. Capital International Investors lifted its stake in shares of Wells Fargo & Co by 270.1% during the 3rd quarter. Capital International Investors now owns 89,775,252 shares of the financial services provider’s stock worth $4,718,587,000 after purchasing an additional 65,517,025 shares during the period. Primecap Management Co. CA lifted its stake in shares of Wells Fargo & Co by 47.1% during the 3rd quarter. Primecap Management Co. CA now owns 38,512,187 shares of the financial services provider’s stock worth $2,024,201,000 after purchasing an additional 12,337,098 shares during the period. Charles Schwab Investment Advisory Inc. purchased a new position in shares of Wells Fargo & Co during the 2nd quarter worth $321,220,000. OppenheimerFunds Inc. lifted its stake in shares of Wells Fargo & Co by 1,283.4% during the 3rd quarter. OppenheimerFunds Inc. now owns 3,087,235 shares of the financial services provider’s stock worth $162,264,000 after purchasing an additional 2,864,065 shares during the period. Finally, Royal London Asset Management Ltd. purchased a new position in shares of Wells Fargo & Co during the 2nd quarter worth $118,780,000. 72.97% of the stock is currently owned by institutional investors.
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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