Wells Fargo & Company (NYSE:WFC) issued its earnings results on Friday. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10, Briefing.com reports. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year.
Wells Fargo & Company Trading Down 0.4 %
WFC stock opened at $56.47 on Monday. Wells Fargo & Company has a 1-year low of $36.40 and a 1-year high of $58.44. The firm has a market cap of $199.93 billion, a P/E ratio of 11.79, a P/E/G ratio of 1.18 and a beta of 1.19. The business’s 50 day moving average is $54.92 and its 200-day moving average is $48.32. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14.
Wells Fargo & Company Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $1.40 annualized dividend and a yield of 2.48%. Wells Fargo & Company’s dividend payout ratio is 29.23%.
Wall Street Analysts Forecast Growth
Check Out Our Latest Report on Wells Fargo & Company
Institutional Investors Weigh In On Wells Fargo & Company
Several large investors have recently modified their holdings of WFC. Kathmere Capital Management LLC grew its position in Wells Fargo & Company by 19.5% during the 3rd quarter. Kathmere Capital Management LLC now owns 7,248 shares of the financial services provider’s stock worth $296,000 after acquiring an additional 1,185 shares during the last quarter. Stoneridge Investment Partners LLC lifted its holdings in Wells Fargo & Company by 410.5% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock worth $2,757,000 after buying an additional 54,262 shares in the last quarter. United Services Automobile Association lifted its holdings in Wells Fargo & Company by 13.7% during the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock worth $4,000,000 after buying an additional 11,825 shares in the last quarter. Synovus Financial Corp lifted its holdings in Wells Fargo & Company by 61.7% during the 3rd quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock worth $4,983,000 after buying an additional 46,525 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Wells Fargo & Company during the 3rd quarter worth $5,143,000. 75.90% of the stock is currently owned by institutional investors.
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.
Featured Stories
- Five stocks we like better than Wells Fargo & Company
- Investing in Commodities: What Are They? How to Invest in Them
- Novo Nordisk Arms Wegovy to Be a Triple Threat
- Are Penny Stocks a Good Fit for Your Portfolio?
- Blackrock vs. State Street: Earnings in a Volatile Market
- Investing in the High PE Growth Stocks
- TKO Group Knocks Out WrestleMania Event Record
Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.