Jefferies Financial Group Comments on Wells Fargo & Co’s Q4 2018 Earnings (WFC)

Wells Fargo & Co (NYSE:WFC) – Equities researchers at Jefferies Financial Group reduced their Q4 2018 EPS estimates for Wells Fargo & Co in a research report issued on Monday, October 15th. Jefferies Financial Group analyst K. Usdin now expects that the financial services provider will post earnings of $1.22 per share for the quarter, down from their prior forecast of $1.26. Jefferies Financial Group also issued estimates for Wells Fargo & Co’s FY2019 earnings at $5.25 EPS.

A number of other equities research analysts have also recently weighed in on the company. Edward Jones upgraded Wells Fargo & Co from a “hold” rating to a “buy” rating in a research note on Monday, September 17th. Macquarie decreased their price objective on Wells Fargo & Co from $63.00 to $62.00 and set a “neutral” rating for the company in a research note on Monday, September 17th. UBS Group set a $63.00 price objective on Wells Fargo & Co and gave the stock a “buy” rating in a research note on Friday, September 28th. Zacks Investment Research cut Wells Fargo & Co from a “hold” rating to a “sell” rating in a research note on Tuesday, September 18th. Finally, Wolfe Research initiated coverage on Wells Fargo & Co in a research note on Tuesday, September 25th. They set an “outperform” rating for the company. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $63.79.

Shares of NYSE WFC opened at $53.73 on Wednesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.88 and a quick ratio of 0.86. The firm has a market cap of $256.37 billion, a P/E ratio of 13.07, a P/E/G ratio of 1.43 and a beta of 1.15. Wells Fargo & Co has a 1-year low of $50.26 and a 1-year high of $66.31.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, October 12th. The financial services provider reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.04). The company had revenue of $21.94 billion for the quarter, compared to analysts’ expectations of $21.90 billion. Wells Fargo & Co had a return on equity of 12.38% and a net margin of 22.03%.

Several hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in shares of Wells Fargo & Co by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 43,088,636 shares of the financial services provider’s stock valued at $2,388,296,000 after purchasing an additional 1,874,789 shares during the period. Magellan Asset Management Ltd increased its holdings in shares of Wells Fargo & Co by 0.3% in the second quarter. Magellan Asset Management Ltd now owns 31,103,695 shares of the financial services provider’s stock valued at $1,724,389,000 after purchasing an additional 78,797 shares during the period. Boston Partners increased its holdings in shares of Wells Fargo & Co by 12.6% in the second quarter. Boston Partners now owns 21,223,020 shares of the financial services provider’s stock valued at $1,176,604,000 after purchasing an additional 2,372,583 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Wells Fargo & Co by 2.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 16,910,637 shares of the financial services provider’s stock valued at $937,526,000 after purchasing an additional 372,355 shares during the period. Finally, Sanders Capital LLC acquired a new position in shares of Wells Fargo & Co in the second quarter valued at about $952,809,000. 77.57% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Avid Modjtabai sold 100,000 shares of the stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $58.71, for a total value of $5,871,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Hope A. Hardison sold 25,000 shares of the 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 in the company, valued at $6,323.09. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

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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