Wells Fargo & Company (NYSE:WFC) Issues Earnings Results

Wells Fargo & Company (NYSE:WFC) announced its quarterly earnings data on Wednesday. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09, Briefing.com reports. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 earnings per share.

Wells Fargo & Company Trading Up 6.6 %

Wells Fargo & Company stock opened at $75.86 on Thursday. Wells Fargo & Company has a 12-month low of $46.12 and a 12-month high of $78.13. The firm has a market capitalization of $252.58 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 1.39 and a beta of 1.18. The firm has a 50 day moving average of $72.41 and a 200 day moving average of $63.15. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. Wells Fargo & Company’s payout ratio is currently 33.26%.

Analysts Set New Price Targets

Several research analysts recently issued reports on WFC shares. Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday, October 14th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their target price for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Evercore ISI boosted their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. UBS Group raised their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Citigroup lifted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average target price of $69.92.

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.