Jefferies Group Analysts Increase Earnings Estimates for Wells Fargo & Company

13 October, 2017, 04:43 | Author: Regina Silva
  • Bank P  E Multiple Comparison Chart

Motco reported 0% in Wells Fargo & Co (NYSE:WFC). However, the company has an impressive earnings surprise history. It has outperformed by 26.23% the S&P500.The move comes after 6 months positive chart setup for the $460.22M company. Wells Fargo plans $4 billion of cost cuts by 2019. Further, rising rates are easing margin pressure to an extent. Wells Fargo & Company recently announced a dividend that was paid on Friday the 1st of September 2017. Sandler O'Neill upgraded the stock to "Buy" rating in Wednesday, September 2 report. Vetr upgraded Wells Fargo & to a "strong-buy" rating in a research report on Thursday, September 7th. (NYSE:JPM). At the time of writing, the First Call consensus price target for the company is $96.00. Guggenheim upgraded Wells Fargo & Co (NYSE:WFC) on Wednesday, July 29 to "Buy" rating. The rating was maintained by Keefe Bruyette & Woods on Friday, August 25 with "Buy".

Among 32 analysts covering Wells Fargo & Company (NYSE:WFC), 13 have Buy rating, 5 Sell and 14 Hold. The stock now has an average rating of "Hold" and a consensus target price of $57.19.

Shares of Wells Fargo & (NYSE WFC) traded down 0.81% during midday trading on Wednesday, hitting $55.21. The firm's 50-day moving average price is $52.89 and its 200-day moving average price is $53.57.

More notable recent Wells Fargo & Co (NYSE:WFC) news were published by: Bloomberg.com which released: "Wells Fargo Directors Can't Duck Claims Over Fake Accounts" on October 05, 2017, also Reuters.com with their article: "Wells Fargo's lone outsider aims to clean up bank's reputation" published on September 20, 2017, Reuters.com published: "Wells Fargo names Mike Roemer chief compliance officer" on October 12, 2017.

Beta is also an important valuation ratio for analyzing the stock of the company, WFC's beta remains at 0.95.

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Wells Fargo & Company (WFC) reported earning per shares for the quarter ending Oct 13 BMO at 1.07, whereas, 28 number of analysts estimated the mean EPS at 1.05. The hedge fund run by Carl Tiedemann held 1.09 million shares of the farming and seeds and milling company at the end of 2017Q2, valued at $70.69M, up from 933,238 at the end of the previous reported quarter. $499,108 worth of Wells Fargo & Co (NYSE:WFC) was bought by SARGENT RONALD. The firm had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $22.23 billion.

EPS Estimate for the next Quarter is 1.03. The company's quarterly revenue was up.2% on a year-over-year basis. This buyback authorization permits the financial services provider to purchase up to 4.2% of its shares through open market purchases.

Tig Advisors Llc, which manages about $3.62 billion and $1.68 billion US Long portfolio, decreased its stake in Spdr S&P 500 Etf Tr (Put) (SPY) by 101,000 shares to 441,300 shares, valued at $106.71 million in 2017Q2, according to the filing. Wells Fargo & Co (NYSE:WFC) has risen 9.67% since October 12, 2016 and is uptrending. If you are accessing this article on another website, it was illegally copied and republished in violation of United States and global trademark and copyright law. As per Friday, April 7, the company rating was maintained by Aegis Capital. WFC's profit will be $5.22 billion for 13.28 P/E if the $1.05 EPS becomes a reality. The dividend was $0.390 per share for the quarter or $1.56 annualized. Addenda Capital Inc. claims 162,301 shares worth $8,806,000. The stock's quarterly performance indicates a positive momentum of 0.11 percent, whereas its last one month trend is optimistic with 7.93 percent. Its investment was worth $14,842,000 an increase of $340,000 as of quarter end. Stelac Advisory Services LLC purchased a new position in Wells Fargo & during the 2nd quarter valued at about $104,000.

Barclays' chief compliance officer Michael Roemer is leaving to take up the same role at USA bank Wells Fargo, the two banks said on Thursday. The Firm offers a range of financial services through its subsidiary, The Bank of SC. It has three operating divisions: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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