Wells Fargo & Co. (NYSE:WFC) – Analysts at Oppenheimer Holdings decreased their Q3 2016 earnings per share estimates for shares of Wells Fargo & Co. in a report issued on Monday. Oppenheimer Holdings analyst C. Kotowski now expects that the brokerage will post earnings of $1.02 per share for the quarter, down from their prior forecast of $1.05. Oppenheimer Holdings has a “Market Perform” rating on the stock. Oppenheimer Holdings also issued estimates for Wells Fargo & Co.’s Q4 2016 earnings at $1.02 EPS, FY2016 earnings at $4.04 EPS and FY2017 earnings at $4.22 EPS.

A number of other research firms have also commented on WFC. Atlantic Securities lowered shares of Wells Fargo & Co. from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $46.15 to $44.00 in a research note on Friday, September 16th. Rafferty Capital Markets lowered shares of Wells Fargo & Co. from a “hold” rating to a “sell” rating and set a $44.00 price objective for the company. in a research note on Friday, September 9th. Zacks Investment Research raised shares of Wells Fargo & Co. from a “sell” rating to a “hold” rating in a research note on Monday, July 4th. Sandler O’Neill reaffirmed a “hold” rating on shares of Wells Fargo & Co. in a research note on Friday, September 30th. Finally, Raymond James Financial Inc. lowered shares of Wells Fargo & Co. from a “market perform” rating to an “underperform” rating in a research note on Tuesday. Seven analysts have rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the stock. Wells Fargo & Co. presently has an average rating of “Hold” and a consensus price target of $50.41.

Earnings History and Estimates for Wells Fargo & Co. (NYSE:WFC)

Shares of Wells Fargo & Co. (NYSE:WFC) opened at 45.18 on Wednesday. The firm has a market capitalization of $227.96 billion, a P/E ratio of 11.16 and a beta of 0.91. The company has a 50-day moving average price of $47.29 and a 200 day moving average price of $48.24. Wells Fargo & Co. has a one year low of $43.55 and a one year high of $56.34.

Wells Fargo & Co. (NYSE:WFC) last announced its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.01. Wells Fargo & Co. had a return on equity of 12.95% and a net margin of 24.33%. The firm earned $22.20 billion during the quarter. During the same quarter in the prior year, the company posted $1.03 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis.

In other news, COO Timothy J. Sloan sold 20,500 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $48.92, for a total transaction of $1,002,860.00. Following the transaction, the chief operating officer now owns 650,815 shares in the company, valued at approximately $31,837,869.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Parnassus Investments CA increased its position in Wells Fargo & Co. by 879.2% in the second quarter. Parnassus Investments CA now owns 12,240,229 shares of the financial services provider’s stock valued at $579,330,000 after buying an additional 10,990,229 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Wells Fargo & Co. by 2.2% in the second quarter. Vanguard Group Inc. now owns 288,028,042 shares of the financial services provider’s stock valued at $13,632,368,000 after buying an additional 6,247,583 shares during the period. Ruane Cunniff & Goldfarb Inc. raised its stake in shares of Wells Fargo & Co. by 5,580.0% in the second quarter. Ruane Cunniff & Goldfarb Inc. now owns 5,242,602 shares of the financial services provider’s stock valued at $248,132,000 after buying an additional 5,150,302 shares during the period. BlackRock Fund Advisors raised its stake in shares of Wells Fargo & Co. by 8.8% in the first quarter. BlackRock Fund Advisors now owns 57,985,130 shares of the financial services provider’s stock valued at $2,804,161,000 after buying an additional 4,695,036 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Wells Fargo & Co. by 2.7% in the first quarter. Wellington Management Group LLP now owns 131,270,916 shares of the financial services provider’s stock valued at $6,348,262,000 after buying an additional 3,450,553 shares during the period. Institutional investors own 73.98% of the company’s stock.

About Wells Fargo & Co.

Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

5 Day Chart for NYSE:WFC

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