Wells Fargo & Co. (NYSE:WFC) – Equities research analysts at Jefferies Group raised their Q3 2016 earnings per share estimates for shares of Wells Fargo & Co. in a research note issued on Friday. Jefferies Group analyst K. Usdin now forecasts that the firm will post earnings per share of $1.06 for the quarter, up from their prior forecast of $1.01. Jefferies Group currently has a “Buy” rating and a $53.00 target price on the stock. Jefferies Group also issued estimates for Wells Fargo & Co.’s FY2018 earnings at $4.35 EPS.

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

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

Several other equities research analysts have also weighed in on WFC. Nomura reaffirmed a “buy” rating on shares of Wells Fargo & Co. in a report on Saturday, July 9th. Barclays PLC reaffirmed a “buy” rating on shares of Wells Fargo & Co. in a report on Saturday, July 9th. Deutsche Bank AG reissued a “buy” rating on shares of Wells Fargo & Co. in a report on Sunday, June 26th. Zacks Investment Research lowered shares of Wells Fargo & Co. from a “hold” rating to a “sell” rating in a report on Wednesday, June 15th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Wells Fargo & Co. in a report on Monday, July 18th. Seven research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $50.41.

Wells Fargo & Co. (NYSE:WFC) opened at 45.65 on Monday. The stock has a 50 day moving average of $47.11 and a 200 day moving average of $48.15. The stock has a market capitalization of $230.33 billion, a P/E ratio of 11.27 and a beta of 0.91. Wells Fargo & Co. has a 52-week low of $43.55 and a 52-week high of $56.34.

In other news, COO Timothy J. Sloan sold 20,500 shares of Wells Fargo & Co. stock in a transaction on Monday, August 8th. The stock was sold at an average price of $48.92, for a total transaction of $1,002,860.00. Following the completion of the sale, the chief operating officer now owns 650,815 shares of the company’s stock, valued at $31,837,869.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Parnassus Investments CA increased its stake 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 worth $579,330,000 after buying an additional 10,990,229 shares in the last quarter. Vanguard Group Inc. increased its stake in 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 worth $13,632,368,000 after buying an additional 6,247,583 shares in the last quarter. Ruane Cunniff & Goldfarb Inc. increased its stake in 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 worth $248,132,000 after buying an additional 5,150,302 shares in the last quarter. BlackRock Fund Advisors increased its stake in 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 worth $2,804,161,000 after buying an additional 4,695,036 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in 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 worth $6,348,262,000 after buying an additional 3,450,553 shares in the last quarter. 73.98% of the stock is owned by institutional investors.

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

Receive News & Stock Ratings for Wells Fargo & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co. and related stocks with our FREE daily email newsletter.