Wells Fargo & Co. (NYSE:WFC) – Research analysts at Jefferies Group increased their Q4 2016 earnings estimates for shares of Wells Fargo & Co. in a report released on Tuesday. Jefferies Group analyst K. Usdin now anticipates that the brokerage will post earnings per share of $1.04 for the quarter, up from their previous forecast of $0.99. Jefferies Group has a “Buy” rating and a $53.00 price objective on the stock. Jefferies Group also issued estimates for Wells Fargo & Co.’s Q1 2017 earnings at $0.95 EPS, Q2 2017 earnings at $1.06 EPS, Q3 2017 earnings at $1.09 EPS and Q4 2017 earnings at $1.05 EPS.

Wells Fargo & Co. (NYSE:WFC) last issued its quarterly earnings results on Friday, October 14th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.02. Wells Fargo & Co. had a return on equity of 12.95% and a net margin of 24.33%. The company had revenue of $22.30 billion for the quarter, compared to analysts’ expectations of $22.22 billion. During the same period last year, the firm earned $1.05 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis.

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

Other equities analysts have also issued reports about the company. Deutsche Bank AG restated a “buy” rating on shares of Wells Fargo & Co. in a research note on Sunday, June 26th. Nomura restated a “buy” rating on shares of Wells Fargo & Co. in a research note on Saturday, July 9th. Barclays PLC reaffirmed a “buy” rating on shares of Wells Fargo & Co. in a report on Saturday, July 9th. Drexel Hamilton reaffirmed a “buy” rating on shares of Wells Fargo & Co. in a report on Monday, July 18th. Finally, RBC Capital Markets reaffirmed a “buy” rating and set a $54.00 price objective (down from $57.00) on shares of Wells Fargo & Co. in a report on Tuesday, July 19th. Seven equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $50.35.

Wells Fargo & Co. (NYSE:WFC) opened at 44.71 on Thursday. Wells Fargo & Co. has a 12 month low of $43.55 and a 12 month high of $56.34. The firm has a market capitalization of $225.59 billion, a PE ratio of 11.04 and a beta of 0.91. The stock’s 50 day moving average price is $46.72 and its 200 day moving average price is $48.06.

In related news, COO Timothy J. Sloan sold 20,500 shares of the firm’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $48.92, for a total value of $1,002,860.00. Following the completion of the sale, the chief operating officer now directly owns 650,815 shares in the company, valued at approximately $31,837,869.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CIBC World Markets Inc. boosted its position in Wells Fargo & Co. by 13.6% in the second quarter. CIBC World Markets Inc. now owns 784,944 shares of the financial services provider’s stock valued at $37,151,000 after buying an additional 93,961 shares in the last quarter. Svenska Handelsbanken AB publ bought a new position in Wells Fargo & Co. during the second quarter valued at $15,118,000. Exxonmobil Investment Management Inc. TX boosted its position in Wells Fargo & Co. by 6.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 1,195,917 shares of the financial services provider’s stock valued at $56,603,000 after buying an additional 71,107 shares in the last quarter. Lazard Asset Management LLC boosted its position in Wells Fargo & Co. by 10.3% in the first quarter. Lazard Asset Management LLC now owns 6,564,216 shares of the financial services provider’s stock valued at $317,445,000 after buying an additional 611,374 shares in the last quarter. Finally, Aviva PLC boosted its position in Wells Fargo & Co. by 0.7% in the first quarter. Aviva PLC now owns 3,065,051 shares of the financial services provider’s stock valued at $148,226,000 after buying an additional 22,620 shares in the last quarter. 73.98% of the stock is currently owned by hedge funds and other 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

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