Wells Fargo & Co Expected to Post Q3 2018 Earnings of $1.17 Per Share (WFC)
Wells Fargo & Co (NYSE:WFC) – Research analysts at Oppenheimer boosted their Q3 2018 EPS estimates for Wells Fargo & Co in a note issued to investors on Wednesday, July 4th. Oppenheimer analyst C. Kotowski now forecasts that the financial services provider will post earnings per share of $1.17 for the quarter, up from their previous forecast of $1.16. Oppenheimer also issued estimates for Wells Fargo & Co’s FY2018 earnings at $4.55 EPS and FY2019 earnings at $5.17 EPS.
Wells Fargo & Co (NYSE:WFC) last posted its earnings results on Friday, April 13th. The financial services provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.05. The company had revenue of $21.93 billion for the quarter, compared to analyst estimates of $21.74 billion. Wells Fargo & Co had a net margin of 22.80% and a return on equity of 12.46%. Wells Fargo & Co’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.00 EPS.
Wells Fargo & Co opened at $55.89 on Monday, Marketbeat reports. The stock has a market capitalization of $272.62 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 1.51 and a beta of 1.14. Wells Fargo & Co has a 1-year low of $49.27 and a 1-year high of $66.31. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.27.
In other Wells Fargo & Co news, EVP Petros G. Pelos sold 25,567 shares of the stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $54.76, for a total value of $1,400,048.92. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.09% of the company’s stock.
Several large investors have recently made changes to their positions in WFC. Delpha Capital Management LLC acquired a new position in shares of Wells Fargo & Co in the 4th quarter valued at $103,000. Coyle Financial Counsel LLC acquired a new position in shares of Wells Fargo & Co in the 1st quarter valued at $101,000. Stelac Advisory Services LLC acquired a new position in shares of Wells Fargo & Co in the 4th quarter valued at $109,000. Santori & Peters Inc. acquired a new stake in Wells Fargo & Co during the 4th quarter worth $110,000. Finally, Delphi Private Advisors LLC boosted its stake in Wells Fargo & Co by 439.9% during the 4th quarter. Delphi Private Advisors LLC now owns 2,462 shares of the financial services provider’s stock worth $149,000 after purchasing an additional 2,006 shares during the period. 76.10% of the stock is currently owned by institutional investors.
Wells Fargo & Co Company Profile
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.
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