What is Seaport Res Ptn’s Estimate for WFC FY2024 Earnings?

Wells Fargo & Company (NYSE:WFC) – Analysts at Seaport Res Ptn lifted their FY2024 earnings per share (EPS) estimates for shares of Wells Fargo & Company in a research report issued to clients and investors on Tuesday, January 7th. Seaport Res Ptn analyst J. Mitchell now anticipates that the financial services provider will post earnings of $5.43 per share for the year, up from their prior forecast of $5.40. The consensus estimate for Wells Fargo & Company’s current full-year earnings is $5.43 per share. Seaport Res Ptn also issued estimates for Wells Fargo & Company’s Q3 2025 earnings at $1.50 EPS, Q4 2025 earnings at $1.50 EPS and FY2026 earnings at $6.60 EPS.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. During the same period in the previous year, the company posted $1.39 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year.

WFC has been the subject of several other reports. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their target price for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Barclays upped their price objective on Wells Fargo & Company from $75.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Citigroup upped their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Finally, Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a report on Tuesday, October 8th. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.92.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $71.55 on Friday. Wells Fargo & Company has a 1-year low of $46.12 and a 1-year high of $78.13. The business has a fifty day moving average price of $72.02 and a 200-day moving average price of $62.82. The company has a market capitalization of $238.23 billion, a PE ratio of 14.88, a PEG ratio of 1.47 and a beta of 1.18. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 33.26%.

Insider Activity

In related news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the completion of the transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This represents a 26.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $61.99, for a total value of $2,169,650.00. Following the completion of the sale, the executive vice president now owns 126,687 shares of the company’s stock, valued at $7,853,327.13. The trade was a 21.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Investors Research Corp grew its holdings in Wells Fargo & Company by 1.2% during the 3rd quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock valued at $760,000 after buying an additional 160 shares in the last quarter. Ellenbecker Investment Group boosted its position in shares of Wells Fargo & Company by 3.9% during the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 164 shares during the last quarter. Income Research & Management purchased a new position in Wells Fargo & Company during the third quarter valued at $211,000. Modera Wealth Management LLC increased its holdings in Wells Fargo & Company by 0.9% in the 3rd quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock valued at $1,018,000 after acquiring an additional 167 shares during the last quarter. Finally, Catalina Capital Group LLC lifted its stake in Wells Fargo & Company by 1.7% in the 3rd quarter. Catalina Capital Group LLC now owns 9,886 shares of the financial services provider’s stock worth $558,000 after purchasing an additional 168 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.