Atlantic Securities raised shares of Wells Fargo & Co from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $28.00 to $30.00 in a research report on Wednesday, July 22nd. Wells Fargo & Co’s dividend payout ratio is currently 46.58%. 72.93% of the stock is owned by institutional investors.Q1 2021 EPS Estimates for Western New England Bancorp Inc Reduced by Piper Sandler (NASDAQ:WNEB)Several other research firms also recently weighed in on WFC. Your Advocates Ltd. LLP bought a new stake in shares of Wells Fargo & Co in the 1st quarter worth approximately $26,000. Wells Fargo & Company (NYSE:WFC) outlined its second quarter earnings results on Tuesday 14th July 2020 before market open. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.62%. Citigroup dropped their target price on shares of Wells Fargo & Co from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, July 16th. The banking service provider, reported $ 0.66 loss per share for the quarter, missed the consensus Read More Compass Point dropped their target price on shares of Wells Fargo & Co from $33.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Wells Fargo & Co had a return on equity of 4.33% and a net margin of 6.26%. Wells Fargo & Co’s dividend payout ratio is currently 46.58%. Owing to poor Q2 results, the bank decided to reduce Q3 2020 dividend from 51 cents to 10 cents per share. The financial services provider reported ($0.66) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.50). Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and five have assigned a buy rating to the company’s stock. Engrave Wealth Partners LLC bought a new stake in shares of Wells Fargo & Co in the 4th quarter worth approximately $43,000. The ex-dividend date is Thursday, August 6th. The revenues fell short of analysts estimates by $ 566.8 million or 3.08 percent.The financial report showed revenues down 17.36 percent versus second quarter of last year.The net loss for the second quarter include, (i) $ 1.2 billion of operating losses, including $ 765 million of customer remediation accruals for a variety of matters, (ii) $ 382 million of personnel, occupancy and technology expense related to COVID-19 (non-interest expense), (iii) $ 295 million of fee and interest waivers for customer accommodations in response to COVID-19 (1), (iv) $ 346 million of net gains on equity securities from deferred compensation plan investment results, which were largely offset by $ 349 million of employee benefits expense.
The business’s quarterly revenue was down 17.5% on a year-over-year basis.Large investors have recently modified their holdings of the company. Total Clarity Wealth Management Inc. acquired a new stake in shares of Wells Fargo & Co in the 4th quarter worth approximately $35,000. Stockholders of record on Friday, August 7th will be paid a $0.10 dividend.
Your email address will not be published.The banking service provider, reported $ 0.66 loss per share for the quarter, missed the consensus estimate of $ 0.20 loss per share by $ 0.46 or 230 percent.Copyright © 2020 | Stock Market IntellectsThe Company also announced that it expects to reduce its third quarter 2020 common stock dividend to $0.10 per share from $0.51 per share, subject to approval by the Board of Directors at the customary time at the end of July.Analysts estimates are from Thompson Reuters, exclude one time gain or lossWells Fargo, Chief Executive Officer Charlie Scharf, said, We are extremely disappointed in both our second quarter results and our intent to reduce our dividend.
Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings results on Tuesday, July 14th. Wells Fargo & Co presently has an average rating of “Hold” and a consensus target price of $33.31.Brokers Set Expectations for TFI International Inc.’s Q1 2021 Earnings (TSE:TFI)Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions.