Wells Fargo's Q2 Earnings Forecast: Analyst Insights and More
Wells Fargo Prepares for Earnings Release
Wells Fargo & Company (WFC) is set to unveil its second quarter earnings results. This highly anticipated event will take place before the opening bell on an upcoming Tuesday.
Company Earnings Expectations
Market analysts anticipate that Wells Fargo will announce earnings of approximately $1.40 per share, reflecting a notable increase from $1.33 per share during the same period last year. The company is also expected to report revenues totaling $20.76 billion, slightly up from $20.69 billion reported a year prior.
Recent Dividend Announcement
In a recent update, Wells Fargo disclosed its intention to decrease its Shareholder Capital Buffer (SCB) to 2.5% from the previous 3.8%. Additionally, the company plans to elevate its dividend by 12.5%, bringing it to 45 cents per share.
Current Market Performance
As of the latest trading session, Wells Fargo shares have experienced a decline of 1.5%, settling at a closing price of $82.34.
Analyst Ratings and Predictions
In light of the forthcoming earnings report, we examine the updated ratings and price forecasts provided by some of Wall Street's most trusted analysts.
Analyst Updates
- Raymond James analyst David Long has downgraded Wells Fargo's stock from a Strong Buy to a Market Perform rating, effective as of early July.
- Citigroup’s Keith Horowitz maintained a Neutral stance but raised the price target from $78 to $85.
- Goldman Sachs analyst Richard Ramsden upheld a Buy rating and increased the price target from $76 to $86.
- Piper Sandler’s Scott Siefers reiterated an Overweight rating with a new price target of $85, up from $75.
- John Pancari from Evercore ISI Group maintained an Outperform rating, boosting the price target from $72 to $88.
Assessing Purchase Interest
Considering investing in Wells Fargo's stock? Insights from various analysts can serve as invaluable guidance when making your financial decisions.
Frequently Asked Questions
When will Wells Fargo release its Q2 earnings?
The earnings report is expected before the opening bell on an upcoming Tuesday, though the exact date has not been disclosed.
What are analysts anticipating for Wells Fargo's Q2 earnings?
Analysts predict earnings of $1.40 per share, compared to last year's $1.33.
How has Wells Fargo's stock performed recently?
Wells Fargo's shares decreased by 1.5%, closing at $82.34.
What is the new dividend amount for Wells Fargo?
The dividend will be raised to 45 cents per share, reflecting a 12.5% increase.
Which analysts have recently updated their ratings on Wells Fargo?
Prominent analysts from firms like Raymond James, Citigroup, and Goldman Sachs have all provided recent updates regarding Wells Fargo's stock.
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