Wells Fargo (WFC) is set to release its second-quarter earnings report before the market opens on Tuesday, July 15th. Analysts are anticipating strong results, projecting earnings per share (EPS) of $1.40, a slight increase from $1.33 in the same period last year. Revenue is expected to reach $20.76 billion, marginally higher than the $20.69 billion reported in Q2 2024. These figures come from Benzinga Pro’s compilation of data.
On July 1st, Wells Fargo offered a preliminary outlook, suggesting a decrease in its net interest margin to 2.5% from 3.8% and a planned 12.5% dividend increase to 45 cents per share. This announcement followed a 1.5% drop in Wells Fargo’s stock price, closing at $82.34 on Monday. The market is clearly anticipating the upcoming earnings release.
To help navigate these expectations, let’s examine the recent rating changes from some of Wall Street’s most accurate analysts, as tracked by Benzinga:
* Raymond James analyst David Long (68% accuracy) downgraded WFC from Strong Buy to Market Perform on July 7th.
* Citigroup analyst Keith Horowitz (79% accuracy) maintained a Neutral rating but raised the price target from $78 to $85 on July 2nd.
* Goldman Sachs analyst Richard Ramsden (71% accuracy) maintained a Buy rating and increased the price target from $76 to $86 on June 10th.
* Piper Sandler analyst Scott Siefers (72% accuracy) reiterated an Overweight rating and raised the price target from $75 to $85 on June 4th.
* Evercore ISI Group analyst John Pancari (68% accuracy) maintained an Outperform rating and boosted the price target from $72 to $88 on June 4th.
The divergence in analyst opinions highlights the uncertainty surrounding Wells Fargo’s performance. While some analysts express caution, others remain bullish, suggesting a range of potential outcomes for the stock. Investors should carefully weigh these differing perspectives and consider their own risk tolerance before making any investment decisions.
Want to delve deeper into the analyst ratings and price targets for WFC? Check out Benzinga’s comprehensive Analyst Stock Ratings page for a detailed breakdown. Remember, this information is for educational purposes only and does not constitute financial advice. Always conduct your own thorough research before investing.
