Wells Fargo Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Benzinga - by Avi Kapoor, Benzinga Staff Writer.

Wells Fargo & Company (NYSE: WFC) is expected to release earnings results for its first quarter, before the opening bell on April 12, 2024.

Analysts expect the San Francisco, California-based company to report quarterly earnings at $1.09 per share, down from $1.23 per share in the year-ago quarter. Wells Fargo is projected to report quarterly revenue of $20.2 billion, compared to $20.73 billion in the year-earlier period, according to data from Benzinga Pro.

Wells Fargo said Jason M. Rosenberg will join the company on April 15 as Head of Public Affairs, reporting to CEO Charlie Scharf and joining the company's Operating Committee.

Wells Fargo shares fell 1.1% to close at $56.94 on Wednesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Jefferies analyst Ken Usdin maintained a Hold rating and raised the price target from $52 to $60 on April 8, 2024. This analyst has an accuracy rate of 68%.
• Keefe, Bruyette & Woods analyst David Konrad downgraded the stock from Outperform to Market Perform on March 27, 2024. This analyst has an accuracy rate of 75%.
• Citigroup analyst Keith Horowitz downgraded the stock from Buy to Neutral and raised the price target from $57 to $63 on March 20, 2024. This analyst has an accuracy rate of 79%.
• Piper Sandler analyst Scott Siefers maintained a Neutral rating and cut the price target from $51 to $50 on Jan. 16, 2024. This analyst has an accuracy rate of 69%.
• Baird analyst David George downgraded the stock from Outperform to Neutral with a price target of $55 on Jan. 8, 2024. This analyst has an accuracy rate of 74%.

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