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

Core Viewpoint - Wells Fargo is set to release its third-quarter earnings results on October 11, with expectations of a decline in earnings per share compared to the previous year [1][2]. Financial Performance - Analysts predict Wells Fargo will report quarterly earnings of $1.28 per share, down from $1.48 per share in the same period last year [2]. - The bank is projected to report revenue of $20.41 billion for the recent quarter [2]. Regulatory Developments - On September 12, Wells Fargo announced a formal agreement with the OCC to enhance its anti-money laundering and sanctions risk management practices following an enforcement action by the regulator [2]. Stock Performance and Analyst Ratings - Wells Fargo shares increased by 0.4%, closing at $57.75 on Thursday [2]. - Wolfe Research analyst Steven Chubak upgraded the stock from Peer Perform to Outperform with a price target of $65 on October 8 [2]. - Evercore ISI Group analyst John Pancari maintained an Outperform rating and raised the price target from $65 to $68 on October 2 [2]. - Goldman Sachs analyst Richard Ramsden maintained a Buy rating but reduced the price target from $68 to $65 on September 11 [2]. - Deutsche Bank analyst Matt O'Connor upgraded the stock from Hold to Buy with a price target of $65 on September 3 [2]. - BMO Capital analyst James Fotheringham maintained a Market Perform rating and increased the price target from $57 to $59 on July 15 [2].