Shares of Wells Fargo (WFC) closed at $30.16 Friday, returning 11% year-to-date, following a 10% decline during 2011.
Based on a quarterly payout of 22 cents, the shares have a dividend yield of 2.92%.
The shares trade for 1.9 times tangible book value, according to Thomson Reuters Bank Insight, and for eight times the consensus 2013 earnings estimate of $3.68, among analysts polled by Thomson Reuters. The consensus 2013 EPS estimate is $3.28.Miller on Monday increased his 2012 GAAP EPS estimate for Wells Fargo to $3.30 from $3.23, and his operating earnings estimate to $3.23 from $3.12, "based on our expectation for increased mortgage banking revenue from higher originations to offset the negative impact of a lower net interest margin." The analyst also lowered his "FY13 GAAP and operating EPS estimates to $3.38 from $3.65 as earnings are negatively affected from falling asset yields and moderating origination volumes." Miller left his price target for Wells Fargo's shares unchanged, at $39.00. Interested in more on Wells Fargo? See TheStreet Ratings' report card for this stock.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV