Wells Fargo & Company Plans Quarterly Dividend of $0.45 (NYSE:WFC)

Wells Fargo & Company (NYSE:WFC) declared a quarterly dividend on Tuesday, April 28th. Stockholders of record on Friday, May 8th will be paid a dividend of 0.45 per share by the financial services provider on Monday, June 1st. This represents a c) annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, May 8th.

Wells Fargo & Company has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 4 years. Wells Fargo & Company has a payout ratio of 27.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Wells Fargo & Company to earn $7.75 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 23.2%.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $81.43 on Wednesday. The stock has a 50-day simple moving average of $81.09 and a 200-day simple moving average of $86.20. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $251.27 billion, a PE ratio of 12.57, a PEG ratio of 0.95 and a beta of 1.06. Wells Fargo & Company has a 1 year low of $68.95 and a 1 year high of $97.76.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.02. The business had revenue of $21.45 billion during the quarter, compared to analysts’ expectations of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.39 EPS. On average, analysts predict that Wells Fargo & Company will post 6.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Barclays cut their target price on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Monday, April 20th. KGI Securities lowered Wells Fargo & Company to a “hold” rating in a research report on Thursday, April 16th. Evercore reissued an “outperform” rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $100.00 target price on shares of Wells Fargo & Company in a research report on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $97.75.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.