Wells Fargo & Co (WFC) Declares Quarterly Dividend of $0.39

Wells Fargo & Co (NYSE:WFC) announced a quarterly dividend on Tuesday, January 23rd, RTT News reports. Stockholders of record on Friday, February 2nd will be paid a dividend of 0.39 per share by the financial services provider on Thursday, March 1st. This represents a $1.56 annualized dividend and a dividend yield of 2.41%.

Wells Fargo & Co has raised its dividend by an average of 4.5% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Wells Fargo & Co has a dividend payout ratio of 33.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Wells Fargo & Co to earn $5.23 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 29.8%.

Shares of Wells Fargo & Co (WFC) traded up $0.51 on Tuesday, hitting $64.73. 12,244,100 shares of the stock traded hands, compared to its average volume of 17,518,557. Wells Fargo & Co has a 52-week low of $49.27 and a 52-week high of $64.75. The stock has a market cap of $317,800.00, a PE ratio of 15.67, a PEG ratio of 1.69 and a beta of 0.96. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.90 and a quick ratio of 0.88.

Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.07). Wells Fargo & Co had a return on equity of 12.24% and a net margin of 22.57%. The business had revenue of $22.05 billion during the quarter, compared to analysts’ expectations of $22.64 billion. During the same period in the previous year, the company posted $0.96 EPS. Wells Fargo & Co’s revenue for the quarter was up 2.2% on a year-over-year basis. equities analysts expect that Wells Fargo & Co will post 4.7 earnings per share for the current fiscal year.

WFC has been the subject of several research reports. Sandler O’Neill raised shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and upped their price target for the stock from $62.04 to $73.00 in a research report on Tuesday, January 9th. Vetr cut shares of Wells Fargo & Co from a “hold” rating to a “sell” rating and set a $54.49 price target for the company. in a research report on Thursday, November 2nd. Zacks Investment Research raised shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Buckingham Research raised shares of Wells Fargo & Co from a “neutral” rating to a “buy” rating and increased their target price for the company from $57.00 to $75.00 in a research report on Thursday, December 21st. They noted that the move was a valuation call. Finally, BMO Capital Markets reissued a “hold” rating and set a $59.00 target price on shares of Wells Fargo & Co in a research report on Thursday, January 4th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Wells Fargo & Co presently has a consensus rating of “Hold” and a consensus price target of $61.71.

In other Wells Fargo & Co news, insider Michael J. Loughlin sold 17,482 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $57.80, for a total value of $1,010,459.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Richard Levy sold 97,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.47, for a total transaction of $5,477,590.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,482 shares of company stock valued at $10,471,050. Corporate insiders own 0.22% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of WFC. Amussen Hunsaker & Associates LLC acquired a new stake in shares of Wells Fargo & Co in the second quarter worth $625,000. Schafer Cullen Capital Management Inc. increased its stake in shares of Wells Fargo & Co by 2.4% in the second quarter. Schafer Cullen Capital Management Inc. now owns 2,480,541 shares of the financial services provider’s stock worth $137,447,000 after acquiring an additional 57,401 shares during the period. Keel Point LLC increased its stake in shares of Wells Fargo & Co by 4.8% in the second quarter. Keel Point LLC now owns 9,439 shares of the financial services provider’s stock worth $523,000 after acquiring an additional 435 shares during the period. Schneider Capital Management Corp acquired a new stake in shares of Wells Fargo & Co in the second quarter worth $17,007,000. Finally, Sterling Capital Management LLC increased its stake in shares of Wells Fargo & Co by 1.5% in the second quarter. Sterling Capital Management LLC now owns 1,758,084 shares of the financial services provider’s stock worth $97,415,000 after acquiring an additional 26,484 shares during the period. 76.19% of the stock is owned by institutional investors and hedge funds.

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Wells Fargo & Co Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

Dividend History for Wells Fargo & Co (NYSE:WFC)

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