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.
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.
COPYRIGHT VIOLATION NOTICE: “Wells Fargo & Co (WFC) Declares Quarterly Dividend of $0.39” was originally reported by American Banking News and is the property of of American Banking News. If you are accessing this piece on another website, it was illegally copied and republished in violation of international copyright & trademark laws. The original version of this piece can be accessed at https://www.americanbankingnews.com/2018/01/23/wells-fargo-co-wfc-declares-quarterly-dividend-of-0-39.html.
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.
Receive News & Ratings for Wells Fargo & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co and related companies with MarketBeat.com's FREE daily email newsletter.