Wells Fargo & Company (NYSE:WFC) to Issue $0.40 Quarterly Dividend

Wells Fargo & Company (NYSE:WFC) declared a quarterly dividend on Tuesday, January 28th,RTT News reports. Investors of record on Friday, February 7th will be paid a dividend of 0.40 per share by the financial services provider on Saturday, March 1st. This represents a $1.60 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Friday, February 7th.

Wells Fargo & Company has increased its dividend by an average of 35.7% per year over the last three years. Wells Fargo & Company has a dividend payout ratio of 23.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Wells Fargo & Company to earn $6.79 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 23.6%.

Wells Fargo & Company Trading Up 0.7 %

NYSE:WFC opened at $78.41 on Thursday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a fifty-two week low of $47.45 and a fifty-two week high of $78.98. The stock’s 50-day moving average is $73.35 and its two-hundred day moving average is $64.38. The stock has a market cap of $261.07 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 EPS. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. UBS Group boosted their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Morgan Stanley upped their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price objective for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Barclays boosted their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Truist Financial upped their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.