Wells Fargo & Company Declares Quarterly Dividend of $0.35 (NYSE:WFC)

Wells Fargo & Company (NYSE:WFC) announced a quarterly dividend on Tuesday, April 30th, RTT News reports. Stockholders of record on Friday, May 10th will be given a dividend of 0.35 per share by the financial services provider on Saturday, June 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.35%.

Wells Fargo & Company has raised its dividend by an average of 2.1% annually over the last three years and has raised its dividend every year for the last 3 years. Wells Fargo & Company has a payout ratio of 25.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Wells Fargo & Company to earn $5.47 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 25.6%.

Wells Fargo & Company Stock Performance

NYSE:WFC traded down $0.18 during mid-day trading on Tuesday, reaching $59.62. 10,219,844 shares of the stock were exchanged, compared to its average volume of 18,959,225. The stock has a market capitalization of $211.08 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.16 and a beta of 1.19. Wells Fargo & Company has a 1 year low of $36.40 and a 1 year high of $61.76. The company has a 50 day simple moving average of $57.09 and a 200-day simple moving average of $49.84. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the previous year, the company posted $1.23 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. Analysts anticipate that Wells Fargo & Company will post 5.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Jefferies Financial Group increased their price target on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Odeon Capital Group lowered Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective on the stock. in a report on Thursday, January 18th. HSBC increased their price target on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, March 28th. Raymond James upped their target price on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 16th. Finally, Argus lifted their price target on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Thirteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $58.85.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.