Wells Fargo & Company (WFC) To Go Ex-Dividend on February 7th

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

Wells Fargo & Company has increased its dividend payment by an average of 35.7% per year over the last three years. Wells Fargo & Company has a payout ratio of 23.2% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

NYSE WFC opened at $78.41 on Thursday. The company’s 50 day moving average is $73.35 and its 200-day moving average is $64.38. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $78.98. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The firm has a market cap of $261.07 billion, a P/E 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 posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 EPS. Sell-side analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of analyst reports. Evercore ISI upped their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Morgan Stanley upped their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Citigroup boosted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price target for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Finally, UBS Group boosted their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.