Wells Fargo & Company (NYSE:WFC) announced a quarterly dividend on Tuesday, October 22nd, RTT News reports. Stockholders of record on Friday, November 8th will be paid a dividend of 0.40 per share by the financial services provider on Sunday, December 1st. This represents a $1.60 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Friday, November 8th.
Wells Fargo & Company has raised its dividend payment by an average of 2.1% annually over the last three years. Wells Fargo & Company has a dividend payout ratio of 29.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Wells Fargo & Company to earn $5.39 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 29.7%.
Wells Fargo & Company Price Performance
NYSE WFC opened at $64.56 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a 1 year low of $38.58 and a 1 year high of $65.21. The company has a market cap of $225.08 billion, a PE ratio of 13.26, a PEG ratio of 1.46 and a beta of 1.16. The stock’s 50-day moving average price is $57.20 and its two-hundred day moving average price is $58.15.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on WFC shares. Evercore ISI raised their target price on Wells Fargo & Company from $68.00 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Keefe, Bruyette & Woods dropped their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Tuesday, September 3rd. Compass Point upped their price objective on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, October 15th. Finally, The Goldman Sachs Group cut their target price on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Thirteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.82.
Get Our Latest Stock Analysis on WFC
Insider Activity
In related news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction on Monday, October 14th. The stock was sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the sale, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $7,853,327.13. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $61.99, for a total value of $2,169,650.00. Following the sale, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the completion of the sale, the executive vice president now directly owns 163,610 shares in the company, valued at approximately $10,421,957. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.
About Wells Fargo & Company
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.
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