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

Wells Fargo & Company (NYSE:WFC) declared a quarterly dividend on Tuesday, January 28th,RTT News reports. Stockholders of record on Tuesday, January 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 dividend yield of 2.01%. The ex-dividend date is Friday, February 7th.

Wells Fargo & Company has increased its dividend by an average of 35.7% annually 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 $79.54 on Wednesday. The company has a fifty day moving average of $73.66 and a two-hundred day moving average of $65.06. Wells Fargo & Company has a fifty-two week low of $47.45 and a fifty-two week high of $79.85. The stock has a market capitalization of $264.83 billion, a PE ratio of 14.78, a P/E/G ratio of 1.19 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

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

Analysts Set New Price Targets

WFC has been the topic of several analyst reports. The Goldman Sachs Group lifted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Keefe, Bruyette & Woods boosted their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Truist Financial boosted their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their target price for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Finally, Piper Sandler boosted their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average 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.