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

Wells Fargo & Company (NYSE:WFC) announced a quarterly dividend on Tuesday, April 30th, RTT News reports. Investors of record on Friday, May 10th will be paid a dividend of 0.35 per share by the financial services provider on Saturday, June 1st. This represents a $1.40 annualized dividend and a yield of 2.36%.

Wells Fargo & Company has raised its dividend by an average of 2.1% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Wells Fargo & Company has a dividend payout ratio of 25.5% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

NYSE WFC traded down $0.48 during mid-day trading on Tuesday, hitting $59.32. The stock had a trading volume of 18,007,381 shares, compared to its average volume of 19,055,352. Wells Fargo & Company has a 52-week low of $36.40 and a 52-week high of $61.76. The company has a market cap of $210.02 billion, a price-to-earnings ratio of 12.38, a P/E/G ratio of 1.16 and a beta of 1.19. The company has a 50 day simple moving average of $57.24 and a 200 day simple moving average of $49.97. 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 - Get Free Report) last issued its quarterly 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. The firm had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. Wells Fargo & Company's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.23 earnings per share. Equities analysts forecast that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $51.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Odeon Capital Group lowered Wells Fargo & Company from a "buy" rating to a "hold" rating and set a $48.80 target price on the stock. in a research report on Thursday, January 18th. Jefferies Financial Group lifted their target price on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a "hold" rating in a research note on Monday, April 8th. HSBC upped their target price on Wells Fargo & Company from $55.00 to $60.00 and gave the company a "hold" rating in a research report on Thursday, March 28th. Finally, Compass Point reaffirmed a "neutral" rating and set a $64.00 price target on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Thirteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price 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.