Wells Fargo & Company (WFC) To Go Ex-Dividend on May 9th

Wells Fargo & Company (NYSE:WFC) declared a quarterly dividend on Tuesday, April 30th, RTT News reports. Shareholders 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%. The ex-dividend date is Thursday, May 9th.

Wells Fargo & Company has raised its dividend payment by an average of 2.1% per year 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% meaning its dividend is sufficiently covered by earnings. Equities 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 Up 0.3 %

Shares of NYSE:WFC opened at $59.50 on Thursday. The company has a market capitalization of $210.65 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 1.15 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $36.40 and a 1 year high of $61.76. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The business has a fifty day moving average price of $57.38 and a two-hundred day moving average price of $50.03.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on WFC shares. Jefferies Financial Group lifted their target price on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Odeon Capital Group downgraded 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. Robert W. Baird reiterated a “neutral” rating and issued a $55.00 price target on shares of Wells Fargo & Company in a research report on Monday, January 8th. HSBC increased their price objective on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $51.00 target price on shares of Wells Fargo & Company in a report on Tuesday, January 9th. Fourteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $58.99.

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.