Wells Fargo & Company (NYSE:WFC) to Issue Quarterly Dividend of $0.40

Wells Fargo & Company (NYSE:WFC) announced a quarterly dividend on Tuesday, January 28th,RTT News reports. Investors of record on Tuesday, January 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 dividend on an annualized basis and a dividend yield of 2.05%.

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

Shares of NYSE WFC opened at $77.99 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a fifty day simple moving average of $73.35 and a two-hundred day simple moving average of $64.38. Wells Fargo & Company has a 1-year low of $47.45 and a 1-year high of $78.30. The firm has a market cap of $259.66 billion, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The firm’s quarterly revenue was down .5% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Analysts Set New Price Targets

WFC has been the subject of several recent research reports. Piper Sandler lifted their target price 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. Evercore ISI boosted their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Barclays increased their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday, October 14th. Finally, Compass Point increased their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and a consensus price target 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.