Wells Fargo & Co (NYSE:WFC) declared a quarterly dividend on Tuesday, October 23rd, RTT News reports. Investors of record on Friday, November 9th will be paid a dividend of 0.43 per share by the financial services provider on Saturday, December 1st. This represents a $1.72 annualized dividend and a yield of 3.34%.

Wells Fargo & Co has raised its dividend payment by an average of 4.5% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Wells Fargo & Co has a dividend payout ratio of 37.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Wells Fargo & Co to earn $5.14 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 33.5%.

WFC stock traded down $0.14 during midday trading on Tuesday, hitting $51.51. 2,411,505 shares of the stock were exchanged, compared to its average volume of 21,429,516. The stock has a market cap of $257.98 billion, a PE ratio of 12.54, a P/E/G ratio of 1.12 and a beta of 1.15. Wells Fargo & Co has a fifty-two week low of $50.26 and a fifty-two week high of $66.31. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 0.87.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, October 12th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.04). The firm had revenue of $21.94 billion for the quarter, compared to analyst estimates of $21.90 billion. Wells Fargo & Co had a return on equity of 12.69% and a net margin of 23.17%. As a group, equities research analysts predict that Wells Fargo & Co will post 4.5 earnings per share for the current year.

In related news, EVP Avid Modjtabai sold 100,000 shares of the stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $58.71, for a total value of $5,871,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Hope A. Hardison sold 25,000 shares of the stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $58.01, for a total value of $1,450,250.00. Following the completion of the transaction, the executive vice president now directly owns 109 shares of the company’s stock, valued at $6,323.09. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

An institutional investor recently bought a new position in Wells Fargo & Co stock. HC Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Co (NYSE:WFC) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 36,789 shares of the financial services provider’s stock, valued at approximately $2,232,000. Wells Fargo & Co makes up approximately 2.2% of HC Financial Advisors Inc.’s investment portfolio, making the stock its 14th biggest position. 77.61% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently commented on WFC shares. Zacks Investment Research upgraded Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Saturday, July 7th. Edward Jones upgraded Wells Fargo & Co from a “hold” rating to a “buy” rating in a research note on Monday, September 17th. UBS Group set a $63.00 price target on Wells Fargo & Co and gave the stock a “buy” rating in a research note on Friday, September 28th. Nomura cut their price target on Wells Fargo & Co from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, October 15th. Finally, Morgan Stanley cut their price objective on Wells Fargo & Co from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Monday, July 16th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company. Wells Fargo & Co presently has a consensus rating of “Hold” and an average price target of $63.79.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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Dividend History for Wells Fargo & Co (NYSE:WFC)

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