Wells Fargo & Company (WFC) To Go Ex-Dividend on November 6th

Wells Fargo & Company (NYSE:WFC) declared a quarterly dividend on Tuesday, October 27th. Investors of record on Friday, November 6th will be given a dividend of $0.50 per share by the financial services provider on Tuesday, December 1st. This represents a $2.00 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, November 6th.

Wells Fargo & Company has raised its dividend payment by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 4 years. Wells Fargo & Company has a dividend payout ratio of 30.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Wells Fargo & Company to earn $8.03 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 24.9%.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $83.77 on Thursday. The stock has a market cap of $253.32 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 0.88 and a beta of 0.96. Wells Fargo & Company has a fifty-two week low of $72.78 and a fifty-two week high of $97.76. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.90 and a current ratio of 0.89. The stock has a fifty day moving average of $84.36 and a 200-day moving average of $83.81.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, October 13th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02. Wells Fargo & Company had a return on equity of 14.05% and a net margin of 17.64%. The company had revenue of $21.87 billion for the quarter, compared to analyst estimates of $22.30 billion. During the same period in the previous year, the company posted $1.66 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that Wells Fargo & Company will post 7.27 earnings per share for the current year.

Hedge Funds Weigh In On Wells Fargo & Company

Several hedge funds and other institutional investors have recently modified their holdings of the company. Phillip James Consulting Co. purchased a new stake in shares of Wells Fargo & Company during the first quarter worth approximately $28,000. Security National Bank of Sioux City Iowa IA acquired a new position in shares of Wells Fargo & Company in the 2nd quarter valued at $28,000. Main Street Group LTD acquired a new position in Wells Fargo & Company in the first quarter valued at $29,000. Dunhill Financial LLC purchased a new position in Wells Fargo & Company during the 2nd quarter worth approximately $30,000. Finally, BOK Financial Private Wealth Inc. purchased a new position in shares of Wells Fargo & Company during the second quarter worth approximately $34,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified financial services company that provides banking, lending, investment, and financial management services to individuals, businesses, and institutions. Its offerings include deposit accounts, residential and commercial lending, credit cards, payments, treasury management, and other banking products.

The company also provides wealth and investment management services, including financial planning, brokerage, advisory, and private banking solutions.