Wells Fargo & Company (NYSE:WFC) issued its earnings results on Friday. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14, RTT News reports. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The firm had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter in the previous year, the company posted $1.39 earnings per share. The business’s quarterly revenue was down 2.4% compared to the same quarter last year.
Wells Fargo & Company Price Performance
Shares of Wells Fargo & Company stock opened at $60.99 on Friday. The stock has a market capitalization of $212.63 billion, a price-to-earnings ratio of 12.52, a P/E/G ratio of 1.46 and a beta of 1.16. The firm’s 50-day moving average price is $55.39 and its two-hundred day moving average price is $57.78. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a 1-year low of $38.58 and a 1-year high of $62.55.
Wells Fargo & Company Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were issued a dividend of $0.40 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 32.85%.
Wall Street Analysts Forecast Growth
View Our Latest Stock Analysis on WFC
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.
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