Boston, MA 10/23/2013 (wallstreetpr) – Wells Fargo & Co (NYSE:WFC) on Tuesday, October 22, declared Q3.13 dividend of $0.30 per share. This dividend payout captures investors of record as of November 8 and will be paid out on the first day of December, a Sunday.
The declared $0.30 dividend represents 2.82% dividend yield and $1.20 annualized dividend.
In the Tuesday’s trading, WFC witnessed a positive activity, gaining $0.32 per share to close up $42.94. The global financial services provider now has a market capitalization of $226.45 billion.
In its Q3.13 reports released October 11, WFC announced $0.99 EPS, exceeding the analysts’ expectation of $0.97 by a straight $0.02. In the quarter, the financial institution collected revenue of $20.50 billion, missing the analysts’ estimate of $21 billion on this front. The Q3.13 revenue indicated a 3.5% downside compared against Q3.12. However, the Q3.12 earnings were $0.88, so this means that the EPS grew by $0.11 from a year ago.
This financial services institution has an average hold rating at a price target of $43.85. This follows sentiments from several analysts studying the company. At least 36 equities analysts have issued their comments on the stock lately, with 12 giving it a buy rating, 22 analysts issuing a hold and two analysts assigning the stock a sell rating.
The Q3.13 did not come up well for WFC Company is its ailing mortgage unit has been its undoing. However, with more aggressive cost cutting measures and widening business in other financial fronts such as wealth management, WFC looks poised for a better Q4.13.
The financial holding company has units and businesses across 50 states and other global countries. Its wide range of financial services has been its strength in the recently volatile financial sector that has seen its peers report more in the red for the previous quarters. Investors with an eye in long-term value have a perfect bet in WFC.
