Company Of The Day: Wells Fargo & Co

June 29th, 2021 by Trefis Team
-6.91%
Downside
60.60
Market
56.41
Trefis
WFC: Wells Fargo logo
WFC
Wells Fargo

What?

Wells Fargo (NYSE:WFC) said that it would double its Q3 common stock dividend to 20 cents a share, also noting that it plans to buy back about $18 billion in stock over the next four quarters.

Why?

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The move comes shortly after the bank cleared the Federal Reserve’s Comprehensive Capital Analysis and Review (CCAR) stress test.

So What?

Big banks have been emphasizing share repurchases as a means of returning capital to shareholders. Wells Fargo’s planned buybacks are sizable, standing at almost 10% of its current market cap of $190 billion.

See Our Complete Analysis For Wells Fargo

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