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• WFC 90% Rate It

On Friday banking and financial services powerhouse Wells Fargo & Company ( WFC ) reported a sharp rise in net income.

The San Francisco based company reported third-quarter net income of $4.72 billion, or 88 cents per share, versus net income of $3.84 billion, or 72 cents per share, a year earlier.

Quarterly revenue was up 7.4%, from $19.63 billion last year to $21.21 billion.

Analysts polled by Reuters expected Wells Fargo to earn smaller profit of 87 cents per share on higher revenues of $21.47 billion.

Wells Fargo's share price was down $1.14, or -3.2%, in premarket trading on Friday. The stock is up over 25% YTD.

The Bottom Line
Shares of Wells Fargo ( WFC ) have a 2.50% dividend yield, based on last night's closing stock price of $35.18. The stock has technical support in the $32-$34 price area. If the shares can firm up, we see overhead resistance around the $36-$39 price levels.

Wells Fargo & Company ( WFC ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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