Banking giant Wells Fargo & Company (
) on Wednesday posted a 21% gain in fourth quarter profit, matching
The San Francisco-based company reported fiscal fourth quarter
net income of $3.41 billion, or 61 cents per share, compared with
$2.82 billion, or 8 cents per share, in the year-ago period.
Revenue fell 5% from last year to $21.49 billion.
On average, Wall Street analysts expected a matching profit of
61 cents per share, on lower revenue of $21 billion.
Wells Fargo shares fell 19 cents, or -0.6%, in premarket trading
The Bottom Line
Shares of Wells Fargo (
) have a .62% dividend yield, based on last night's closing stock
price of $32.49. The stock has technical support in the $28-$30
price area. If the shares can firm up, we see overhead resistance
around the $34 price level.
Wells Fargo & Company (
) 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
Created by Dividend.com