Topic: How To Invest

Dividend Advisor Hotline – Friday, June 13, 2025

Article Excerpt

WELLS FARGO & CO., $72.36, New York symbol WFC, is a buy. The bank had total assets of $1.95 trillion as of March 31, 2025. That makes Wells Fargo the fourth-largest bank in the U.S., after J.P. Morgan, Bank of America, and Citigroup. Wells Fargo last increased your quarterly dividend by 14.3% with the September 2024 payment, to $0.40 a share from $0.35. The new annual rate of $1.60 yields 2.2%. Due to the 2016 scandal that saw Wells Fargo employees open bank and credit card accounts for customers without their consent, the U.S. Federal Reserve in 2018 restricted the amount of assets the bank could have on its balance sheet to $1.95 trillion. In response to that asset cap, it has sold some of its less-important operations. This month, the Federal Reserve lifted that asset cap. As a result, Wells Fargo can expand its credit card, wealth management and commercial banking operations without shrinking assets in other areas. That will let it better…