KBW: Wells Fargo Is a 'Dividend Cut' Candidate
Wells Fargo (NYSE: WFC) may struggle to maintain its dividend as banks prepare for difficult quarters ahead that could include increased credit provisions and more writedowns. That's according to a team of analysts at Keefe, Bruyette & Woods (KBW), led by Christopher McGratty, who recently created a list of 21 banks that are "potential dividend cut candidates."
Overall, KBW analysts believe dividends are "broadly safe" for 90% of banks. But by far, Wells Fargo was the largest bank on its list, with roughly $1.98 trillion in total assets. The next closest was Citizens Financial Group, which holds $176 billion in assets.
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Source Fool.com
