Wells Fargo, the fifth largest U.S. bank and the biggest bank on the West Coast, reported better-than-expected quarterly results and raised its dividend despite a 23 percent decline in profit caused by deteriorating credit.
Despite the decline in profits, the company nevertheless increased its quarterly dividend to 34 cents per share from 31 cents.
In reaction, Wells Fargo shares have rallied and were recently trading up 22 percent. In addition, many stocks in the battered banking sector also were trading higher.
Experts joined CNBC to share their insights on the future of the company, its decision to raise the dividend, and the banking industry.