Fort Washington Investment Advisors Inc. OH Cuts Stake in Wells Fargo & Company $WFC

Fort Washington Investment Advisors Inc. OH lessened its position in Wells Fargo & Company (NYSE:WFC) by 10.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,053,731 shares of the financial services provider’s stock after selling 122,111 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Wells Fargo & Company were worth $84,425,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Accretive Wealth Partners LLC purchased a new stake in shares of Wells Fargo & Company in the first quarter valued at about $399,000. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in Wells Fargo & Company by 10.4% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock worth $54,471,000 after buying an additional 71,740 shares in the last quarter. Secured Retirement Advisors LLC purchased a new stake in Wells Fargo & Company during the first quarter worth about $408,000. RKL Wealth Management LLC boosted its holdings in Wells Fargo & Company by 166.4% during the first quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider’s stock worth $588,000 after buying an additional 5,113 shares in the last quarter. Finally, Allianz SE boosted its holdings in Wells Fargo & Company by 22.6% during the first quarter. Allianz SE now owns 212,335 shares of the financial services provider’s stock worth $15,244,000 after buying an additional 39,150 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $85.01 on Friday. The firm has a 50 day simple moving average of $80.84 and a 200-day simple moving average of $75.91. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a market cap of $272.32 billion, a PE ratio of 14.56, a P/E/G ratio of 1.31 and a beta of 1.25. Wells Fargo & Company has a 1-year low of $54.40 and a 1-year high of $86.65.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. The business had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The company’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.33 earnings per share. On average, equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were given a $0.45 dividend. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 30.82%.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of research analyst reports. Raymond James Financial downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 7th. Piper Sandler restated an “overweight” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Wall Street Zen cut shares of Wells Fargo & Company from a “hold” rating to a “sell” rating in a research report on Friday. The Goldman Sachs Group cut their target price on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Finally, Phillip Securities cut shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.97.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.