Fort Washington Investment Advisors Inc. OH Sells 137,241 Shares of Wells Fargo & Company $WFC

Fort Washington Investment Advisors Inc. OH trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC) by 13.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 916,490 shares of the financial services provider’s stock after selling 137,241 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Wells Fargo & Company were worth $76,820,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Access Investment Management LLC bought a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at about $25,000. CBIZ Investment Advisory Services LLC grew its holdings in shares of Wells Fargo & Company by 585.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 322 shares in the last quarter. McElhenny Sheffield Capital Management LLC bought a new stake in Wells Fargo & Company in the second quarter worth about $27,000. 1248 Management LLC bought a new stake in shares of Wells Fargo & Company in the 1st quarter worth approximately $31,000. Finally, Kilter Group LLC bought a new stake in Wells Fargo & Company in the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup upped their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Cowen reiterated a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, October 15th. Dbs Bank raised Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Evercore ISI boosted their price objective on Wells Fargo & Company from $101.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, December 15th. Finally, Bank of America raised their target price on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.04.

Wells Fargo & Company Stock Down 0.8%

Shares of WFC opened at $94.53 on Tuesday. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $95.85. The business’s fifty day moving average price is $88.10 and its two-hundred day moving average price is $83.24. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $296.72 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 0.99 and a beta of 1.11.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.18. The business had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The firm’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the company earned $1.42 EPS. On average, analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 7th were issued a dividend of $0.45 per share. The ex-dividend date was Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a yield of 1.9%. Wells Fargo & Company’s payout ratio is currently 29.61%.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.