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

Fort Washington Investment Advisors Inc. OH trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 13.0% in the third quarter, Holdings Channel reports. The fund owned 916,490 shares of the financial services provider’s stock after selling 137,241 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Wells Fargo & Company were worth $76,820,000 at the end of the most recent quarter.

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

Wells Fargo & Company Trading Down 0.8%

WFC opened at $94.53 on Tuesday. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $95.85. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The company has a market cap of $296.72 billion, a P/E ratio of 15.55, a PEG ratio of 0.99 and a beta of 1.11. The company’s 50 day moving average is $88.10 and its 200-day moving average is $83.24.

Wells Fargo & Company (NYSE:WFC) last announced 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 company had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.42 earnings per share. Equities research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have weighed in on WFC shares. Cfra Research raised Wells Fargo & Company to a “moderate buy” rating in a research report on Wednesday, October 15th. TD Cowen upped their price objective on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Evercore ISI raised their target price on shares of Wells Fargo & Company from $101.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, December 15th. UBS Group reduced their price target on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods increased their price objective on Wells Fargo & Company from $92.00 to $101.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 17th. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $92.04.

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.