Fort Washington Investment Advisors Inc. OH Sells 49,258 Shares of Wells Fargo & Company (NYSE:WFC)

Fort Washington Investment Advisors Inc. OH decreased its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 4.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,175,842 shares of the financial services provider's stock after selling 49,258 shares during the period. Fort Washington Investment Advisors Inc. OH's holdings in Wells Fargo & Company were worth $84,414,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new position in Wells Fargo & Company in the 4th quarter worth approximately $26,000. Investment Counsel Co. of Nevada acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $28,000. BNP Paribas acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $28,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $30,000. Finally, Rakuten Securities Inc. boosted its stake in shares of Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after buying an additional 237 shares during the period. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Trading Down 2.3%

NYSE WFC traded down $1.70 during trading hours on Friday, hitting $72.31. The company's stock had a trading volume of 21,164,035 shares, compared to its average volume of 17,495,205. The stock has a fifty day moving average of $71.42 and a 200 day moving average of $72.93. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The firm has a market capitalization of $235.31 billion, a P/E ratio of 13.44, a PEG ratio of 1.18 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. During the same period in the prior year, the business posted $1.20 earnings per share. Wells Fargo & Company's revenue was down 3.4% compared to the same quarter last year. Equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company announced that its Board of Directors has approved a stock buyback plan on Tuesday, April 29th that permits the company to repurchase $40.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 17.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 9th were issued a $0.40 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.60 annualized dividend and a yield of 2.21%. Wells Fargo & Company's dividend payout ratio is currently 28.73%.

Analyst Ratings Changes

A number of brokerages have issued reports on WFC. TD Cowen started coverage on shares of Wells Fargo & Company in a research note on Thursday, May 15th. They set a "hold" rating and a $83.00 target price for the company. Bank of America raised their price target on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. The Goldman Sachs Group raised their price target on shares of Wells Fargo & Company from $76.00 to $86.00 and gave the company a "buy" rating in a report on Tuesday. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 target price on the stock in a report on Thursday, March 13th. Finally, Barclays dropped their target price on shares of Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $77.68.

Wells Fargo & Company Company Profile

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.