Fort Washington Investment Advisors Inc. OH Sells 207,356 Shares of Wells Fargo & Company (NYSE:WFC)

Fort Washington Investment Advisors Inc. OH lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 16.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,072,228 shares of the financial services provider’s stock after selling 207,356 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Wells Fargo & Company were worth $63,680,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Lee Danner & Bass Inc. purchased a new stake in shares of Wells Fargo & Company during the 2nd quarter worth approximately $3,516,000. Signaturefd LLC grew its holdings in Wells Fargo & Company by 5.6% during the second quarter. Signaturefd LLC now owns 55,166 shares of the financial services provider’s stock valued at $3,276,000 after purchasing an additional 2,922 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Wells Fargo & Company by 18.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 58,880 shares of the financial services provider’s stock worth $3,497,000 after buying an additional 9,338 shares during the last quarter. Golden State Equity Partners bought a new stake in shares of Wells Fargo & Company in the second quarter valued at $1,947,000. Finally, Argent Advisors Inc. lifted its position in shares of Wells Fargo & Company by 4.0% during the 2nd quarter. Argent Advisors Inc. now owns 28,740 shares of the financial services provider’s stock valued at $1,707,000 after buying an additional 1,101 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on WFC. Jefferies Financial Group cut Wells Fargo & Company to a “hold” rating and lowered their price objective for the company from $62.00 to $59.00 in a research note on Friday, August 16th. BMO Capital Markets upped their price target on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Keefe, Bruyette & Woods reduced their price objective on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Morgan Stanley increased their target price on Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $67.00 price target (down from $70.00) on shares of Wells Fargo & Company in a research report on Monday, July 15th. Thirteen analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $59.63.

Wells Fargo & Company Price Performance

Shares of NYSE WFC traded up $1.12 during midday trading on Friday, hitting $58.47. 20,068,054 shares of the company’s stock were exchanged, compared to its average volume of 17,823,389. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The business’s fifty day moving average price is $57.39 and its two-hundred day moving average price is $57.59. The company has a market cap of $203.84 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.40 and a beta of 1.17. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The business had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. Wells Fargo & Company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 earnings per share. As a group, research analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Friday, August 9th will be given a dividend of $0.40 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.74%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 32.85%.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.