Bahl & Gaynor Inc. Sells 4,152 Shares of Wells Fargo & Company (NYSE:WFC)

Bahl & Gaynor Inc. decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 93,475 shares of the financial services provider’s stock after selling 4,152 shares during the period. Bahl & Gaynor Inc.’s holdings in Wells Fargo & Company were worth $4,601,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC raised its position in Wells Fargo & Company by 12.7% in the third quarter. Exchange Traded Concepts LLC now owns 3,754 shares of the financial services provider’s stock worth $153,000 after acquiring an additional 424 shares during the period. Boston Trust Walden Corp raised its position in Wells Fargo & Company by 7.4% in the third quarter. Boston Trust Walden Corp now owns 14,515 shares of the financial services provider’s stock worth $593,000 after acquiring an additional 1,000 shares during the period. CX Institutional raised its position in Wells Fargo & Company by 2.6% in the third quarter. CX Institutional now owns 20,063 shares of the financial services provider’s stock worth $820,000 after acquiring an additional 500 shares during the period. Zullo Investment Group Inc. raised its position in Wells Fargo & Company by 3.7% in the third quarter. Zullo Investment Group Inc. now owns 7,064 shares of the financial services provider’s stock worth $289,000 after acquiring an additional 253 shares during the period. Finally, MCF Advisors LLC raised its position in Wells Fargo & Company by 3.1% in the third quarter. MCF Advisors LLC now owns 9,376 shares of the financial services provider’s stock worth $383,000 after acquiring an additional 282 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $59.91 on Friday. Wells Fargo & Company has a 52 week low of $36.40 and a 52 week high of $61.76. The stock has a market capitalization of $212.11 billion, a P/E ratio of 12.51, a PEG ratio of 1.16 and a beta of 1.19. The firm has a fifty day simple moving average of $56.93 and a two-hundred day simple moving average of $49.56. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the previous year, the company earned $1.23 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, analysts expect that Wells Fargo & Company will post 5.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WFC has been the topic of several recent analyst reports. StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Morgan Stanley raised their price objective on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Argus raised their price objective on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Compass Point restated a “neutral” rating and set a $64.00 price objective on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Finally, Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Thirteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $58.85.

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.