Wells Fargo & Company (NYSE:WFC) Shares Acquired by Cutler Investment Counsel LLC

Cutler Investment Counsel LLC lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 10.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,961 shares of the financial services provider’s stock after acquiring an additional 825 shares during the quarter. Cutler Investment Counsel LLC’s holdings in Wells Fargo & Company were worth $441,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Fortis Group Advisors LLC acquired a new position in Wells Fargo & Company in the 3rd quarter worth $25,000. Arlington Trust Co LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $25,000. Leith Wheeler Investment Counsel Ltd. increased its position in shares of Wells Fargo & Company by 208.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 356,620 shares during the last quarter. Studio Investment Management LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $28,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Wells Fargo & Company during the 1st quarter valued at about $28,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 2.9 %

Shares of WFC stock traded up $1.72 during trading hours on Friday, reaching $60.46. 20,261,407 shares of the stock traded hands, compared to its average volume of 18,775,518. Wells Fargo & Company has a 1-year low of $36.40 and a 1-year high of $60.85. The business has a fifty day moving average price of $55.63 and a 200 day moving average price of $48.68. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $214.05 billion, a PE ratio of 12.66, a PEG ratio of 1.11 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating 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 business had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same quarter in the previous year, the business earned $1.23 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. On average, equities research analysts forecast that Wells Fargo & Company will post 5.04 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.32%. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WFC. Morgan Stanley boosted 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. Odeon Capital Group downgraded shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective for the company. in a research report on Thursday, January 18th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $51.00 target price on shares of Wells Fargo & Company in a research note on Tuesday, January 9th. Argus boosted their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research note on Monday. Finally, Evercore ISI boosted their target price on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Thirteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and an average price target of $58.85.

Wells Fargo & 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.