Cutler Investment Counsel LLC Has $441,000 Stake in Wells Fargo & Company (NYSE:WFC)

Cutler Investment Counsel LLC increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 10.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,961 shares of the financial services provider’s stock after purchasing an additional 825 shares during the period. Cutler Investment Counsel LLC’s holdings in Wells Fargo & Company were worth $441,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fortis Group Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at approximately $25,000. Arlington Trust Co LLC bought a new position in Wells Fargo & Company in the 4th quarter valued at approximately $25,000. Leith Wheeler Investment Counsel Ltd. raised its holdings in 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 valued at $26,000 after buying an additional 356,620 shares during the last quarter. Studio Investment Management LLC bought a new position in Wells Fargo & Company in the 4th quarter valued at approximately $28,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Wells Fargo & Company in the 1st quarter valued at approximately $28,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of WFC traded up $1.72 during midday trading on Friday, hitting $60.46. 20,261,407 shares of the company traded hands, compared to its average volume of 18,775,518. The stock has a 50-day moving average of $55.63 and a 200-day moving average of $48.68. Wells Fargo & Company has a one year low of $36.40 and a one year high of $60.85. The firm has a market cap of $214.05 billion, a P/E ratio of 12.66, a PEG ratio of 1.11 and a beta of 1.19. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the prior year, the business posted $1.23 earnings per share. The company’s revenue was up .6% on a year-over-year basis. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.04 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Robert W. Baird reiterated a “neutral” rating and issued a $55.00 price objective on shares of Wells Fargo & Company in a report on Monday, January 8th. Morgan Stanley raised their price target on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a 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. Jefferies Financial Group lifted their price target on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $51.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Thirteen analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company 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.