Cutter & CO Brokerage Inc. Has $242,000 Stake in Wells Fargo & Company (NYSE:WFC)

Cutter & CO Brokerage Inc. cut its position in Wells Fargo & Company (NYSE:WFC) by 13.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,911 shares of the financial services provider’s stock after selling 756 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Wells Fargo & Company were worth $242,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WFC. Panagora Asset Management Inc. boosted its stake in shares of Wells Fargo & Company by 131.0% in the third quarter. Panagora Asset Management Inc. now owns 3,453,854 shares of the financial services provider’s stock valued at $141,124,000 after buying an additional 1,958,483 shares during the period. Nordea Investment Management AB grew its holdings in shares of Wells Fargo & Company by 42.7% during the 4th quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock worth $285,668,000 after purchasing an additional 1,729,132 shares in the last quarter. Artemis Investment Management LLP increased its position in shares of Wells Fargo & Company by 87.8% in the fourth quarter. Artemis Investment Management LLP now owns 3,314,853 shares of the financial services provider’s stock worth $163,160,000 after purchasing an additional 1,549,979 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new position in Wells Fargo & Company in the third quarter valued at about $54,894,000. Finally, Canada Pension Plan Investment Board lifted its position in Wells Fargo & Company by 37.7% during the third quarter. Canada Pension Plan Investment Board now owns 4,260,350 shares of the financial services provider’s stock worth $174,078,000 after purchasing an additional 1,166,000 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Down 0.1 %

Wells Fargo & Company stock traded down $0.08 during trading on Wednesday, hitting $60.86. 11,359,984 shares of the company were exchanged, compared to its average volume of 18,942,045. Wells Fargo & Company has a 52 week low of $36.40 and a 52 week high of $61.76. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The business’s 50 day moving average is $56.37 and its 200 day moving average is $49.26. The company has a market capitalization of $215.47 billion, a P/E ratio of 12.65, a PEG ratio of 1.18 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. The company had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. Wells Fargo & Company’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 earnings per share. Analysts predict that Wells Fargo & Company will post 5.06 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WFC. Odeon Capital Group downgraded shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price target for the company. in a report on Thursday, January 18th. Evercore ISI lifted their price target on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Citigroup reissued a “neutral” rating and issued a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. The Goldman Sachs Group upped their price target on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Thirteen equities research 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. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average price target 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.