Cutter & CO Brokerage Inc. Sells 756 Shares of Wells Fargo & Company (NYSE:WFC)

Cutter & CO Brokerage Inc. reduced its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 13.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of WFC. Summit Global Investments increased its holdings in Wells Fargo & Company by 6.3% in the 3rd quarter. Summit Global Investments now owns 5,753 shares of the financial services provider’s stock valued at $235,000 after acquiring an additional 343 shares during the last quarter. Impact Partnership Wealth LLC bought a new position in shares of Wells Fargo & Company in the 3rd quarter valued at about $34,000. Avior Wealth Management LLC increased its stake in Wells Fargo & Company by 1.3% during the third quarter. Avior Wealth Management LLC now owns 50,498 shares of the financial services provider’s stock worth $2,063,000 after acquiring an additional 657 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Wells Fargo & Company by 12.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 3,754 shares of the financial services provider’s stock valued at $153,000 after purchasing an additional 424 shares during the last quarter. Finally, Boston Trust Walden Corp raised its stake in shares of 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 valued at $593,000 after acquiring an additional 1,000 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on WFC shares. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $51.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Citigroup restated a “neutral” rating and issued a $63.00 price target (up from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Morgan Stanley upped their target price on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $62.00 target price (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Thirteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $58.85.

Wells Fargo & Company Stock Down 0.1 %

WFC traded down $0.08 on Wednesday, reaching $60.86. The company’s stock had a trading volume of 11,359,984 shares, compared to its average volume of 18,942,045. The stock has a market cap of $215.47 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. The business’s 50 day moving average is $56.37 and its 200 day moving average is $49.26. 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 has a 1 year low of $36.40 and a 1 year high of $61.76.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data 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. The firm 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 previous year, the company earned $1.23 earnings per share. As a group, research analysts forecast that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

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.