Connable Office Inc buys $3,545,881 stake in Wells Fargo & Co (WFC)

Wells Fargo & Co (WFC) : Connable Office Inc scooped up 5,236 additional shares in Wells Fargo & Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 9, 2016. The investment management firm now holds a total of 73,505 shares of Wells Fargo & Co which is valued at $3,545,881.Wells Fargo & Co makes up approximately 0.98% of Connable Office Inc’s portfolio.

Other Hedge Funds, Including , Essex Investment Management Co reduced its stake in WFC by selling 33,366 shares or 59.49% in the most recent quarter. The Hedge Fund company now holds 22,719 shares of WFC which is valued at $1,095,965. Wells Fargo & Co makes up approx 0.19% of Essex Investment Management Co’s portfolio. Scott Selber sold out all of its stake in WFC during the most recent quarter. The investment firm sold 39,992 shares of WFC which is valued $1,960,408.Security National Trust Co boosted its stake in WFC in the latest quarter, The investment management firm added 585 additional shares and now holds a total of 37,567 shares of Wells Fargo & Co which is valued at $1,877,599. Wells Fargo & Co makes up approx 0.70% of Security National Trust Co’s portfolio.Commonwealth Equity Services Inc boosted its stake in WFC in the latest quarter, The investment management firm added 70,012 additional shares and now holds a total of 813,050 shares of Wells Fargo & Co which is valued at $40,636,239. Wells Fargo & Co makes up approx 0.36% of Commonwealth Equity Services Inc’s portfolio.Kanawha Capital Management boosted its stake in WFC in the latest quarter, The investment management firm added 1,928 additional shares and now holds a total of 221,289 shares of Wells Fargo & Co which is valued at $11,060,024. Wells Fargo & Co makes up approx 1.89% of Kanawha Capital Management’s portfolio.

Wells Fargo & Co closed down -0.96 points or -1.95% at $48.24 with 2,52,51,741 shares getting traded on Friday. Post opening the session at $49.1, the shares hit an intraday low of $48.21 and an intraday high of $49.43 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Wells Fargo & Co reported $0.99 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 14, 2016. Analyst had a consensus of $0.98. The company had revenue of $22195.00 million for the quarter, compared to analysts expectations of $21524.59 million. The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS.

Many Wall Street Analysts have commented on Wells Fargo & Co. Wells Fargo & Co was Downgraded by Piper Jaffray to ” Underweight” on Apr 15, 2016. Wells Fargo & Co was Downgraded by Sandler O’Neill to ” Hold” on Apr 11, 2016. Wells Fargo & Co was Downgraded by Guggenheim to ” Neutral” on Apr 6, 2016.

Wells Fargo & Company is a financial services and bank holding company. The Company’s segments are Community Banking Wholesale Banking and Wealth and Brokerage and Retirement. The Company’s Community Banking segment offers a range of financial products and services for consumers and small businesses including checking and savings accounts credit and debit cards and auto student and small business lending. The Community Banking segment’s products include investment insurance and trust services and mortgage and home equity loans. The Community Banking segment’s products and business segments include middle market commercial banking government and institutional banking corporate banking and commercial real estate among others. The Company’s Wholesale Banking segment provides a range of financial solutions to businesses across the United States and around the world. The Wealth and Brokerage and Retirement segment provides a range of financial advisory services.

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