Gulf International Bank (uk) Ltd Lowers stake in Wells Fargo & Co (WFC)

Wells Fargo & Co (WFC) : Gulf International Bank (uk) Ltd reduced its stake in Wells Fargo & Co by 0.04% during the most recent quarter end. The investment management company now holds a total of 1,455,429 shares of Wells Fargo & Co which is valued at $70,253,558 after selling 600 shares in Wells Fargo & Co , the firm said in a disclosure report filed with the SEC on Jul 11, 2016.Wells Fargo & Co makes up approximately 1.15% of Gulf International Bank (uk) Ltd’s portfolio.

Other Hedge Funds, Including , Firstmerit Bank N A Trustee reduced its stake in WFC by selling 11,752 shares or 4.92% in the most recent quarter. The Hedge Fund company now holds 227,207 shares of WFC which is valued at $10,967,282. Wells Fargo & Co makes up approx 0.87% of Firstmerit Bank N A Trustee’s portfolio.Chevy Chase Trust Holdings boosted its stake in WFC in the latest quarter, The investment management firm added 51,723 additional shares and now holds a total of 4,001,993 shares of Wells Fargo & Co which is valued at $191,255,245. Wells Fargo & Co makes up approx 1.05% of Chevy Chase Trust Holdings’s portfolio.Washington Trust Bank boosted its stake in WFC in the latest quarter, The investment management firm added 884 additional shares and now holds a total of 69,902 shares of Wells Fargo & Co which is valued at $3,340,617. Wells Fargo & Co makes up approx 0.86% of Washington Trust Bank’s portfolio.Rosenbaum Jay D. boosted its stake in WFC in the latest quarter, The investment management firm added 2,824 additional shares and now holds a total of 9,129 shares of Wells Fargo & Co which is valued at $436,275. Wells Fargo & Co makes up approx 0.06% of Rosenbaum Jay D.’s portfolio.Baxter Bros Inc boosted its stake in WFC in the latest quarter, The investment management firm added 17,764 additional shares and now holds a total of 181,939 shares of Wells Fargo & Co which is valued at $8,694,865. Wells Fargo & Co makes up approx 2.71% of Baxter Bros Inc’s portfolio.

Wells Fargo & Co closed down -0.08 points or -0.17% at $48.27 with 1,43,89,624 shares getting traded on Wednesday. Post opening the session at $48.31, the shares hit an intraday low of $47.98 and an intraday high of $48.47 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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. Berenberg Initiated Wells Fargo & Co on Jul 13, 2016 to “Hold”, Price Target of the shares are set at $45.Wells Fargo & Co was Downgraded by Raymond James to ” Mkt Perform” on Jul 7, 2016. Wells Fargo & Co was Downgraded by Piper Jaffray to ” Underweight” on Apr 15, 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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