Wells Fargo & Co (WFC) : Independence Trust Co reduced its stake in Wells Fargo & Co by 0.07% during the most recent quarter end. The investment management company now holds a total of 61,202 shares of Wells Fargo & Co which is valued at $2,957,281 after selling 45 shares in Wells Fargo & Co , the firm said in a disclosure report filed with the SEC on Jul 22, 2016.Wells Fargo & Co makes up approximately 4.42% of Independence Trust Co’s portfolio.
Other Hedge Funds, Including , Mountain Pacific Investment Advisers Incid reduced its stake in WFC by selling 1,350 shares or 1.1% in the most recent quarter. The Hedge Fund company now holds 121,645 shares of WFC which is valued at $5,877,886. Wells Fargo & Co makes up approx 0.64% of Mountain Pacific Investment Advisers Incid’s portfolio.Osborne Partners Capital Management reduced its stake in WFC by selling 1,340 shares or 0.25% in the most recent quarter. The Hedge Fund company now holds 525,304 shares of WFC which is valued at $25,535,027. Wells Fargo & Co makes up approx 3.68% of Osborne Partners Capital Management’s portfolio.Leavell Investment Management reduced its stake in WFC by selling 3,584 shares or 3.44% in the most recent quarter. The Hedge Fund company now holds 100,452 shares of WFC which is valued at $4,882,972. Wells Fargo & Co makes up approx 0.70% of Leavell Investment Management’s portfolio.Sentinel Trust Co Lba reduced its stake in WFC by selling 1,098 shares or 2.28% in the most recent quarter. The Hedge Fund company now holds 47,037 shares of WFC which is valued at $2,286,469. Wells Fargo & Co makes up approx 0.32% of Sentinel Trust Co Lba’s portfolio.Ferguson Wellman Capital Management Inc reduced its stake in WFC by selling 5,715 shares or 5.01% in the most recent quarter. The Hedge Fund company now holds 108,367 shares of WFC which is valued at $5,231,959. Wells Fargo & Co makes up approx 0.21% of Ferguson Wellman Capital Management Inc’s portfolio.
Wells Fargo & Co closed down -0.16 points or -0.33% at $47.97 with 1,31,11,673 shares getting traded on Friday. Post opening the session at $47.95, the shares hit an intraday low of $47.95 and an intraday high of $48.17 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 $1.01 EPS for the quarter, based on the information available during the earnings call on Jul 15, 2016. Analyst had a consensus estimate of $1.01. The company had revenue of $22162.00 million for the quarter, compared to analysts expectations of $22091.72 million. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS.
Many Wall Street Analysts have commented on Wells Fargo & Co. Shares were Reiterated by RBC Capital Mkts on Jul 18, 2016 to “Outperform” and Lowered the Price Target to $ 54 from a previous price target of $57 .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 & 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.