Ariel Capital Advisors buys $3,169,486 stake in Wells Fargo & Co (WFC)

Wells Fargo & Co (WFC) : Ariel Capital Advisors scooped up 160 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 3, 2016. The investment management firm now holds a total of 64,657 shares of Wells Fargo & Co which is valued at $3,169,486.Wells Fargo & Co makes up approximately 2.77% of Ariel Capital Advisors’s portfolio.

Other Hedge Funds, Including , Richard Bernstein Advisors boosted its stake in WFC in the latest quarter, The investment management firm added 9,249 additional shares and now holds a total of 177,536 shares of Wells Fargo & Co which is valued at $8,702,815. Wells Fargo & Co makes up approx 0.86% of Richard Bernstein Advisors’s portfolio.Goodwin Daniel L boosted its stake in WFC in the latest quarter, The investment management firm added 10,000 additional shares and now holds a total of 30,000 shares of Wells Fargo & Co which is valued at $1,499,400. Wells Fargo & Co makes up approx 0.50% of Goodwin Daniel L’s portfolio.Clarivest Asset Management reduced its stake in WFC by selling 3,279 shares or 30.0% in the most recent quarter. The Hedge Fund company now holds 7,651 shares of WFC which is valued at $382,397. Wells Fargo & Co makes up approx 0.01% of Clarivest Asset Management’s portfolio.Cornerstone Advisors boosted its stake in WFC in the latest quarter, The investment management firm added 775 additional shares and now holds a total of 10,657 shares of Wells Fargo & Co which is valued at $539,457. Wells Fargo & Co makes up approx 0.56% of Cornerstone Advisors’s portfolio.First Citizens Bank Trust Co reduced its stake in WFC by selling 141,743 shares or 36.71% in the most recent quarter. The Hedge Fund company now holds 244,420 shares of WFC which is valued at $12,372,540. Wells Fargo & Co makes up approx 1.02% of First Citizens Bank Trust Co’s portfolio.

Wells Fargo & Co opened for trading at $49 and hit $49.51 on the upside on Tuesday, eventually ending the session at $49.4, with a gain of 1.06% or 0.52 points. The heightened volatility saw the trading volume jump to 1,42,34,406 shares. Company has a market cap of $250,806 M.

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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