Cobiz Investment Management Lowers stake in Wells Fargo & Co (WFC)

Wells Fargo & Co (WFC) : Cobiz Investment Management reduced its stake in Wells Fargo & Co by 3.01% during the most recent quarter end. The investment management company now holds a total of 162,640 shares of Wells Fargo & Co which is valued at $8,128,747 after selling 5,041 shares in Wells Fargo & Co , the firm said in a disclosure report filed with the SEC on Apr 26, 2016.Wells Fargo & Co makes up approximately 1.98% of Cobiz Investment Management’s portfolio.

Wells Fargo & Co opened for trading at $50.28 and hit $50.7 on the upside on Monday, eventually ending the session at $50.59, with a gain of 1.22% or 0.61 points. The heightened volatility saw the trading volume jump to 1,47,80,296 shares. Company has a market cap of $256,831 M.

Other Hedge Funds, Including , Granite Investment Advisors added WFC to its portfolio by purchasing 108,370 company shares during the most recent quarter which is valued at $5,416,333. Wells Fargo & Co makes up approx 1.08% of Granite Investment Advisors’s portfolio.Alpha Omega Wealth Management boosted its stake in WFC in the latest quarter, The investment management firm added 504 additional shares and now holds a total of 2,380 shares of Wells Fargo & Co which is valued at $120,476. Wells Fargo & Co makes up approx 0.10% of Alpha Omega Wealth Management’s portfolio.Somerset Group reduced its stake in WFC by selling 2,625 shares or 3.46% in the most recent quarter. The Hedge Fund company now holds 73,297 shares of WFC which is valued at $3,710,294. Wells Fargo & Co makes up approx 3.89% of Somerset Group’s portfolio.Monroe Bank Trustmi boosted its stake in WFC in the latest quarter, The investment management firm added 105 additional shares and now holds a total of 21,400 shares of Wells Fargo & Co which is valued at $1,032,550. Wells Fargo & Co makes up approx 0.35% of Monroe Bank Trustmi’s portfolio.

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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