Schwerin Boyle Capital Management Inc Lowers stake in Wells Fargo & Co (WFC)

Wells Fargo & Co (WFC) : Schwerin Boyle Capital Management Inc reduced its stake in Wells Fargo & Co by 0.58% during the most recent quarter end. The investment management company now holds a total of 723,156 shares of Wells Fargo & Co which is valued at $34.9 Million after selling 4,243 shares in Wells Fargo & Co , the firm said in a disclosure report filed with the SEC on May 13, 2016.Wells Fargo & Co makes up approximately 4.97% of Schwerin Boyle Capital Management Inc’s portfolio.

Other Hedge Funds, Including , First Niagara Bank reduced its stake in WFC by selling 297 shares or 0.4% in the most recent quarter. The Hedge Fund company now holds 73,645 shares of WFC which is valued at $3.6 Million. Wells Fargo & Co makes up approx 1.04% of First Niagara Bank’s portfolio.Aston Asset Management reduced its stake in WFC by selling 771 shares or 1.41% in the most recent quarter. The Hedge Fund company now holds 53,752 shares of WFC which is valued at $2.6 Million. Wells Fargo & Co makes up approx 1.58% of Aston Asset Management’s portfolio.Connable Office Inc boosted its stake in WFC in the latest quarter, The investment management firm added 5,236 additional shares and now holds a total of 73,505 shares of Wells Fargo & Co which is valued at $3.5 Million. Wells Fargo & Co makes up approx 0.98% of Connable Office Inc’s portfolio.Harbour Investment Management boosted its stake in WFC in the latest quarter, The investment management firm added 5,770 additional shares and now holds a total of 35,255 shares of Wells Fargo & Co which is valued at $1.7 Million. Wells Fargo & Co makes up approx 1.32% of Harbour Investment Management’s portfolio.Buckingham Asset Management boosted its stake in WFC in the latest quarter, The investment management firm added 8,961 additional shares and now holds a total of 32,906 shares of Wells Fargo & Co which is valued at $1.6 Million. Wells Fargo & Co makes up approx 0.53% of Buckingham Asset Management’s portfolio.

Wells Fargo & Co opened for trading at $49.58 and hit $50.83 on the upside on Wednesday, eventually ending the session at $50.5, with a gain of 2.64% or 1.3 points. The heightened volatility saw the trading volume jump to 2,24,82,141 shares. Company has a market cap of $256,391 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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