Bangor Savings Bank buys $2.7 Million stake in Wells Fargo & Co (WFC)

Wells Fargo & Co (WFC) : Bangor Savings Bank scooped up 318 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 26, 2016. The investment management firm now holds a total of 52,689 shares of Wells Fargo & Co which is valued at $2.7 Million.Wells Fargo & Co makes up approximately 0.66% of Bangor Savings Bank’s portfolio.

Other Hedge Funds, Including , Hodges Capital Management boosted its stake in WFC in the latest quarter, The investment management firm added 402 additional shares and now holds a total of 11,047 shares of Wells Fargo & Co which is valued at $561,740. Wells Fargo & Co makes up approx 0.03% of Hodges Capital Management’s portfolio.Mraz Amerine Associates boosted its stake in WFC in the latest quarter, The investment management firm added 23 additional shares and now holds a total of 27,017 shares of Wells Fargo & Co which is valued at $1.3 Million. Wells Fargo & Co makes up approx 0.47% of Mraz Amerine Associates’s portfolio.Brandywine Trust Co reduced its stake in WFC by selling 1,118 shares or 0.3% in the most recent quarter. The Hedge Fund company now holds 366,756 shares of WFC which is valued at $17.7 Million. Wells Fargo & Co makes up approx 12.13% of Brandywine Trust Co’s portfolio.Ashfield Capital Partners boosted its stake in WFC in the latest quarter, The investment management firm added 678 additional shares and now holds a total of 120,429 shares of Wells Fargo & Co which is valued at $5.8 Million. Wells Fargo & Co makes up approx 0.43% of Ashfield Capital Partners’s portfolio.Ironbridge Capital Management Lp boosted its stake in WFC in the latest quarter, The investment management firm added 653,822 additional shares and now holds a total of 682,485 shares of Wells Fargo & Co which is valued at $32.9 Million. Wells Fargo & Co makes up approx 1.32% of Ironbridge Capital Management Lp’s portfolio.

Wells Fargo & Co opened for trading at $50.26 and hit $51.04 on the upside on Wednesday, eventually ending the session at $51, with a gain of 0.55% or 0.28 points. The heightened volatility saw the trading volume jump to 1,67,74,325 shares. Company has a market cap of $258,929 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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