Ruane Cunniff Goldfarb Inc buys $253,112,825 stake in Wells Fargo & Co (WFC)

Wells Fargo & Co (WFC) : Ruane Cunniff Goldfarb Inc scooped up 5,150,302 additional shares in Wells Fargo & Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 15, 2016. The investment management firm now holds a total of 5,242,602 shares of Wells Fargo & Co which is valued at $253,112,825.Wells Fargo & Co makes up approximately 2.34% of Ruane Cunniff Goldfarb Inc’s portfolio.

Other Hedge Funds, Including , Bouchey Financial Group Ltd boosted its stake in WFC in the latest quarter, The investment management firm added 501 additional shares and now holds a total of 6,672 shares of Wells Fargo & Co which is valued at $322,124. Wells Fargo & Co makes up approx 0.12% of Bouchey Financial Group Ltd’s portfolio.Warren Averett Asset Management boosted its stake in WFC in the latest quarter, The investment management firm added 264 additional shares and now holds a total of 6,543 shares of Wells Fargo & Co which is valued at $315,831. Wells Fargo & Co makes up approx 0.14% of Warren Averett Asset Management’s portfolio.Gierl Augustine Investment Management Inc boosted its stake in WFC in the latest quarter, The investment management firm added 2,536 additional shares and now holds a total of 50,244 shares of Wells Fargo & Co which is valued at $2,425,278. Wells Fargo & Co makes up approx 2.55% of Gierl Augustine Investment Management Inc’s portfolio.Exxonmobil Investment Management Inc Tx boosted its stake in WFC in the latest quarter, The investment management firm added 71,107 additional shares and now holds a total of 1,195,917 shares of Wells Fargo & Co which is valued at $57,152,873. Wells Fargo & Co makes up approx 1.19% of Exxonmobil Investment Management Inc Tx’s portfolio.

Wells Fargo & Co opened for trading at $47.81 and hit $48.33 on the upside on Monday, eventually ending the session at $48.28, with a gain of 1.19% or 0.57 points. The heightened volatility saw the trading volume jump to 2,41,39,225 shares. Company has a market cap of $245,120 M.

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.

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