Stelac Advisory Services adds Wells Fargo & Co (WFC) to its portfolio

Wells Fargo & Co (WFC) : Stelac Advisory Services added new position in Wells Fargo & Co during the most recent quarter end. The investment management firm now holds 8,127 shares of Wells Fargo & Co which is valued at $386,601 , the company said in a statement filed on Aug 1, 2016 with the SEC.Wells Fargo & Co makes up approximately 0.11% of Stelac Advisory Services’s portfolio.

Other Hedge Funds, Including , Everence Capital Management Inc boosted its stake in WFC in the latest quarter, The investment management firm added 1,160 additional shares and now holds a total of 93,917 shares of Wells Fargo & Co which is valued at $4,467,632. Wells Fargo & Co makes up approx 1.33% of Everence Capital Management Inc’s portfolio.Destination Wealth Management boosted its stake in WFC in the latest quarter, The investment management firm added 3,382 additional shares and now holds a total of 9,138 shares of Wells Fargo & Co which is valued at $438,624. Wells Fargo & Co makes up approx 0.04% of Destination Wealth Management’s portfolio.Financial Architects Inc boosted its stake in WFC in the latest quarter, The investment management firm added 99,201 additional shares and now holds a total of 114,589 shares of Wells Fargo & Co which is valued at $5,500,272. Wells Fargo & Co makes up approx 1.51% of Financial Architects Inc’s portfolio.Stock Yards Bank Trust Co boosted its stake in WFC in the latest quarter, The investment management firm added 1,494 additional shares and now holds a total of 27,486 shares of Wells Fargo & Co which is valued at $1,270,128. Wells Fargo & Co makes up approx 0.17% of Stock Yards Bank Trust Co’s portfolio.

Wells Fargo & Co opened for trading at $47.6 and hit $48 on the upside on Thursday, eventually ending the session at $47.84, with a gain of 0.57% or 0.27 points. The heightened volatility saw the trading volume jump to 1,46,62,635 shares. Company has a market cap of $242,886 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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