Sadoff Investment Management Exits Position in Wells Fargo & Co (WFC)

Wells Fargo & Co (WFC) : Sadoff Investment Management has sold out all of its stake in Wells Fargo & Co during the most recent quarter, according to the disclosure filed by the company on Oct 7, 2016 with the SEC. The investment management company has sold out 4,430 shares of Wells Fargo & Co which is valued at $200,812.

Other Hedge Funds, Including , Summit Financial Wealth Advisors boosted its stake in WFC in the latest quarter, The investment management firm added 14,601 additional shares and now holds a total of 38,408 shares of Wells Fargo & Co which is valued at $1,727,976. Wells Fargo & Co makes up approx 0.76% of Summit Financial Wealth Advisors’s portfolio.Curbstone Financial Management Corp boosted its stake in WFC in the latest quarter, The investment management firm added 3,400 additional shares and now holds a total of 39,750 shares of Wells Fargo & Co which is valued at $1,788,353. Wells Fargo & Co makes up approx 0.58% of Curbstone Financial Management Corp’s portfolio.Lynch Associatesin boosted its stake in WFC in the latest quarter, The investment management firm added 583 additional shares and now holds a total of 101,123 shares of Wells Fargo & Co which is valued at $4,549,524. Wells Fargo & Co makes up approx 2.01% of Lynch Associatesin’s portfolio.Washington Trust Bank boosted its stake in WFC in the latest quarter, The investment management firm added 1,082 additional shares and now holds a total of 70,984 shares of Wells Fargo & Co which is valued at $3,193,570. Wells Fargo & Co makes up approx 0.77% of Washington Trust Bank’s portfolio.

Wells Fargo & Co opened for trading at $45.2 and hit $45.45 on the upside on Friday, eventually ending the session at $45.33, with a gain of 0.33% or 0.15 points. The heightened volatility saw the trading volume jump to 2,48,93,588 shares. Company has a market cap of $228,715 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. Wells Fargo & Co was Downgraded by Raymond James to ” Underperform” on Oct 4, 2016. Shares were Reiterated by FBR & Co. on Sep 27, 2016 to “Outperform” and Lowered the Price Target to $ 50 from a previous price target of $63 .Wells Fargo & Co was Downgraded by JP Morgan to ” Neutral” on Sep 21, 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.

Leave a Reply

Wells Fargo & Co - Is it time to Sell?

Top Brokerage Firms are advising their investors on Wells Fargo & Co. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.