Spirit Of America Management Corpny buys $619,502 stake in Wells Fargo & Co (WFC)

Wells Fargo & Co (WFC) : Spirit Of America Management Corpny scooped up 1,300 additional shares in Wells Fargo & Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 14, 2016. The investment management firm now holds a total of 13,856 shares of Wells Fargo & Co which is valued at $619,502.Wells Fargo & Co makes up approximately 0.08% of Spirit Of America Management Corpny’s portfolio.

Other Hedge Funds, Including , Callahan Advisors reduced its stake in WFC by selling 43,438 shares or 27.52% in the most recent quarter. The Hedge Fund company now holds 114,382 shares of WFC which is valued at $5,114,019. Wells Fargo & Co makes up approx 1.30% of Callahan Advisors’s portfolio.Private Bank Trust Co reduced its stake in WFC by selling 5,165 shares or 9.26% in the most recent quarter. The Hedge Fund company now holds 50,586 shares of WFC which is valued at $2,263,724. Wells Fargo & Co makes up approx 0.35% of Private Bank Trust Co’s portfolio.Murphy Pohlad Asset Management reduced its stake in WFC by selling 1,420 shares or 3.73% in the most recent quarter. The Hedge Fund company now holds 36,640 shares of WFC which is valued at $1,639,640. Wells Fargo & Co makes up approx 1.24% of Murphy Pohlad Asset Management’s portfolio.Canal Capital Management boosted its stake in WFC in the latest quarter, The investment management firm added 21,961 additional shares and now holds a total of 30,684 shares of Wells Fargo & Co which is valued at $1,400,725. Wells Fargo & Co makes up approx 1.30% of Canal Capital Management’s portfolio.Fisher Asset Management reduced its stake in WFC by selling 765,508 shares or 4.04% in the most recent quarter. The Hedge Fund company now holds 18,189,837 shares of WFC which is valued at $830,366,059. Wells Fargo & Co makes up approx 1.53% of Fisher Asset Management’s portfolio.

Wells Fargo & Co closed down -0.04 points or -0.09% at $44.71 with 4,54,18,598 shares getting traded on Friday. Post opening the session at $45.17, the shares hit an intraday low of $44.315 and an intraday high of $45.52 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Wells Fargo & Co reported $1.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Oct 14, 2016. Analyst had a consensus of $1.01. The company had revenue of $22328.00 million for the quarter, compared to analysts expectations of $22062.98 million. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 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.

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