Cambridge Advisors buys $1,368,000 stake in Wells Fargo & Co (WFC)

Wells Fargo & Co (WFC) : Cambridge Advisors scooped up 102 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 26, 2016. The investment management firm now holds a total of 28,500 shares of Wells Fargo & Co which is valued at $1,368,000.Wells Fargo & Co makes up approximately 0.61% of Cambridge Advisors’s portfolio.

Other Hedge Funds, Including , Retirement Systems Of Alabama reduced its stake in WFC by selling 88,783 shares or 3.14% in the most recent quarter. The Hedge Fund company now holds 2,743,053 shares of WFC which is valued at $131,666,544. Wells Fargo & Co makes up approx 0.75% of Retirement Systems Of Alabama’s portfolio.Shell Asset Management Co boosted its stake in WFC in the latest quarter, The investment management firm added 65,953 additional shares and now holds a total of 897,605 shares of Wells Fargo & Co which is valued at $43,085,040. Wells Fargo & Co makes up approx 1.00% of Shell Asset Management Co’s portfolio.Gofen Glossberg Il boosted its stake in WFC in the latest quarter, The investment management firm added 21,895 additional shares and now holds a total of 376,938 shares of Wells Fargo & Co which is valued at $18,194,797. Wells Fargo & Co makes up approx 0.75% of Gofen Glossberg Il’s portfolio.Chevy Chase Trust Holdings boosted its stake in WFC in the latest quarter, The investment management firm added 51,723 additional shares and now holds a total of 4,001,993 shares of Wells Fargo & Co which is valued at $191,255,245. Wells Fargo & Co makes up approx 1.05% of Chevy Chase Trust Holdings’s portfolio.Iowa State Bank boosted its stake in WFC in the latest quarter, The investment management firm added 1,640 additional shares and now holds a total of 103,252 shares of Wells Fargo & Co which is valued at $4,934,413. Wells Fargo & Co makes up approx 2.50% of Iowa State Bank’s portfolio.

Wells Fargo & Co closed down -0.16 points or -0.33% at $47.97 with 1,31,11,673 shares getting traded on Friday. Post opening the session at $47.95, the shares hit an intraday low of $47.95 and an intraday high of $48.17 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 $1.01 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.

Investors should note that on Jul 26, 2016, Wells Fargo & Co announced a cash dividend of $0.3800. The company’s management has announced Aug 3, 2016 as the ex-dividend date and fixed the record date on Aug 5, 2016. The payable date has been fixed on Sep 1, 2016.

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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