Catawba Capital Management Va Lowers stake in Wells Fargo & Co (WFC)

Wells Fargo & Co (WFC) : Catawba Capital Management Va reduced its stake in Wells Fargo & Co by 2.49% during the most recent quarter end. The investment management company now holds a total of 102,922 shares of Wells Fargo & Co which is valued at $4,665,454 after selling 2,623 shares in Wells Fargo & Co , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Wells Fargo & Co makes up approximately 1.12% of Catawba Capital Management Va’s portfolio.

Other Hedge Funds, Including , Exxonmobil Investment Management Inc Tx reduced its stake in WFC by selling 36,439 shares or 3.05% in the most recent quarter. The Hedge Fund company now holds 1,159,478 shares of WFC which is valued at $52,559,138. Wells Fargo & Co makes up approx 1.10% of Exxonmobil Investment Management Inc Tx’s portfolio.Cardinal Capital Management boosted its stake in WFC in the latest quarter, The investment management firm added 6,158 additional shares and now holds a total of 238,228 shares of Wells Fargo & Co which is valued at $10,717,878. Wells Fargo & Co makes up approx 1.22% of Cardinal Capital Management’s portfolio. First National Bank Of Mount Dora Trust Investment Services sold out all of its stake in WFC during the most recent quarter. The investment firm sold 72,597 shares of WFC which is valued $3,266,139.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.West Oak Capital boosted its stake in WFC in the latest quarter, The investment management firm added 550 additional shares and now holds a total of 39,934 shares of Wells Fargo & Co which is valued at $1,796,631. Wells Fargo & Co makes up approx 1.24% of West Oak Capital’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.

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