Wells Fargo & Co (WFC) : Clinton Group Inc added new position in Wells Fargo & Co during the most recent quarter end. The investment management firm now holds 415,491 shares of Wells Fargo & Co which is valued at $22,112,431 , the company said in a statement filed on Nov 14, 2016 with the SEC.Wells Fargo & Co makes up approximately 1.02% of Clinton Group Inc’s portfolio.
Other Hedge Funds, Including , Jones Financial Companies Lllp boosted its stake in WFC in the latest quarter, The investment management firm added 10,537 additional shares and now holds a total of 281,843 shares of Wells Fargo & Co which is valued at $14,999,684. Wells Fargo & Co makes up approx 0.06% of Jones Financial Companies Lllp’s portfolio.Blackrock Advisors reduced its stake in WFC by selling 2,643,969 shares or 10.61% in the most recent quarter. The Hedge Fund company now holds 22,277,440 shares of WFC which is valued at $1,011,395,776. Wells Fargo & Co makes up approx 1.11% of Blackrock Advisors’s portfolio. Cornerstone Wealth Management added WFC to its portfolio by purchasing 5,185 company shares during the most recent quarter which is valued at $238,458. Wells Fargo & Co makes up approx 0.09% of Cornerstone Wealth Management’s portfolio.Foster Motley Inc reduced its stake in WFC by selling 12,836 shares or 7.75% in the most recent quarter. The Hedge Fund company now holds 152,853 shares of WFC which is valued at $7,032,767. Wells Fargo & Co makes up approx 1.39% of Foster Motley Inc’s portfolio.Mai Capital Management reduced its stake in WFC by selling 6,142 shares or 2.66% in the most recent quarter. The Hedge Fund company now holds 224,955 shares of WFC which is valued at $10,010,498. Wells Fargo & Co makes up approx 0.82% of Mai Capital Management’s portfolio.
Wells Fargo & Co opened for trading at $52.45 and hit $52.98 on the upside on Monday, eventually ending the session at $52.82, with a gain of 0.63% or 0.33 points. The heightened volatility saw the trading volume jump to 2,96,73,414 shares. Company has a market cap of $265,278 M.
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 Guggenheim to ” Sell” on Nov 15, 2016. Shares were Downgraded by FBR & Co. on Oct 19, 2016 to ” Mkt Perform” and Lowered the Price Target to $ 45 from a previous price target of $50 .Wells Fargo & Co was Downgraded by Keefe Bruyette to ” Mkt Perform” on Oct 17, 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.