First Mercantile Trust Co buys $2,312,147 stake in Wells Fargo & Co (WFC)

Wells Fargo & Co (WFC) : First Mercantile Trust Co scooped up 2,141 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 7, 2016. The investment management firm now holds a total of 51,007 shares of Wells Fargo & Co which is valued at $2,312,147.Wells Fargo & Co makes up approximately 0.31% of First Mercantile Trust Co’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.New England Research Management boosted its stake in WFC in the latest quarter, The investment management firm added 3,050 additional shares and now holds a total of 46,447 shares of Wells Fargo & Co which is valued at $2,089,651. Wells Fargo & Co makes up approx 1.76% of New England Research Management’s portfolio.Stillwater Investment Management boosted its stake in WFC in the latest quarter, The investment management firm added 867 additional shares and now holds a total of 48,540 shares of Wells Fargo & Co which is valued at $2,183,815. Wells Fargo & Co makes up approx 1.19% of Stillwater Investment Management’s portfolio.Independent Portfolio Consultants boosted its stake in WFC in the latest quarter, The investment management firm added 1,395 additional shares and now holds a total of 37,036 shares of Wells Fargo & Co which is valued at $1,666,250. Wells Fargo & Co makes up approx 0.52% of Independent Portfolio Consultants’s portfolio.Bath Savings Trust Co boosted its stake in WFC in the latest quarter, The investment management firm added 898 additional shares and now holds a total of 6,556 shares of Wells Fargo & Co which is valued at $294,954. Wells Fargo & Co makes up approx 0.09% of Bath Savings Trust Co’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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