Msi Financial Services Inc Lowers stake in Wells Fargo & Co (WFC)

Wells Fargo & Co (WFC) : Msi Financial Services Inc reduced its stake in Wells Fargo & Co by 16.66% during the most recent quarter end. The investment management company now holds a total of 120,057 shares of Wells Fargo & Co which is valued at $5,372,551 after selling 24,001 shares in Wells Fargo & Co , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Wells Fargo & Co makes up approximately 0.19% of Msi Financial Services Inc’s portfolio.

Other Hedge Funds, Including , Nexus Investment Management reduced its stake in WFC by selling 3,375 shares or 11.15% in the most recent quarter. The Hedge Fund company now holds 26,900 shares of WFC which is valued at $1,222,605. Wells Fargo & Co makes up approx 0.23% of Nexus Investment Management’s portfolio.Chicago Trust Co Na reduced its stake in WFC by selling 1,476 shares or 2.22% in the most recent quarter. The Hedge Fund company now holds 65,110 shares of WFC which is valued at $2,959,250. Wells Fargo & Co makes up approx 1.36% of Chicago Trust Co Na’s portfolio. Randolph Co Inc sold out all of its stake in WFC during the most recent quarter. The investment firm sold 389,811 shares of WFC which is valued $17,670,133.Trust Co Of Oklahoma reduced its stake in WFC by selling 150 shares or 1.65% in the most recent quarter. The Hedge Fund company now holds 8,940 shares of WFC which is valued at $405,250. Wells Fargo & Co makes up approx 0.22% of Trust Co Of Oklahoma’s portfolio.

Wells Fargo & Co closed down -0.2 points or -0.44% at $45.45 with 2,54,42,608 shares getting traded on Tuesday. Post opening the session at $45.8, the shares hit an intraday low of $45.15 and an intraday high of $45.815 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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