Pennsylvania Trust Co Lowers stake in Wells Fargo & Co (WFC)

Wells Fargo & Co (WFC) : Pennsylvania Trust Co reduced its stake in Wells Fargo & Co by 2.54% during the most recent quarter end. The investment management company now holds a total of 337,427 shares of Wells Fargo & Co which is valued at $16,402,326 after selling 8,781 shares in Wells Fargo & Co , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Wells Fargo & Co makes up approximately 1.29% of Pennsylvania Trust Co’s portfolio.

Other Hedge Funds, Including , Howard Capital Management boosted its stake in WFC in the latest quarter, The investment management firm added 3,260 additional shares and now holds a total of 162,242 shares of Wells Fargo & Co which is valued at $7,886,584. Wells Fargo & Co makes up approx 1.46% of Howard Capital Management’s portfolio. Premier Asset Managment added WFC to its portfolio by purchasing 6,750 company shares during the most recent quarter which is valued at $328,118. Wells Fargo & Co makes up approx 0.08% of Premier Asset Managment’s portfolio.Pure Financial Advisors boosted its stake in WFC in the latest quarter, The investment management firm added 190 additional shares and now holds a total of 6,959 shares of Wells Fargo & Co which is valued at $335,911. Wells Fargo & Co makes up approx 0.11% of Pure Financial Advisors’s portfolio.Private Asset Management Inc boosted its stake in WFC in the latest quarter, The investment management firm added 93 additional shares and now holds a total of 146,455 shares of Wells Fargo & Co which is valued at $6,999,084. Wells Fargo & Co makes up approx 1.22% of Private Asset Management Inc’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in WFC by selling 2,308,808 shares or 55.59% in the most recent quarter. The Hedge Fund company now holds 1,844,832 shares of WFC which is valued at $88,164,521. Wells Fargo & Co makes up approx 0.39% of Bnp Paribas Arbitrage Sa’s portfolio.

Wells Fargo & Co opened for trading at $48.59 and hit $48.69 on the upside on Wednesday, eventually ending the session at $48.61, with a gain of 0.50% or 0.24 points. The heightened volatility saw the trading volume jump to 1,65,69,909 shares. Company has a market cap of $246,795 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. 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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