Wells Fargo & Co (WFC) Revenue Growth Grinds To A Halt

$383.92 million worth of Wells Fargo & Co (NYSE:WFC) was sold by BERKSHIRE HATHAWAY INC.

Several other institutional investors have also modified their holdings of the stock. $2.05M worth of Wells Fargo & Co (NYSE:WFC) shares were sold by Mack Mary T. 20,000 shares were sold by Hardison Hope A., worth $1.04M. The Cambridge Trust Company holds 46,336 shares with $2.55 million value, down from 58,724 last quarter. Wallace Management Inc stated it has 0.08% in Wells Fargo & Co (NYSE:WFC). Loomis Sayles And Ltd Partnership holds 0.4% of its portfolio in Wells Fargo & Co (NYSE:WFC) for 2.98 million shares.

Wells beat earnings expectations last quarter but missed slightly on revenue. Mckinley Carter Wealth Svcs Inc has invested 0.32% of its portfolio in Wells Fargo & Co (NYSE:WFC). Aviva PLC now owns 3,567,763 shares of the financial services provider's stock valued at $196,691,000 after buying an additional 105,712 shares in the last quarter.

Quantres Asset Management Ltd increased Eqt Corp (NYSE:EQT) stake by 32,400 shares to 36,900 valued at $2.41 million in 2016Q4.

Want to see what other hedge funds are holding WFC? Jefferies maintained Wells Fargo & Co (NYSE:WFC) on Friday, July 7 with "Hold" rating. Wells Fargo & Company has $67 highest and $44 lowest target. The company's 50-day moving average is $53.07 and its 200 day moving average is $55.18. Tiaa Cref Investment Management Llc who had been investing in Wells Fargo & Co for a number of months, seems to be bullish on the $278.51 billion market cap company.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Thursday, April 13th. The financial services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.97 by $0.03. Wells Fargo & Co had a net margin of 25.22% and a return on equity of 11.55%.

The bank's efficiency ratio, which measures expenses as a percentage of revenue, was 61.1 per cent, compared with an estimate of 60.2 per cent from Credit Suisse analyst Susan Katzke. The Company's Hospital Products business makes sterile intravenous solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products. After $1.00 actual EPS reported by Wells Fargo & Co for the previous quarter, Wall Street now forecasts 4.00% EPS growth.

TRADEMARK VIOLATION WARNING: This article was first reported by Community Financial News and is the property of of Community Financial News. If you are reading this report on another domain, it was illegally copied and republished in violation of United States & worldwide trademark and copyright law. The correct version of this article can be viewed at https://www.com-unik.info/2017/07/14/wells-fargo-company-wfc-position-maintained-by-supplemental-annuity-collective-trust-of-nj-updated.html. Vetr raised shares of Wells Fargo & Company from a "sell" rating to a "hold" rating and set a $55.28 price target on the stock in a research report on Tuesday, March 21st. Fincl Bank Of America De invested in 14,005 shares.

Wells Fargo & Co WFC.N , the third-biggest USA bank by assets, also reported on Friday. Zacks Investment Research upgraded Wells Fargo & Co from a "sell" rating to a "hold" rating in a report on Monday. Baystate Wealth Management LLC now owns 3,460 shares of the financial services provider's stock valued at $184,000 after buying an additional 1,926 shares in the last quarter. Following the transaction, the director now owns 81 shares in the company, valued at approximately $4,467.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

In related news, CEO Timothy J. Sloan purchased 39,000 shares of the firm's stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $54.21, for a total value of $5,421,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 106,392 shares of company stock worth $5,526,822 and sold 231,278 shares worth $12,361,120. The fund owned 11,276 shares of the financial services provider's stock after selling 26,273 shares during the period. Wells Fargo & Company had 74 analyst reports since July 29, 2015 according to SRatingsIntel. The Firm is a diversified financial services company.