Pzena Investment Management Has Increased Wells Fargo Co (WFC) Holding By $26.72 Million; Bank of America (BAC) SI Increased By 12.13%

December 7, 2017 - By Kurt Siggers

Pzena Investment Management Llc increased Wells Fargo Co (WFC) stake by 47.76% reported in 2017Q2 SEC filing. Pzena Investment Management Llc acquired 485,833 shares as Wells Fargo Co (WFC)’s stock declined 8.66%. The Pzena Investment Management Llc holds 1.50 million shares with $83.29 million value, up from 1.02M last quarter. Wells Fargo Co now has $288.41B valuation. The stock increased 0.03% or $0.02 during the last trading session, reaching $58.57. About 26.76 million shares traded or 46.29% up from the average. Wells Fargo & Company (NYSE:WFC) has risen 9.67% since December 7, 2016 and is uptrending. It has underperformed by 7.03% the S&P500.

Bank of America Corporation (NYSE:BAC) had an increase of 12.13% in short interest. BAC’s SI was 128.02 million shares in December as released by FINRA. Its up 12.13% from 114.18 million shares previously. With 64.28M avg volume, 2 days are for Bank of America Corporation (NYSE:BAC)’s short sellers to cover BAC’s short positions. The SI to Bank of America Corporation’s float is 1.22%. The stock decreased 1.00% or $0.29 during the last trading session, reaching $28.64. About 74.59 million shares traded or 7.69% up from the average. Bank of America Corporation (NYSE:BAC) has risen 58.64% since December 7, 2016 and is uptrending. It has outperformed by 41.94% the S&P500.

Investors sentiment decreased to 1.12 in 2017 Q2. Its down 0.03, from 1.15 in 2017Q1. It is negative, as 79 investors sold Bank of America Corporation shares while 543 reduced holdings. 120 funds opened positions while 577 raised stakes. 6.34 billion shares or 0.73% less from 6.39 billion shares in 2017Q1 were reported. Conning accumulated 305,179 shares. Amica Pension Fund Board Of Trustees owns 231,736 shares. Pzena Mngmt Limited Co has 20.49M shares for 2.72% of their portfolio. Becker invested in 16,158 shares. Highbridge Ltd Liability Co invested 0.15% of its portfolio in Bank of America Corporation (NYSE:BAC). Mount Vernon Assoc Inc Md reported 3.81% stake. Tcw Gp accumulated 100,000 shares. Fagan Assocs holds 229,079 shares. Glenmede Na has 455,014 shares for 0.05% of their portfolio. South State Corporation has invested 1.18% of its portfolio in Bank of America Corporation (NYSE:BAC). Bremer National Association invested in 0.07% or 10,041 shares. The Massachusetts-based Boston Advisors Lc has invested 0.87% in Bank of America Corporation (NYSE:BAC). Wilbanks Smith & Thomas Asset Mgmt Lc reported 40,718 shares. Thompson Davis And invested 1.75% in Bank of America Corporation (NYSE:BAC). Empirical Fincl Svcs Ltd Com reported 0.1% in Bank of America Corporation (NYSE:BAC).

Bank of America Corporation, through its subsidiaries, provides banking and financial services and products for individual consumers, small and middle-market businesses, institutional investors, large firms, and governments worldwide. The company has market cap of $298.73 billion. It operates through four divisions: Consumer Banking, Global Wealth & Investment Management, Global Banking, and Global Markets. It has a 16.39 P/E ratio. The Consumer Banking segment offers traditional and money market savings accounts, CDs and IRAs, noninterest- and interest-bearing checking accounts, and investment accounts and products, as well as credit and debit cards, residential mortgages and home equity loans, and direct and indirect loans.

Among 31 analysts covering Bank of America (NYSE:BAC), 21 have Buy rating, 0 Sell and 10 Hold. Therefore 68% are positive. Bank of America had 95 analyst reports since July 21, 2015 according to SRatingsIntel. Berenberg downgraded Bank of America Corporation (NYSE:BAC) on Monday, April 24 to “Hold” rating. The firm has “Buy” rating by Nomura given on Tuesday, July 18. As per Tuesday, December 5, the company rating was maintained by Raymond James. As per Monday, May 16, the company rating was downgraded by Keefe Bruyette & Woods. Wells Fargo maintained the stock with “Outperform” rating in Thursday, August 10 report. The stock has “Buy” rating by Robert W. Baird on Tuesday, September 1. The firm has “Buy” rating given on Friday, October 13 by RBC Capital Markets. The company was maintained on Wednesday, April 5 by RBC Capital Markets. The stock of Bank of America Corporation (NYSE:BAC) has “Outperform” rating given on Friday, April 7 by Wood. Deutsche Bank maintained it with “Buy” rating and $17 target in Tuesday, January 26 report.

Investors sentiment increased to 0.88 in 2017 Q2. Its up 0.12, from 0.76 in 2017Q1. It increased, as 85 investors sold WFC shares while 685 reduced holdings. 110 funds opened positions while 566 raised stakes. 3.66 billion shares or 1.73% less from 3.73 billion shares in 2017Q1 were reported. Ghp Inv Advsr Incorporated has invested 0.22% in Wells Fargo & Company (NYSE:WFC). Bright Rock Capital Mgmt has 156,000 shares for 2.55% of their portfolio. American Beacon Inc has 0.79% invested in Wells Fargo & Company (NYSE:WFC) for 1,112 shares. Canandaigua Commercial Bank Tru Company invested in 0.63% or 55,181 shares. Paloma Partners reported 244,603 shares or 0.16% of all its holdings. Argent Tru Comm invested in 39,713 shares. Bridges Invest Counsel invested in 1.42% or 112,722 shares. Ledyard Bank & Trust holds 13,090 shares or 0.1% of its portfolio. Moreover, Loring Wolcott Coolidge Fiduciary Advisors Llp Ma has 0.07% invested in Wells Fargo & Company (NYSE:WFC) for 67,967 shares. King Wealth Group Ltd Llc has invested 0.2% in Wells Fargo & Company (NYSE:WFC). 17,500 are held by Intact Inv Incorporated. Pineno Levin And Ford Asset reported 7,426 shares or 0.19% of all its holdings. Moreover, Usca Ria has 0.92% invested in Wells Fargo & Company (NYSE:WFC) for 130,104 shares. Moreover, Peak Asset Management Ltd has 2.04% invested in Wells Fargo & Company (NYSE:WFC) for 99,045 shares. Welch Forbes Limited Liability Corp invested 1.48% of its portfolio in Wells Fargo & Company (NYSE:WFC).

Among 32 analysts covering Wells Fargo & Company (NYSE:WFC), 13 have Buy rating, 5 Sell and 14 Hold. Therefore 41% are positive. Wells Fargo & Company had 103 analyst reports since July 29, 2015 according to SRatingsIntel. Vetr upgraded the shares of WFC in report on Wednesday, September 2 to “Strong-Buy” rating. Sandler O’Neill maintained Wells Fargo & Company (NYSE:WFC) on Wednesday, April 12 with “Hold” rating. The company was initiated on Wednesday, July 13 by Berenberg. The rating was upgraded by Susquehanna to “Positive” on Wednesday, January 20. UBS maintained Wells Fargo & Company (NYSE:WFC) on Thursday, September 15 with “Sell” rating. Robert W. Baird maintained it with “Buy” rating and $58.0 target in Friday, October 6 report. The stock has “Overweight” rating by Morgan Stanley on Tuesday, September 20. On Wednesday, April 12 the stock rating was maintained by Evercore with “Outperform”. As per Wednesday, July 29, the company rating was upgraded by Guggenheim. The firm has “Hold” rating given on Sunday, July 30 by BMO Capital Markets.

Since June 8, 2017, it had 0 insider purchases, and 1 sale for $1.34 million activity. On Thursday, June 8 Mack Mary T sold $2.05M worth of Wells Fargo & Company (NYSE:WFC) or 38,988 shares. Pelos Petros G sold $1.34 million worth of Wells Fargo & Company (NYSE:WFC) on Monday, June 12.

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By1 Kurt Siggers




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