Bank of New Hampshire Sells 295 Shares of Wells Fargo & Company (NYSE:WFC)

Bank of New Hampshire decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 19.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,220 shares of the financial services provider’s stock after selling 295 shares during the period. Bank of New Hampshire’s holdings in Wells Fargo & Company were worth $88,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new position in Wells Fargo & Company during the 4th quarter worth $26,000. Investment Counsel Co. of Nevada bought a new position in shares of Wells Fargo & Company in the fourth quarter worth $28,000. BNP Paribas bought a new position in shares of Wells Fargo & Company in the fourth quarter worth $28,000. Rakuten Securities Inc. increased its position in shares of Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 237 shares during the period. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Wells Fargo & Company in the fourth quarter worth $30,000. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Barclays decreased their price target on Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Piper Sandler restated an “overweight” rating and issued a $85.00 price target (up previously from $75.00) on shares of Wells Fargo & Company in a research report on Wednesday, June 4th. Truist Financial decreased their price target on Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. decreased their price target on Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Finally, TD Cowen assumed coverage on Wells Fargo & Company in a research report on Thursday, May 15th. They issued a “hold” rating and a $83.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.48.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $76.38 on Monday. The business’s 50-day moving average price is $70.42 and its 200-day moving average price is $72.95. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The firm has a market capitalization of $248.55 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.18 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. During the same period last year, the firm posted $1.20 earnings per share. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. Equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company announced that its Board of Directors has approved a share buyback plan on Tuesday, April 29th that permits the company to buyback $40.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 17.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Friday, May 9th. Wells Fargo & Company’s payout ratio is 28.73%.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.