WesBanco, Inc. (NASDAQ:WSBC) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE grew its holdings in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 8.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,537,252 shares of the financial services provider's stock after acquiring an additional 116,796 shares during the period. Bank of America Corp DE owned about 2.30% of WesBanco worth $50,022,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in WSBC. Barclays PLC boosted its holdings in shares of WesBanco by 151.1% in the 3rd quarter. Barclays PLC now owns 181,325 shares of the financial services provider's stock valued at $5,399,000 after acquiring an additional 109,104 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of WesBanco in the 3rd quarter valued at $1,148,000. JPMorgan Chase & Co. lifted its stake in shares of WesBanco by 17.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 232,568 shares of the financial services provider's stock valued at $6,926,000 after purchasing an additional 34,008 shares during the period. Moody National Bank Trust Division lifted its stake in shares of WesBanco by 33.0% in the 4th quarter. Moody National Bank Trust Division now owns 29,872 shares of the financial services provider's stock valued at $972,000 after purchasing an additional 7,405 shares during the period. Finally, Roble Belko & Company Inc acquired a new position in shares of WesBanco in the 4th quarter valued at $78,000. 61.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WSBC has been the subject of several analyst reports. Piper Sandler initiated coverage on shares of WesBanco in a research note on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 target price for the company. Keefe, Bruyette & Woods decreased their target price on shares of WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a research note on Monday, May 5th. DA Davidson boosted their target price on shares of WesBanco from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Stephens reiterated an "equal weight" rating and issued a $39.00 target price on shares of WesBanco in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada decreased their target price on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a research note on Thursday, May 1st. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $38.71.

WesBanco Price Performance

NASDAQ:WSBC traded down $0.06 during trading hours on Monday, reaching $32.07. 331,968 shares of the company were exchanged, compared to its average volume of 438,991. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The stock's 50-day moving average is $30.12 and its 200-day moving average is $32.79. The firm has a market cap of $2.15 billion, a PE ratio of 14.32 and a beta of 0.81. WesBanco, Inc. has a twelve month low of $25.56 and a twelve month high of $37.36.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.06. The company had revenue of $253.23 million during the quarter, compared to analysts' expectations of $206.63 million. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. During the same period in the prior year, the business posted $0.56 earnings per share. On average, sell-side analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date was Monday, March 10th. WesBanco's dividend payout ratio is presently 96.73%.

WesBanco Profile

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, mortgage banking, and insurance services to individuals and businesses in the United States. The company operates through two segments, Community Banking, and Trust and Investment Services.