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

Bank of America Corp DE increased its stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 8.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,537,252 shares of the financial services provider's stock after purchasing an additional 116,796 shares during the period. Bank of America Corp DE owned 2.30% of WesBanco worth $50,022,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Sterling Capital Management LLC lifted its stake in WesBanco by 807.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider's stock valued at $59,000 after acquiring an additional 1,614 shares during the period. Principal Securities Inc. lifted its stake in WesBanco by 40.9% during the 4th quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider's stock valued at $68,000 after acquiring an additional 603 shares during the period. Allworth Financial LP lifted its stake in WesBanco by 668.5% during the 4th quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider's stock valued at $78,000 after acquiring an additional 2,146 shares during the period. Roble Belko & Company Inc acquired a new stake in WesBanco during the 4th quarter valued at approximately $78,000. Finally, Quarry LP acquired a new stake in WesBanco during the 4th quarter valued at approximately $89,000. 61.41% of the stock is currently owned by institutional investors and hedge funds.

WesBanco Price Performance

Shares of WesBanco stock traded down $0.20 during trading hours on Friday, reaching $32.13. 561,339 shares of the company's stock were exchanged, compared to its average volume of 438,207. WesBanco, Inc. has a 1 year low of $25.56 and a 1 year high of $37.36. The company has a market capitalization of $2.15 billion, a P/E ratio of 14.34 and a beta of 0.81. The business has a fifty day moving average of $30.10 and a two-hundred day moving average of $32.77. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55.

WesBanco (NASDAQ:WSBC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.06. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. The firm had revenue of $253.23 million for the quarter, compared to analysts' expectations of $206.63 million. During the same quarter in the previous year, the company posted $0.56 EPS. As a group, research analysts predict that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

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

Wall Street Analysts Forecast Growth

WSBC has been the subject of several recent research reports. DA Davidson lifted their target price on shares of WesBanco from $44.00 to $45.00 and gave the company a "buy" rating in a report on Monday, January 27th. Raymond James cut their price target on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 2nd. Stephens reissued an "equal weight" rating and issued a $39.00 price target on shares of WesBanco in a report on Thursday, January 23rd. StockNews.com raised shares of WesBanco from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. Finally, Keefe, Bruyette & Woods cut their price target on shares of WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a report on Monday, May 5th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $38.71.

WesBanco Company 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.