WesBanco, Inc. (NASDAQ:WSBC) Shares Purchased by 1492 Capital Management LLC

1492 Capital Management LLC increased its stake in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 41.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,718 shares of the financial services provider's stock after purchasing an additional 18,813 shares during the period. 1492 Capital Management LLC owned 0.10% of WesBanco worth $1,973,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Proficio Capital Partners LLC acquired a new stake in WesBanco during the fourth quarter worth about $328,000. Raymond James Financial Inc. bought a new position in shares of WesBanco during the 4th quarter valued at $5,345,000. Swiss National Bank raised its holdings in WesBanco by 0.9% in the 4th quarter. Swiss National Bank now owns 117,145 shares of the financial services provider's stock worth $3,812,000 after acquiring an additional 1,100 shares during the period. Corient Private Wealth LLC boosted its position in shares of WesBanco by 4.4% during the 4th quarter. Corient Private Wealth LLC now owns 22,153 shares of the financial services provider's stock valued at $721,000 after acquiring an additional 935 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of WesBanco by 12.1% in the fourth quarter. American Century Companies Inc. now owns 136,516 shares of the financial services provider's stock worth $4,442,000 after acquiring an additional 14,777 shares during the last quarter. 61.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lowered their price objective 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. Royal Bank Of Canada decreased their price objective on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. Piper Sandler started coverage on WesBanco in a research note on Thursday, April 3rd. They set an "overweight" rating and a $37.00 price objective for the company. Finally, Raymond James Financial dropped their price target on WesBanco from $44.00 to $38.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $38.71.

WesBanco Price Performance

NASDAQ WSBC traded down $0.04 during trading hours on Friday, reaching $31.94. The company's stock had a trading volume of 553,462 shares, compared to its average volume of 642,046. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 20.88 and a beta of 0.85. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. The firm's 50-day moving average price is $31.67 and its 200-day moving average price is $31.87. WesBanco, Inc. has a 1 year low of $26.42 and a 1 year high of $37.36.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.66 EPS for the quarter, beating 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 return on equity of 6.07% and a net margin of 10.52%. During the same period last year, the business posted $0.56 earnings per share. On average, equities research analysts predict that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th were given a $0.37 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.48 dividend on an annualized basis and a yield of 4.63%. WesBanco's dividend payout ratio is currently 96.73%.

About WesBanco

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.