Evergreen Capital Management LLC Purchases New Holdings in WesBanco, Inc. $WSBC

Key Points

• Evergreen Capital Management LLC acquired 18,239 shares of WesBanco, Inc. for approximately $571,000 in the first quarter of 2023.
• WesBanco recently declared a quarterly dividend of $0.37 per share, representing a 4.5% dividend yield and a payout ratio of 89.16%.
• Analysts have lowered their price target on WesBanco from $43.00 to $40.00 while maintaining an "outperform" rating.

Evergreen Capital Management LLC purchased a new stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 18,239 shares of the financial services provider's stock, valued at approximately $571,000.

A number of other institutional investors also recently modified their holdings of the company. Comerica Bank raised its position in shares of WesBanco by 6.0% in the fourth quarter. Comerica Bank now owns 6,482 shares of the financial services provider's stock valued at $211,000 after purchasing an additional 368 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of WesBanco by 132.5% in the first quarter. Smartleaf Asset Management LLC now owns 895 shares of the financial services provider's stock worth $28,000 after purchasing an additional 510 shares during the period. Federated Hermes Inc. bought a new position in shares of WesBanco in the first quarter worth about $26,000. Amalgamated Bank increased its stake in shares of WesBanco by 46.0% in the first quarter. Amalgamated Bank now owns 2,959 shares of the financial services provider's stock worth $92,000 after purchasing an additional 932 shares during the period. Finally, IFP Advisors Inc increased its stake in shares of WesBanco by 4.3% in the first quarter. IFP Advisors Inc now owns 23,853 shares of the financial services provider's stock worth $738,000 after purchasing an additional 980 shares during the period. Institutional investors own 61.41% of the company's stock.

WesBanco Stock Performance

Shares of WesBanco stock traded up $0.34 during trading on Thursday, reaching $32.99. The company's stock had a trading volume of 342,129 shares, compared to its average volume of 588,133. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.93 and a current ratio of 0.94. The business's fifty day moving average price is $31.89 and its 200-day moving average price is $31.36. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 19.87 and a beta of 0.85. WesBanco, Inc. has a one year low of $26.42 and a one year high of $37.36.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. The business had revenue of $260.73 million for the quarter, compared to analyst estimates of $261.14 million. WesBanco had a return on equity of 7.29% and a net margin of 11.65%.During the same period in the previous year, the company posted $0.49 earnings per share. As a group, equities research analysts predict that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.5%. The ex-dividend date is Friday, September 5th. WesBanco's payout ratio is currently 89.16%.

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.