Picton Mahoney Asset Management Purchases New Position in WesBanco, Inc. (NASDAQ:WSBC)

Picton Mahoney Asset Management acquired a new position in WesBanco, Inc. (NASDAQ:WSBC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 34,722 shares of the financial services provider's stock, valued at approximately $1,074,000. Picton Mahoney Asset Management owned 0.05% of WesBanco at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WSBC. Cambridge Investment Research Advisors Inc. lifted its position in shares of WesBanco by 258.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 39,232 shares of the financial services provider's stock valued at $1,215,000 after buying an additional 28,302 shares in the last quarter. Envestnet Asset Management Inc. raised its position in WesBanco by 7.1% during the first quarter. Envestnet Asset Management Inc. now owns 258,682 shares of the financial services provider's stock worth $8,009,000 after acquiring an additional 17,172 shares during the period. Keybank National Association OH purchased a new position in WesBanco during the first quarter valued at $2,108,000. Nuveen Asset Management LLC lifted its holdings in WesBanco by 13.4% during the fourth quarter. Nuveen Asset Management LLC now owns 492,167 shares of the financial services provider's stock valued at $16,015,000 after purchasing an additional 58,214 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of WesBanco in the first quarter valued at about $1,123,000. Hedge funds and other institutional investors own 61.41% of the company's stock.

WesBanco Price Performance

Shares of NASDAQ:WSBC traded down $0.62 during midday trading on Friday, hitting $29.51. The company's stock had a trading volume of 765,116 shares, compared to its average volume of 609,957. The company has a market cap of $2.82 billion, a P/E ratio of 17.78 and a beta of 0.87. WesBanco, Inc. has a 12-month low of $26.42 and a 12-month high of $37.36. The business's 50 day simple moving average is $31.64 and its 200 day simple moving average is $31.86. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.91 and a current ratio of 0.93.

WesBanco (NASDAQ:WSBC - Get Free Report) last issued its earnings results on Tuesday, July 29th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. WesBanco had a return on equity of 7.72% and a net margin of 11.65%. The company had revenue of $260.73 million during the quarter, compared to analysts' expectations of $261.14 million. During the same period in the prior year, the business earned $0.49 EPS. On average, analysts forecast that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 5.0%. The ex-dividend date was Friday, June 6th. WesBanco's dividend payout ratio (DPR) is presently 89.16%.

Analysts Set New Price Targets

Several research analysts recently weighed in on WSBC shares. Royal Bank Of Canada reduced their price target on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. Keefe, Bruyette & Woods cut their price objective on WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a research note on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $38.83.

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.