39,303 Shares in WesBanco, Inc. (NASDAQ:WSBC) Purchased by Bfsg LLC

Bfsg LLC acquired a new position in WesBanco, Inc. (NASDAQ:WSBC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 39,303 shares of the financial services provider's stock, valued at approximately $1,217,000. Bfsg LLC owned 0.06% of WesBanco as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC purchased a new stake in shares of WesBanco during the 1st quarter worth approximately $34,000. Sterling Capital Management LLC grew its holdings in WesBanco by 807.0% during the fourth quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 1,614 shares during the period. Principal Securities Inc. increased its position in WesBanco by 40.9% in the fourth quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider's stock worth $68,000 after buying an additional 603 shares during the last quarter. Allworth Financial LP increased its position in WesBanco by 668.5% in the fourth quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider's stock worth $78,000 after buying an additional 2,146 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of WesBanco in the fourth quarter valued at $89,000. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on WSBC. Keefe, Bruyette & Woods cut their price target on WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a research note on Monday, May 5th. Raymond James Financial cut their target price on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 2nd. Royal Bank Of Canada lowered their price target 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. Finally, Piper Sandler assumed coverage on shares of WesBanco in a research note on Thursday, April 3rd. They set an "overweight" rating and a $37.00 price target on the stock. Three 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 stock. Based on data from MarketBeat, WesBanco currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.71.

WesBanco Price Performance

WSBC stock opened at $29.97 on Wednesday. The firm has a 50 day moving average of $30.25 and a 200-day moving average of $32.17. The firm has a market capitalization of $2.87 billion, a P/E ratio of 19.59 and a beta of 0.85. WesBanco, Inc. has a 12 month low of $26.09 and a 12 month high of $37.36. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.50.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.06. The business had revenue of $253.23 million for the quarter, compared to analysts' expectations of $206.63 million. WesBanco had a net margin of 10.52% and a return on equity of 6.07%. During the same period in the prior year, the company posted $0.56 EPS. As a group, sell-side analysts predict that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.94%. The ex-dividend date is Friday, June 6th. WesBanco's payout ratio is 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.

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