AQR Capital Management LLC Has $9.86 Million Holdings in WesBanco, Inc. $WSBC

Key Points

• AQR Capital Management LLC increased its holdings in WesBanco, Inc. by 77.7%, owning 318,486 shares valued at approximately $9.86 million.
• WesBanco announced a quarterly dividend of $0.37 per share, resulting in an annualized yield of 4.6% and a payout ratio of 89.16%.
• The company's latest earnings report indicated an EPS of $0.91, surpassing expectations, with revenue of $260.73 million for the quarter.

AQR Capital Management LLC boosted its stake in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 77.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 318,486 shares of the financial services provider's stock after buying an additional 139,209 shares during the period. AQR Capital Management LLC owned about 0.48% of WesBanco worth $9,860,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WSBC. The Manufacturers Life Insurance Company grew its stake in WesBanco by 10.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 33,639 shares of the financial services provider's stock valued at $1,095,000 after acquiring an additional 3,270 shares in the last quarter. Comerica Bank boosted its stake in shares of WesBanco by 6.0% during the 4th quarter. Comerica Bank now owns 6,482 shares of the financial services provider's stock worth $211,000 after acquiring an additional 368 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in WesBanco by 5.5% during the fourth quarter. Ameriprise Financial Inc. now owns 75,949 shares of the financial services provider's stock valued at $2,472,000 after purchasing an additional 3,944 shares during the last quarter. Bank of America Corp DE grew its stake in WesBanco by 8.2% in the 4th quarter. Bank of America Corp DE now owns 1,537,252 shares of the financial services provider's stock valued at $50,022,000 after buying an additional 116,796 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of WesBanco by 36.7% in the fourth quarter. Captrust Financial Advisors now owns 14,158 shares of the financial services provider's stock worth $461,000 after purchasing an additional 3,803 shares during the period. 61.41% of the stock is owned by hedge funds and other institutional investors.

WesBanco Price Performance

NASDAQ WSBC traded down $0.44 during trading hours on Tuesday, reaching $30.91. 397,924 shares of the company's stock were exchanged, compared to its average volume of 378,861. WesBanco, Inc. has a one year low of $26.42 and a one year high of $37.36. The stock has a market cap of $2.97 billion, a PE ratio of 18.62 and a beta of 0.85. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.57. The firm has a fifty day moving average of $31.72 and a 200-day moving average of $31.09.

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

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, September 5th. WesBanco's dividend payout ratio (DPR) is 89.16%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of WesBanco from a "hold" rating to a "buy" rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $38.83.

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.