Atlantic Union Bankshares Corp Grows Stock Holdings in WesBanco, Inc. (NASDAQ:WSBC)

Atlantic Union Bankshares Corp grew its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 157.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,904 shares of the financial services provider's stock after buying an additional 9,733 shares during the quarter. Atlantic Union Bankshares Corp's holdings in WesBanco were worth $492,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in WSBC. Opal Wealth Advisors LLC acquired a new position in WesBanco during the first quarter worth about $34,000. Creative Financial Designs Inc. ADV acquired a new position in shares of WesBanco in the 1st quarter valued at $48,000. Sterling Capital Management LLC boosted its stake in WesBanco by 807.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider's stock worth $59,000 after purchasing an additional 1,614 shares during the period. Quarry LP acquired a new stake in WesBanco during the 4th quarter worth $89,000. Finally, Amalgamated Bank boosted its stake in WesBanco by 46.0% during the 1st 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. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

WesBanco Price Performance

WesBanco stock opened at $32.85 on Monday. The stock has a 50-day moving average price of $31.66 and a two-hundred day moving average price of $31.85. WesBanco, Inc. has a 12 month low of $26.42 and a 12 month high of $37.36. The company has a market capitalization of $3.14 billion, a PE ratio of 21.47 and a beta of 0.85. 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 announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.06. WesBanco had a return on equity of 6.07% and a net margin of 10.52%. The company had revenue of $253.23 million during the quarter, compared to analysts' expectations of $206.63 million. During the same period in the previous year, the business earned $0.56 earnings per share. Analysts expect that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, June 6th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.51%. WesBanco's dividend payout ratio (DPR) is 96.73%.

Wall Street Analysts Forecast Growth

WSBC has been the subject of several recent research reports. Keefe, Bruyette & Woods dropped their target price on shares of WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a report on Monday, May 5th. Royal Bank Of Canada lowered their target price on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a research note on Thursday, May 1st. Piper Sandler initiated coverage on shares of WesBanco in a research report on Thursday, April 3rd. They set an "overweight" rating and a $37.00 price target for the company. Finally, Raymond James Financial reduced their price objective on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $38.71.

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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