Baird Financial Group Inc. Acquires 22,807 Shares of WesBanco, Inc. $WSBC

Key Points

• Baird Financial Group Inc. has increased its holdings in WesBanco, Inc. by 56.2%, now owning 63,392 shares worth approximately $1.96 million.
• WesBanco's recent quarterly earnings showed $0.91 EPS, beating the consensus estimate of $0.87, and the company reported a revenue of $260.73 million.
• The company will pay a quarterly dividend of $0.37 per share on October 1st, with a resulting annual yield of 4.6%.

Baird Financial Group Inc. increased its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 56.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 63,392 shares of the financial services provider's stock after purchasing an additional 22,807 shares during the period. Baird Financial Group Inc. owned 0.09% of WesBanco worth $1,963,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Comerica Bank grew its holdings in WesBanco by 6.0% during the fourth quarter. Comerica Bank now owns 6,482 shares of the financial services provider's stock worth $211,000 after purchasing an additional 368 shares during the period. Smartleaf Asset Management LLC grew its holdings in WesBanco by 132.5% during 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. acquired a new stake in WesBanco during the first quarter worth approximately $26,000. Amalgamated Bank lifted its position in WesBanco by 46.0% during the first quarter. Amalgamated Bank now owns 2,959 shares of the financial services provider's stock worth $92,000 after acquiring an additional 932 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in WesBanco by 4.3% during the first quarter. IFP Advisors Inc now owns 23,853 shares of the financial services provider's stock worth $738,000 after acquiring an additional 980 shares during the last quarter. Institutional investors own 61.41% of the company's stock.

WesBanco Trading Down 2.2%

Shares of WSBC stock opened at $32.28 on Monday. The firm has a 50 day moving average price of $31.93 and a two-hundred day moving average price of $31.24. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $3.10 billion, a PE ratio of 19.45 and a beta of 0.85. WesBanco, Inc. has a 12-month low of $26.42 and a 12-month high of $37.36.

WesBanco (NASDAQ:WSBC - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $260.73 million during the quarter, compared to the consensus estimate of $261.14 million. WesBanco had a net margin of 11.65% and a return on equity of 7.29%. During the same period last year, the business posted $0.49 earnings per share. As a group, analysts predict that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, September 5th. This represents a $1.48 annualized dividend and a yield of 4.6%. WesBanco's dividend payout ratio (DPR) is 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.

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