Bank of New York Mellon Corp Grows Holdings in WesBanco, Inc. (NASDAQ:WSBC)

Bank of New York Mellon Corp increased its position in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 29.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 749,178 shares of the financial services provider's stock after acquiring an additional 171,826 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.12% of WesBanco worth $23,195,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of WSBC. Proficio Capital Partners LLC purchased a new position in WesBanco during the fourth quarter worth approximately $328,000. Raymond James Financial Inc. purchased a new position in WesBanco during the fourth quarter worth approximately $5,345,000. Swiss National Bank raised its stake in WesBanco by 0.9% during the fourth quarter. Swiss National Bank now owns 117,145 shares of the financial services provider's stock worth $3,812,000 after purchasing an additional 1,100 shares during the period. Corient Private Wealth LLC raised its stake in WesBanco by 4.4% during the fourth quarter. Corient Private Wealth LLC now owns 22,153 shares of the financial services provider's stock worth $721,000 after purchasing an additional 935 shares during the period. Finally, American Century Companies Inc. raised its stake in WesBanco by 12.1% during the fourth quarter. American Century Companies Inc. now owns 136,516 shares of the financial services provider's stock worth $4,442,000 after purchasing an additional 14,777 shares during the period. Hedge funds and other institutional investors own 61.41% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. 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. Keefe, Bruyette & Woods cut their price target on shares of WesBanco from $43.00 to $40.00 and set an "outperform" rating on the stock in a research note on Monday, May 5th. Royal Bank Of Canada cut 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 note on Thursday, May 1st. Finally, Raymond James Financial cut their target price on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $38.71.

WesBanco Trading Up 0.2%

Shares of WSBC stock traded up $0.07 during mid-day trading on Friday, reaching $32.85. The company's stock had a trading volume of 1,996,006 shares, compared to its average volume of 498,274. The company's 50 day simple moving average is $31.61 and its 200-day simple moving average is $31.86. WesBanco, Inc. has a 12-month low of $26.42 and a 12-month high of $37.36. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $3.14 billion, a PE ratio of 21.47 and a beta of 0.85.

WesBanco (NASDAQ:WSBC - Get Free Report) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.06. WesBanco had a net margin of 10.52% and a return on equity of 6.07%. The business had revenue of $253.23 million for the quarter, compared to the consensus estimate of $206.63 million. During the same quarter last year, the firm posted $0.56 EPS. On average, research analysts predict that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Announces Dividend

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

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.