Boston Partners Acquires New Holdings in WesBanco, Inc. $WSBC

Key Points

• Boston Partners has made a new investment in WesBanco, acquiring 54,600 shares worth approximately $1.69 million, representing about 0.08% of the company's stock.
• WesBanco's latest earnings report showed $0.91 earnings per share, surpassing the consensus estimate of $0.87, with revenue reported at $260.73 million.
• The company has announced a quarterly dividend of $0.37 per share, with an annualized dividend yield of 4.8%.

Boston Partners bought a new stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 54,600 shares of the financial services provider's stock, valued at approximately $1,690,000. Boston Partners owned 0.08% of WesBanco at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new stake in WesBanco during the 1st quarter worth $26,000. Opal Wealth Advisors LLC acquired a new position in WesBanco during the 1st quarter worth $34,000. Creative Financial Designs Inc. ADV acquired a new position in WesBanco during the 1st quarter worth $48,000. Caitong International Asset Management Co. Ltd grew its holdings in WesBanco by 573.1% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,878 shares of the financial services provider's stock worth $58,000 after acquiring an additional 1,599 shares in the last quarter. Finally, Sterling Capital Management LLC grew its holdings 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 acquiring an additional 1,614 shares in the last quarter. Hedge funds and other institutional investors own 61.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WSBC. Royal Bank Of Canada decreased their price objective on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. Keefe, Bruyette & Woods decreased their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.83.

WesBanco Stock Performance

Shares of NASDAQ WSBC traded up $1.6250 during midday trading on Friday, hitting $32.8150. The company's stock had a trading volume of 100,937 shares, compared to its average volume of 597,347. WesBanco, Inc. has a 1-year low of $26.42 and a 1-year high of $37.36. The firm's fifty day moving average price is $31.50 and its 200-day moving average price is $31.57. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a market cap of $3.15 billion, a P/E ratio of 19.79 and a beta of 0.87.

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 for the quarter, beating the consensus estimate of $0.87 by $0.04. The firm had revenue of $260.73 million for 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 firm posted $0.49 EPS. On average, sell-side analysts forecast that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

About WesBanco

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.