Cwm LLC Raises Stock Holdings in WesBanco, Inc. (NASDAQ:WSBC)

Key Points

• Cwm LLC increased its stake in WesBanco, Inc. by 394.1%, now owning 12,401 shares valued at $384,000.
• WesBanco reported quarterly earnings of $0.66 per share, surpassing analysts' expectations, with revenue of $253.23 million for the quarter.
• The company declared a quarterly dividend of $0.37 per share, providing a 4.63% dividend yield with a payout ratio of 96.73%.

Cwm LLC boosted its stake in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 394.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 12,401 shares of the financial services provider's stock after buying an additional 9,891 shares during the period. Cwm LLC's holdings in WesBanco were worth $384,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in WesBanco by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 6,710,539 shares of the financial services provider's stock valued at $218,361,000 after buying an additional 705,483 shares during the period. Earnest Partners LLC raised its holdings in WesBanco by 27.1% during the 4th quarter. Earnest Partners LLC now owns 1,777,002 shares of the financial services provider's stock valued at $57,824,000 after buying an additional 379,386 shares during the period. Bank of America Corp DE raised its holdings in WesBanco by 8.2% during 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 period. Geode Capital Management LLC raised its holdings in WesBanco by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 1,502,057 shares of the financial services provider's stock valued at $48,888,000 after buying an additional 82,987 shares during the period. Finally, Northern Trust Corp grew its position in WesBanco by 2.3% in the 4th quarter. Northern Trust Corp now owns 763,720 shares of the financial services provider's stock valued at $24,851,000 after acquiring an additional 16,997 shares during the last quarter. Hedge funds and other institutional investors own 61.41% of the company's stock.

WesBanco Price Performance

WSBC opened at $31.94 on Friday. WesBanco, Inc. has a 12-month low of $26.42 and a 12-month high of $37.36. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.50. The business's fifty day simple moving average is $31.67 and its 200-day simple moving average is $31.87. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 20.88 and a beta of 0.85.

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

WesBanco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend was Friday, June 6th. WesBanco's payout ratio is 96.73%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Keefe, Bruyette & Woods cut their price objective on WesBanco from $43.00 to $40.00 and set an "outperform" rating on the stock in a research report on Monday, May 5th. Piper Sandler assumed coverage on WesBanco in a research report on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 price objective on the stock. Royal Bank Of Canada cut their price objective on WesBanco from $36.00 to $34.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. Finally, Raymond James Financial cut their price objective on WesBanco from $44.00 to $38.00 and set a "strong-buy" rating on the stock in a research 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 issued a strong buy rating to the company. According to MarketBeat, WesBanco presently has a consensus rating of "Moderate Buy" and an average price target 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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