D.A. Davidson & CO. acquired a new stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,998 shares of the financial services provider's stock, valued at approximately $495,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of WesBanco by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 6,710,539 shares of the financial services provider's stock worth $218,361,000 after buying an additional 705,483 shares during the last quarter. Earnest Partners LLC grew its position in WesBanco by 27.1% in the fourth quarter. Earnest Partners LLC now owns 1,777,002 shares of the financial services provider's stock worth $57,824,000 after acquiring an additional 379,386 shares during the period. Barclays PLC increased its stake in WesBanco by 104.8% during the fourth quarter. Barclays PLC now owns 371,347 shares of the financial services provider's stock worth $12,084,000 after acquiring an additional 190,022 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in WesBanco in the fourth quarter valued at $5,345,000. Finally, Segall Bryant & Hamill LLC lifted its stake in shares of WesBanco by 25.2% in the 4th quarter. Segall Bryant & Hamill LLC now owns 780,444 shares of the financial services provider's stock valued at $25,396,000 after purchasing an additional 156,903 shares during the last quarter. 61.41% of the stock is currently owned by institutional investors and hedge funds.
WesBanco Stock Up 1.3%
Shares of WSBC traded up $0.44 during mid-day trading on Monday, hitting $33.41. 302,845 shares of the company's stock were exchanged, compared to its average volume of 487,706. The stock's 50-day moving average is $31.44 and its 200-day moving average is $31.85. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.91 and a current ratio of 0.93. WesBanco, Inc. has a fifty-two week low of $26.42 and a fifty-two week high of $37.36. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 21.84 and a beta of 0.85.
WesBanco (NASDAQ:WSBC - Get Free Report) last released its 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. The company had revenue of $253.23 million for the quarter, compared to analyst estimates of $206.63 million. WesBanco had a net margin of 10.52% and a return on equity of 6.07%. During the same period in the prior year, the business earned $0.56 EPS. On average, sell-side analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.
WesBanco Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were issued a $0.37 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.48 dividend on an annualized basis and a yield of 4.43%. WesBanco's dividend payout ratio (DPR) is presently 96.73%.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Royal Bank Of Canada reduced their price objective on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating on the stock in a report on Thursday, May 1st. Raymond James Financial reduced their price target 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. Keefe, Bruyette & Woods lowered their price objective on shares of WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a research report on Monday, May 5th. Finally, Piper Sandler assumed coverage on shares of WesBanco in a report on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $38.71.
Read Our Latest Stock Analysis on WSBC
WesBanco Company Profile
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Free Report)
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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