D.A. Davidson & CO. bought a new stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 15,998 shares of the financial services provider's stock, valued at approximately $495,000.
A number of other hedge funds have also made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. raised its stake in shares of WesBanco by 258.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 39,232 shares of the financial services provider's stock worth $1,215,000 after purchasing an additional 28,302 shares in the last quarter. Keybank National Association OH bought a new position in WesBanco during the first quarter valued at approximately $2,108,000. Johnson Investment Counsel Inc. acquired a new stake in WesBanco in the fourth quarter valued at approximately $323,000. Nuveen Asset Management LLC grew its position in WesBanco by 13.4% in the fourth quarter. Nuveen Asset Management LLC now owns 492,167 shares of the financial services provider's stock worth $16,015,000 after acquiring an additional 58,214 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of 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 worth $50,022,000 after purchasing an additional 116,796 shares during the last quarter. 61.41% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
WSBC has been the subject of several analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a research note on Monday, May 5th. Piper Sandler began coverage on WesBanco in a research report on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 price target for the company. Royal Bank Of Canada lowered their price objective on WesBanco from $36.00 to $34.00 and set a "sector perform" rating on the stock in a report on Thursday, May 1st. Finally, Raymond James Financial reduced their target price on WesBanco from $44.00 to $38.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 2nd. Three investment 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's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $38.71.
Check Out Our Latest Analysis on WesBanco
WesBanco Stock Performance
NASDAQ:WSBC traded down $0.37 during trading hours on Friday, hitting $32.97. 309,210 shares of the company traded hands, compared to its average volume of 487,513. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.50. WesBanco, Inc. has a twelve month low of $26.42 and a twelve month high of $37.36. The firm has a 50-day moving average of $31.39 and a 200 day moving average of $31.87. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 21.55 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 for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $206.63 million. During the same quarter last year, the company earned $0.56 earnings per share. On average, analysts forecast that WesBanco, Inc. will post 3.24 EPS for the current year.
WesBanco Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend was Friday, June 6th. WesBanco's payout ratio is 96.73%.
About WesBanco
(
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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