Edgestream Partners L.P. Buys Shares of 141,445 WesBanco, Inc. (NASDAQ:WSBC)

Edgestream Partners L.P. bought a new stake in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 141,445 shares of the financial services provider's stock, valued at approximately $4,379,000. Edgestream Partners L.P. owned about 0.21% of WesBanco as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of WSBC. Charles Schwab Investment Management Inc. lifted its holdings in WesBanco by 6.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 872,035 shares of the financial services provider's stock worth $28,376,000 after buying an additional 50,704 shares during the period. Proficio Capital Partners LLC purchased a new position in WesBanco in the 4th quarter worth $328,000. Raymond James Financial Inc. purchased a new position in WesBanco in the 4th quarter worth $5,345,000. Swiss National Bank raised its stake in WesBanco by 0.9% in the 4th quarter. Swiss National Bank now owns 117,145 shares of the financial services provider's stock worth $3,812,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Corient Private Wealth LLC raised its stake in WesBanco by 4.4% in the 4th quarter. Corient Private Wealth LLC now owns 22,153 shares of the financial services provider's stock worth $721,000 after acquiring an additional 935 shares during the last quarter. Institutional investors own 61.41% of the company's stock.

WesBanco Stock Performance

WSBC traded up $0.07 during 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 499,493. WesBanco, Inc. has a 52-week low of $26.42 and a 52-week high of $37.36. The company's fifty day moving average price is $31.66 and its 200-day moving average price is $31.86. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 21.47 and a beta of 0.85. 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 (NASDAQ:WSBC - Get Free Report) last issued its quarterly 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 return on equity of 6.07% and a net margin of 10.52%. The company had revenue of $253.23 million during the quarter, compared to the consensus estimate of $206.63 million. During the same period in the previous year, the firm posted $0.56 EPS. On average, equities analysts forecast that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.48 annualized dividend and a yield of 4.51%. WesBanco's dividend payout ratio (DPR) is 96.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on WSBC shares. Piper Sandler started coverage on WesBanco in a report on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 price target for the company. Keefe, Bruyette & Woods dropped their price target on WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a research report on Monday, May 5th. Raymond James Financial dropped their price target on WesBanco from $44.00 to $38.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 2nd. Finally, Royal Bank Of Canada dropped their price target on WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $38.71.

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.