Edgestream Partners L.P. Makes New $4.38 Million Investment in WesBanco, Inc. (NASDAQ:WSBC)

Edgestream Partners L.P. purchased 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 purchased 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in WSBC. CWM LLC raised its position in shares of WesBanco by 394.1% during the 1st quarter. CWM LLC now owns 12,401 shares of the financial services provider's stock valued at $384,000 after buying an additional 9,891 shares in the last quarter. Emerald Advisers LLC bought a new stake in shares of WesBanco during the 1st quarter valued at about $11,419,000. Arizona State Retirement System boosted its stake in shares of WesBanco by 48.2% during the 1st quarter. Arizona State Retirement System now owns 25,603 shares of the financial services provider's stock valued at $793,000 after purchasing an additional 8,323 shares in the last quarter. Emerald Mutual Fund Advisers Trust bought a new stake in WesBanco during the first quarter worth about $3,747,000. Finally, Xponance Inc. bought a new position in shares of WesBanco in the first quarter worth approximately $201,000. Institutional investors and hedge funds own 61.41% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on WSBC. 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. Royal Bank Of Canada lowered their price objective on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a research note on Thursday, May 1st. Raymond James Financial dropped their price objective 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. Finally, Piper Sandler assumed coverage on shares of WesBanco in a research report on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 price objective on the stock. Three 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $38.71.

WesBanco Trading Up 1.4%

NASDAQ WSBC traded up $0.45 on Thursday, reaching $32.62. The company had a trading volume of 271,760 shares, compared to its average volume of 489,822. The stock's 50 day moving average is $31.58 and its 200-day moving average is $31.85. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 21.32 and a beta of 0.85. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. WesBanco, Inc. has a 52 week low of $26.42 and a 52 week high of $37.36.

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

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were given a dividend of $0.37 per share. The ex-dividend date was Friday, June 6th. This represents a $1.48 annualized dividend and a yield of 4.54%. WesBanco's dividend payout ratio (DPR) is presently 96.73%.

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.