WesBanco, Inc. $WSBC is EJF Capital LLC's Largest Position

Key Points

• EJF Capital LLC increased its shares in WesBanco, Inc. by 161.1%, acquiring an additional 117,447 shares during the 1st quarter, making WesBanco its largest position at 3.7% of its portfolio.
• WesBanco reported $0.91 earnings per share for the latest quarter, exceeding analyst expectations of $0.87, with a revenue of $260.73 million.
• The company has declared a quarterly dividend of $0.37, representing a 4.5% dividend yield, payable on October 1st, with an ex-dividend date of September 5th.

EJF Capital LLC raised its holdings in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 161.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 190,361 shares of the financial services provider's stock after acquiring an additional 117,447 shares during the quarter. WesBanco accounts for about 3.7% of EJF Capital LLC's portfolio, making the stock its biggest holding. EJF Capital LLC owned 0.28% of WesBanco worth $5,894,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Comerica Bank lifted its stake in WesBanco by 6.0% during the fourth quarter. Comerica Bank now owns 6,482 shares of the financial services provider's stock valued at $211,000 after buying an additional 368 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in WesBanco by 132.5% during the first quarter. Smartleaf Asset Management LLC now owns 895 shares of the financial services provider's stock valued at $28,000 after buying an additional 510 shares in the last quarter. Federated Hermes Inc. purchased a new stake in WesBanco during the first quarter valued at about $26,000. Amalgamated Bank lifted its stake in WesBanco by 46.0% during the first quarter. Amalgamated Bank now owns 2,959 shares of the financial services provider's stock valued at $92,000 after buying an additional 932 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in WesBanco by 4.3% during the first quarter. IFP Advisors Inc now owns 23,853 shares of the financial services provider's stock valued at $738,000 after buying an additional 980 shares in the last quarter. 61.41% of the stock is owned by hedge funds and other institutional investors.

WesBanco Trading Down 0.5%

WSBC stock traded down $0.15 during mid-day trading on Monday, reaching $32.13. 294,559 shares of the stock traded hands, compared to its average volume of 585,009. The stock's fifty day moving average is $31.93 and its 200-day moving average is $31.24. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.57. The company has a market cap of $3.08 billion, a P/E ratio of 19.36 and a beta of 0.85. 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 results on Tuesday, July 29th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. The business had revenue of $260.73 million during the quarter, compared to analyst estimates of $261.14 million. WesBanco had a net margin of 11.65% and a return on equity of 7.29%. During the same period in the prior year, the firm earned $0.49 earnings per share. As a group, sell-side analysts expect that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, September 5th. WesBanco's dividend payout ratio is 89.16%.

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.