Emerald Advisers LLC Purchases New Position in WesBanco, Inc. (NASDAQ:WSBC)

Emerald Advisers LLC bought a new stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 368,816 shares of the financial services provider's stock, valued at approximately $11,419,000. Emerald Advisers LLC owned 0.55% of WesBanco as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in WSBC. Opal Wealth Advisors LLC acquired a new position in WesBanco in the 1st quarter valued at $34,000. Creative Financial Designs Inc. ADV purchased a new position in WesBanco during the first quarter worth about $48,000. Sterling Capital Management LLC boosted its holdings in WesBanco by 807.0% in the 4th quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 1,614 shares in the last quarter. Quarry LP purchased a new stake in WesBanco in the 4th quarter valued at approximately $89,000. Finally, Amalgamated Bank increased its position in WesBanco by 46.0% during the 1st quarter. Amalgamated Bank now owns 2,959 shares of the financial services provider's stock worth $92,000 after purchasing an additional 932 shares during the period. 61.41% of the stock is owned by institutional investors and hedge funds.

WesBanco Price Performance

NASDAQ:WSBC traded up $0.15 during trading hours on Monday, reaching $33.12. 48,745 shares of the company's stock were exchanged, compared to its average volume of 486,723. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $3.17 billion, a P/E ratio of 21.63 and a beta of 0.85. WesBanco, Inc. has a 12 month low of $26.42 and a 12 month high of $37.36. The business's 50-day simple moving average is $31.44 and its two-hundred day simple moving average is $31.85.

WesBanco (NASDAQ:WSBC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.60 by $0.06. The business had revenue of $253.23 million during the quarter, compared to the consensus estimate of $206.63 million. WesBanco had a net margin of 10.52% and a return on equity of 6.07%. During the same quarter in the prior year, the firm earned $0.56 EPS. Sell-side analysts expect that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Dividend Announcement

The business also recently announced 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. The ex-dividend date was Friday, June 6th. This represents a $1.48 annualized dividend and a yield of 4.47%. WesBanco's dividend payout ratio (DPR) is currently 96.73%.

Analysts Set New Price Targets

WSBC has been the subject of several recent analyst reports. Piper Sandler initiated coverage on shares of WesBanco in a research note on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 price objective for the company. Raymond James Financial decreased their price target on WesBanco from $44.00 to $38.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 2nd. Royal Bank Of Canada dropped their price objective on WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a research note on Thursday, May 1st. Finally, Keefe, Bruyette & Woods reduced their price objective on WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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.