Free Trial

Emerald Mutual Fund Advisers Trust Takes $3.75 Million Position in WesBanco, Inc. (NASDAQ:WSBC)

WesBanco logo with Finance background

Emerald Mutual Fund Advisers Trust purchased a new position in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 121,022 shares of the financial services provider's stock, valued at approximately $3,747,000. Emerald Mutual Fund Advisers Trust owned about 0.18% of WesBanco at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on WSBC shares. Raymond James Financial lowered their price target on WesBanco from $44.00 to $38.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 2nd. Royal Bank Of Canada decreased their target price 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. Piper Sandler began coverage on WesBanco in a research note on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 target price for the company. Finally, Keefe, Bruyette & Woods reduced their price target on WesBanco from $43.00 to $40.00 and set an "outperform" rating on the stock in a research report on Monday, May 5th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.71.

Read Our Latest Analysis on WSBC

WesBanco Stock Down 1.1%

Shares of WesBanco stock traded down $0.37 during trading hours on Friday, hitting $32.97. 309,210 shares of the company's stock traded hands, compared to its average volume of 487,513. WesBanco, Inc. has a twelve month low of $26.42 and a twelve month high of $37.36. The company has a market cap of $3.15 billion, a PE ratio of 21.55 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. The stock has a 50 day simple moving average of $31.44 and a 200-day simple moving average of $31.87.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $206.63 million. During the same quarter in the previous year, the firm earned $0.56 earnings per share. Equities research analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders 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 dividend yield of 4.49%. 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.

See Also

Institutional Ownership by Quarter for WesBanco (NASDAQ:WSBC)

Should You Invest $1,000 in WesBanco Right Now?

Before you consider WesBanco, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and WesBanco wasn't on the list.

While WesBanco currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Energy Stocks to Buy and Hold Forever Cover

With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Hot Growth Stocks to Watch Right Now!
Don’t Miss These Top 3 Defense Stocks Set To Gain
Triple-Digit Gains: These 4 Nuclear Stocks Have Even More Upside Ahead

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines