Emerald Mutual Fund Advisers Trust Purchases Shares of 121,022 WesBanco, Inc. (NASDAQ:WSBC)

Emerald Mutual Fund Advisers Trust bought a new stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 121,022 shares of the financial services provider's stock, valued at approximately $3,747,000. Emerald Mutual Fund Advisers Trust owned approximately 0.18% of WesBanco as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of WesBanco by 11.7% during the fourth quarter. Vanguard Group Inc. now owns 6,710,539 shares of the financial services provider's stock worth $218,361,000 after purchasing an additional 705,483 shares in the last quarter. Earnest Partners LLC lifted its position in WesBanco by 27.1% during the fourth quarter. Earnest Partners LLC now owns 1,777,002 shares of the financial services provider's stock valued at $57,824,000 after purchasing an additional 379,386 shares in the last quarter. Barclays PLC grew its holdings in WesBanco by 104.8% during the 4th quarter. Barclays PLC now owns 371,347 shares of the financial services provider's stock valued at $12,084,000 after buying an additional 190,022 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of WesBanco by 29.8% in the 1st quarter. Bank of New York Mellon Corp now owns 749,178 shares of the financial services provider's stock worth $23,195,000 after buying an additional 171,826 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of WesBanco during the fourth quarter valued at approximately $5,345,000. 61.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on WSBC. Piper Sandler started coverage on shares of WesBanco in a research report on Thursday, April 3rd. They set an "overweight" rating and a $37.00 price target for the company. Raymond James Financial reduced their price target on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 2nd. Royal Bank Of Canada decreased their price target on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. Finally, Keefe, Bruyette & Woods lowered their target price on shares of WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, WesBanco presently has an average rating of "Moderate Buy" and an average target price of $38.71.

WesBanco Stock Down 3.7%

Shares of NASDAQ:WSBC traded down $1.23 during trading on Tuesday, reaching $32.18. 505,521 shares of the company traded hands, compared to its average volume of 487,777. The firm has a fifty day simple moving average of $31.44 and a 200 day simple moving average of $31.85. 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 1-year low of $26.42 and a 1-year high of $37.36. The firm has a market cap of $3.08 billion, a P/E ratio of 21.03 and a beta of 0.85.

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

WesBanco Announces Dividend

The firm also recently announced 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 was Friday, June 6th. This represents a $1.48 annualized dividend and a yield of 4.60%. WesBanco's payout ratio is 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.