Envestnet Asset Management Inc. Grows Stock Holdings in WesBanco, Inc. (NASDAQ:WSBC)

Envestnet Asset Management Inc. grew its position in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 258,682 shares of the financial services provider's stock after purchasing an additional 17,172 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.39% of WesBanco worth $8,009,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in shares of WesBanco during the fourth quarter worth about $328,000. Raymond James Financial Inc. acquired a new stake in shares of WesBanco during the fourth quarter worth about $5,345,000. Swiss National Bank boosted its stake in shares of WesBanco by 0.9% during the fourth quarter. Swiss National Bank now owns 117,145 shares of the financial services provider's stock worth $3,812,000 after buying an additional 1,100 shares during the period. Corient Private Wealth LLC boosted its stake in shares of WesBanco by 4.4% during the fourth quarter. Corient Private Wealth LLC now owns 22,153 shares of the financial services provider's stock worth $721,000 after buying an additional 935 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of WesBanco by 12.1% during the fourth quarter. American Century Companies Inc. now owns 136,516 shares of the financial services provider's stock worth $4,442,000 after buying an additional 14,777 shares during the period. Hedge funds and other institutional investors own 61.41% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on WSBC. Piper Sandler began coverage on shares of WesBanco in a research report on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 price objective for the company. Royal Bank Of Canada reduced their price target on WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. Raymond James Financial reduced 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. Finally, Keefe, Bruyette & Woods reduced their price target on WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a report on Monday, May 5th. Three 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $38.71.

WesBanco Price Performance

WesBanco stock traded down $0.04 during mid-day trading on Friday, reaching $31.94. The company had a trading volume of 553,462 shares, compared to its average volume of 642,046. WesBanco, Inc. has a 1 year low of $26.42 and a 1 year high of $37.36. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.91. The company has a market capitalization of $3.06 billion, a P/E ratio of 20.88 and a beta of 0.85. The stock's 50-day simple moving average is $31.67 and its 200-day simple moving average is $31.87.

WesBanco (NASDAQ:WSBC - Get Free Report) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating 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 company had revenue of $253.23 million during the quarter, compared to analysts' expectations of $206.63 million. During the same period last year, the company posted $0.56 earnings per share. On average, equities analysts predict that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Announces Dividend

The business also recently disclosed 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 of this dividend was Friday, June 6th. This represents a $1.48 annualized dividend and a dividend yield of 4.63%. WesBanco's dividend payout ratio is currently 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.