Farmers Trust Co. Takes $285,000 Position in WesBanco, Inc. (NASDAQ:WSBC)

Farmers Trust Co. bought a new position in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,213 shares of the financial services provider's stock, valued at approximately $285,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in shares of WesBanco in the 4th quarter valued at about $328,000. Inspire Advisors LLC lifted its stake in shares of WesBanco by 18.7% in the 4th quarter. Inspire Advisors LLC now owns 63,184 shares of the financial services provider's stock valued at $2,056,000 after purchasing an additional 9,955 shares during the period. Johnson Investment Counsel Inc. bought a new stake in shares of WesBanco during the 4th quarter valued at about $323,000. Nuveen Asset Management LLC grew its stake in WesBanco by 13.4% during the fourth quarter. Nuveen Asset Management LLC now owns 492,167 shares of the financial services provider's stock worth $16,015,000 after purchasing an additional 58,214 shares during the period. Finally, Bank of America Corp DE increased its holdings in WesBanco by 8.2% in the fourth quarter. Bank of America Corp DE now owns 1,537,252 shares of the financial services provider's stock worth $50,022,000 after purchasing an additional 116,796 shares in the last quarter. Institutional investors own 61.41% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Royal Bank of Canada cut their price target on WesBanco from $36.00 to $34.00 and set a "sector perform" rating on the stock in a report on Thursday, May 1st. Raymond James cut their price objective 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. Wall Street Zen upgraded shares of WesBanco from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. Keefe, Bruyette & Woods decreased their target price on shares of WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a research report on Monday, May 5th. Finally, Piper Sandler assumed coverage on shares of WesBanco in a report on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 target price on the stock. Three investment 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 MarketBeat.com, WesBanco has an average rating of "Moderate Buy" and a consensus price target of $38.71.

WesBanco Stock Down 1.2%

NASDAQ:WSBC traded down $0.38 on Wednesday, hitting $30.49. The stock had a trading volume of 100,546 shares, compared to its average volume of 450,610. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market cap of $2.92 billion, a P/E ratio of 13.61 and a beta of 0.81. WesBanco, Inc. has a 1 year low of $25.56 and a 1 year high of $37.36. The firm's fifty day simple moving average is $29.90 and its two-hundred day simple moving average is $32.50.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its earnings results on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.06. The company had revenue of $253.23 million during the quarter, compared to analyst estimates of $206.63 million. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. During the same period in the prior year, the company posted $0.56 earnings per share. Analysts predict that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend is Friday, June 6th. WesBanco's dividend payout ratio (DPR) is currently 96.73%.

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.