GAMMA Investing LLC Has $618,000 Stake in WesBanco, Inc. (NASDAQ:WSBC)

GAMMA Investing LLC grew its stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 8,441.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,133 shares of the financial services provider's stock after purchasing an additional 18,909 shares during the quarter. GAMMA Investing LLC's holdings in WesBanco were worth $618,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in WSBC. Savant Capital LLC acquired a new position in shares of WesBanco in the 4th quarter valued at $207,000. Principal Securities Inc. lifted its stake in shares of WesBanco by 40.9% in the 4th quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider's stock valued at $68,000 after purchasing an additional 603 shares during the period. Allworth Financial LP lifted its stake in shares of WesBanco by 668.5% in the 4th quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider's stock valued at $78,000 after purchasing an additional 2,146 shares during the period. Peregrine Capital Management LLC lifted its stake in shares of WesBanco by 3.0% in the 4th quarter. Peregrine Capital Management LLC now owns 190,629 shares of the financial services provider's stock valued at $6,203,000 after purchasing an additional 5,637 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in shares of WesBanco by 30.5% in the 4th quarter. New York State Common Retirement Fund now owns 653,656 shares of the financial services provider's stock valued at $21,270,000 after purchasing an additional 152,766 shares during the period. Institutional investors and hedge funds own 61.41% of the company's stock.

Analyst Ratings Changes

WSBC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods cut their price target on WesBanco from $43.00 to $40.00 and set an "outperform" rating on the stock in a research note on Monday, May 5th. Royal Bank Of Canada dropped their price objective on WesBanco from $36.00 to $34.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 1st. Raymond James Financial dropped their price objective 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. Finally, Piper Sandler assumed coverage on WesBanco in a research note on Thursday, April 3rd. They set an "overweight" rating and a $37.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.71.

WesBanco Trading Down 0.1%

WesBanco stock traded down $0.03 during mid-day trading on Friday, hitting $30.10. 763,905 shares of the company's stock were exchanged, compared to its average volume of 468,113. The firm has a market capitalization of $2.88 billion, a P/E ratio of 19.67 and a beta of 0.85. WesBanco, Inc. has a fifty-two week low of $26.09 and a fifty-two week high of $37.36. 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's 50 day simple moving average is $30.33 and its 200-day simple moving average is $32.12.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its quarterly 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. WesBanco had a return on equity of 6.07% and a net margin of 10.52%. The firm had revenue of $253.23 million for the quarter, compared to the consensus estimate of $206.63 million. During the same quarter last year, the business posted $0.56 EPS. On average, equities analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.92%. The ex-dividend date is Friday, June 6th. WesBanco's dividend 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.