HBK Sorce Advisory LLC Buys New Holdings in WesBanco, Inc. (NASDAQ:WSBC)

HBK Sorce Advisory LLC purchased a new stake in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 9,685 shares of the financial services provider's stock, valued at approximately $300,000.

Several other institutional investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new position in WesBanco in the fourth quarter worth approximately $328,000. Inspire Advisors LLC grew its position in shares of WesBanco by 18.7% during the 4th quarter. Inspire Advisors LLC now owns 63,184 shares of the financial services provider's stock worth $2,056,000 after buying an additional 9,955 shares in the last quarter. Johnson Investment Counsel Inc. bought a new position in shares of WesBanco during the 4th quarter worth $323,000. Nuveen Asset Management LLC increased its stake in shares of WesBanco by 13.4% during the fourth quarter. Nuveen Asset Management LLC now owns 492,167 shares of the financial services provider's stock valued at $16,015,000 after buying an additional 58,214 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of 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 valued at $50,022,000 after acquiring an additional 116,796 shares in the last quarter. Institutional investors own 61.41% of the company's stock.

WesBanco Stock Down 0.6%

Shares of WesBanco stock traded down $0.18 on Friday, reaching $31.67. The stock had a trading volume of 1,836,120 shares, compared to its average volume of 475,418. 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 market capitalization of $3.03 billion, a P/E ratio of 20.70 and a beta of 0.85. The company has a 50 day moving average price of $30.74 and a 200 day moving average price of $31.91. WesBanco, Inc. has a 1 year low of $26.42 and a 1 year high of $37.36.

WesBanco (NASDAQ:WSBC - Get Free Report) last announced its earnings results on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $206.63 million. During the same period last year, the firm earned $0.56 earnings per share. As a group, equities research analysts forecast that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be given a $0.37 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.67%. WesBanco's payout ratio is 96.73%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Royal Bank Of Canada dropped their target price on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating on the stock in a report on Thursday, May 1st. Piper Sandler began coverage on shares of WesBanco in a research note on Thursday, April 3rd. They set an "overweight" rating and a $37.00 price objective on the stock. Keefe, Bruyette & Woods cut their price objective on shares of WesBanco from $43.00 to $40.00 and set an "outperform" rating on the stock in a report on Monday, May 5th. Finally, Raymond James Financial lowered their target price on WesBanco from $44.00 to $38.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 2nd. 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 stock. According to data from MarketBeat.com, WesBanco presently has a consensus rating of "Moderate Buy" and an average target price of $38.71.

About WesBanco

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.