HBK Sorce Advisory LLC Buys Shares of 9,685 WesBanco, Inc. (NASDAQ:WSBC)

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

Several other hedge funds also recently added to or reduced their stakes in the stock. IFP Advisors Inc increased its stake in WesBanco by 1.3% in the fourth quarter. IFP Advisors Inc now owns 22,873 shares of the financial services provider's stock valued at $744,000 after purchasing an additional 304 shares during the last quarter. Comerica Bank grew its position in shares of WesBanco by 6.0% during the fourth quarter. Comerica Bank now owns 6,482 shares of the financial services provider's stock worth $211,000 after acquiring an additional 368 shares during the last quarter. Bank of Montreal Can grew its position in shares of WesBanco by 3.4% during the fourth quarter. Bank of Montreal Can now owns 20,092 shares of the financial services provider's stock worth $654,000 after acquiring an additional 665 shares during the last quarter. Hazlett Burt & Watson Inc. grew its position in shares of WesBanco by 12.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 6,331 shares of the financial services provider's stock worth $206,000 after acquiring an additional 695 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of WesBanco by 9.5% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 8,397 shares of the financial services provider's stock worth $272,000 after acquiring an additional 730 shares during the last quarter. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

WesBanco Stock Performance

Shares of NASDAQ WSBC traded up $1.07 during mid-day trading on Tuesday, hitting $32.70. 486,266 shares of the company were exchanged, compared to its average volume of 476,844. 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 50 day simple moving average of $30.88 and a 200-day simple moving average of $31.87. 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 $3.13 billion, a price-to-earnings ratio of 21.37 and a beta of 0.85.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its earnings results on Tuesday, April 29th. The financial services provider reported $0.66 EPS 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 company had revenue of $253.23 million during the quarter, compared to the consensus estimate of $206.63 million. During the same quarter last year, the company earned $0.56 earnings per share. On average, sell-side analysts forecast that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders 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 yield of 4.53%. The ex-dividend date of this dividend is Friday, June 6th. WesBanco's dividend payout ratio (DPR) is currently 96.73%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WSBC. Piper Sandler began coverage on shares of WesBanco in a research report on Thursday, April 3rd. They set an "overweight" rating and a $37.00 target price on the stock. Royal Bank Of Canada lowered their target price on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. Raymond James Financial decreased 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 decreased 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $38.71.

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.