Hennion & Walsh Asset Management Inc. boosted its stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 131.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,104 shares of the financial services provider's stock after purchasing an additional 15,417 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in WesBanco were worth $839,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in WSBC. Vanguard Group Inc. lifted its stake in shares of WesBanco by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 6,710,539 shares of the financial services provider's stock valued at $218,361,000 after buying an additional 705,483 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of WesBanco by 27.1% during the 4th quarter. Earnest Partners LLC now owns 1,777,002 shares of the financial services provider's stock valued at $57,824,000 after buying an additional 379,386 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of WesBanco by 8.2% during the 4th 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 buying an additional 116,796 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of WesBanco by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 1,502,057 shares of the financial services provider's stock valued at $48,888,000 after buying an additional 82,987 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in WesBanco by 6.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 872,035 shares of the financial services provider's stock worth $28,376,000 after purchasing an additional 50,704 shares in the last quarter. Institutional investors own 61.41% of the company's stock.
WesBanco Price Performance
Shares of WesBanco stock traded down $0.05 during trading hours on Wednesday, reaching $31.70. The company's stock had a trading volume of 613,542 shares, compared to its average volume of 460,681. The firm has a 50 day moving average price of $30.03 and a 200-day moving average price of $32.34. WesBanco, Inc. has a one year low of $25.93 and a one year high of $37.36. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $3.03 billion, a P/E ratio of 14.15 and a beta of 0.85.
WesBanco (NASDAQ:WSBC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.06. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. The firm had revenue of $253.23 million for the quarter, compared to the consensus estimate of $206.63 million. During the same period in the previous year, the firm posted $0.56 EPS. On average, analysts predict that WesBanco, Inc. will post 3.24 EPS for the current year.
WesBanco Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be issued 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 dividend payout ratio (DPR) is presently 96.73%.
Wall Street Analysts Forecast Growth
Several analysts have commented on WSBC shares. Piper Sandler started coverage on shares of WesBanco in a research note on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 price target on the stock. Keefe, Bruyette & Woods decreased their price target on shares of 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 decreased their price target on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 1st. Finally, Raymond James decreased their price target on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $38.71.
Read Our Latest Analysis on WSBC
About WesBanco
(
Free Report)
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.
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