Hotchkis & Wiley Capital Management LLC Purchases Shares of 362,728 WesBanco, Inc. $WSBC

Key Points

• Hotchkis & Wiley Capital Management LLC acquired 362,728 shares of WesBanco, Inc. for approximately $11.23 million, representing about 0.54% of the company's stock.
• WesBanco recently reported $0.91 earnings per share, exceeding the expected $0.87, and had a quarterly revenue of $260.73 million.
• The company has announced a quarterly dividend of $0.37 per share, which represents an annualized amount of $1.48 with a yield of 4.5%.

Hotchkis & Wiley Capital Management LLC purchased a new position in WesBanco, Inc. (NASDAQ:WSBC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 362,728 shares of the financial services provider's stock, valued at approximately $11,230,000. Hotchkis & Wiley Capital Management LLC owned approximately 0.54% of WesBanco as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of WesBanco in the fourth quarter worth about $5,345,000. Mariner LLC purchased a new position in WesBanco during the 4th quarter valued at approximately $214,000. Marshall Wace LLP purchased a new position in WesBanco during the 4th quarter valued at approximately $866,000. CANADA LIFE ASSURANCE Co increased its stake in WesBanco by 9.5% in the 4th 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. Finally, MetLife Investment Management LLC raised its holdings in shares of WesBanco by 5.8% during the 4th quarter. MetLife Investment Management LLC now owns 35,043 shares of the financial services provider's stock worth $1,140,000 after acquiring an additional 1,911 shares in the last quarter. Institutional investors own 61.41% of the company's stock.

WesBanco Price Performance

Shares of WesBanco stock opened at $32.83 on Friday. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 19.78 and a beta of 0.87. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.93 and a current ratio of 0.94. The stock has a 50 day moving average price of $31.54 and a 200-day moving average price of $31.53. WesBanco, Inc. has a one year low of $26.42 and a one year high of $37.36.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. The company had revenue of $260.73 million for the quarter, compared to analyst estimates of $261.14 million. WesBanco had a return on equity of 7.29% and a net margin of 11.65%.During the same quarter in the prior year, the firm posted $0.49 EPS. Equities analysts expect that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.5%. WesBanco's dividend payout ratio is currently 89.16%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods lowered their target price on WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a research report 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. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $38.83.

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.

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