Hsbc Holdings PLC Acquires 11,014 Shares of WesBanco, Inc. $WSBC

Key Points

• Hsbc Holdings PLC increased its stake in WesBanco, Inc. by 25.4%, acquiring an additional 11,014 shares during the first quarter, bringing its total holdings to 54,433 shares worth approximately $1.69 million.
• WesBanco recently announced a quarterly dividend of $0.37 per share, representing a yield of 4.5% with a payout ratio of 89.16%.
• Analysts have set new price targets for WesBanco, with Royal Bank Of Canada lowering its target from $36.00 to $34.00, while Keefe, Bruyette & Woods reduced theirs from $43.00 to $40.00, indicating a mixed outlook for the stock.

Hsbc Holdings PLC raised its stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 25.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,433 shares of the financial services provider's stock after acquiring an additional 11,014 shares during the period. Hsbc Holdings PLC owned approximately 0.08% of WesBanco worth $1,693,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Federated Hermes Inc. bought a new stake in WesBanco in the 1st quarter valued at $26,000. Opal Wealth Advisors LLC bought a new stake in WesBanco in the 1st quarter valued at $34,000. Creative Financial Designs Inc. ADV bought a new stake in WesBanco in the 1st quarter valued at $48,000. Caitong International Asset Management Co. Ltd increased its holdings in WesBanco by 573.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,878 shares of the financial services provider's stock valued at $58,000 after acquiring an additional 1,599 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in WesBanco in the 1st quarter valued at $68,000. 61.41% of the stock is currently owned by institutional investors.

WesBanco Price Performance

NASDAQ WSBC traded up $0.24 on Wednesday, reaching $32.65. The company had a trading volume of 435,113 shares, compared to its average volume of 420,109. WesBanco, Inc. has a 12 month low of $26.42 and a 12 month high of $37.36. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.57. The firm's 50 day moving average price is $31.89 and its 200 day moving average price is $31.36. The stock has a market capitalization of $3.13 billion, a PE ratio of 19.67 and a beta of 0.85.

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

WesBanco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, September 5th. This represents a $1.48 annualized dividend and a yield of 4.5%. WesBanco's dividend payout ratio (DPR) is 89.16%.

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.