Investors Asset Management of Georgia Inc. GA ADV Acquires New Stake in WesBanco, Inc. (NASDAQ:WSBC)

Investors Asset Management of Georgia Inc. GA ADV bought a new position in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 29,297 shares of the financial services provider's stock, valued at approximately $907,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in shares of WesBanco in the first quarter valued at approximately $34,000. Creative Financial Designs Inc. ADV bought a new position in WesBanco in the first quarter valued at $48,000. Sterling Capital Management LLC increased its stake in WesBanco by 807.0% in the 4th quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider's stock valued at $59,000 after buying an additional 1,614 shares during the last quarter. Quarry LP acquired a new stake in WesBanco in the 4th quarter valued at $89,000. Finally, Amalgamated Bank lifted its position in WesBanco by 46.0% during the 1st quarter. Amalgamated Bank now owns 2,959 shares of the financial services provider's stock worth $92,000 after buying an additional 932 shares in the last quarter. Institutional investors and hedge funds own 61.41% of the company's stock.

WesBanco Price Performance

Shares of NASDAQ WSBC opened at $33.69 on Friday. 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 business's 50 day moving average price is $31.03 and its two-hundred day moving average price is $31.87. The company has a market cap of $3.22 billion, a PE ratio of 22.02 and a beta of 0.85. WesBanco, Inc. has a twelve month low of $26.42 and a twelve month high of $37.36.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.60 by $0.06. The company had revenue of $253.23 million for the quarter, compared to the consensus estimate of $206.63 million. WesBanco had a return on equity of 6.07% and a net margin of 10.52%. During the same quarter in the prior year, the business earned $0.56 earnings per share. On average, analysts predict that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date was Friday, June 6th. WesBanco's dividend payout ratio is currently 96.73%.

Analysts Set New Price Targets

WSBC has been the subject of several analyst reports. Piper Sandler started coverage on WesBanco in a report on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 price objective for the company. 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 research note on Monday, May 5th. Royal Bank Of Canada dropped their price objective on 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 Financial cut their price objective 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 analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.

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