Keybank National Association OH Makes New $2.11 Million Investment in WesBanco, Inc. (NASDAQ:WSBC)

Keybank National Association OH acquired a new position in WesBanco, Inc. (NASDAQ:WSBC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 68,086 shares of the financial services provider's stock, valued at approximately $2,108,000. Keybank National Association OH owned 0.10% of WesBanco at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Amalgamated Bank grew its position in shares of WesBanco by 46.0% in 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 during the period. KBC Group NV purchased a new position in shares of WesBanco during the first quarter valued at approximately $145,000. Creative Financial Designs Inc. ADV purchased a new position in shares of WesBanco during the first quarter valued at approximately $48,000. Sequoia Financial Advisors LLC bought a new stake in shares of WesBanco in the 1st quarter worth approximately $1,756,000. Finally, HBK Sorce Advisory LLC purchased a new stake in shares of WesBanco in the 1st quarter worth approximately $300,000. 61.41% of the stock is owned by institutional investors.

WesBanco Stock Performance

WesBanco stock traded up $0.41 during midday trading on Friday, reaching $33.69. 269,383 shares of the company traded hands, compared to its average volume of 479,155. WesBanco, Inc. has a 12 month low of $26.42 and a 12 month high of $37.36. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.91. The business has a 50 day moving average of $31.12 and a two-hundred day moving average of $31.86. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 22.02 and a beta of 0.85.

WesBanco (NASDAQ:WSBC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.60 by $0.06. The company had revenue of $253.23 million during the quarter, compared to analyst estimates 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 previous year, the company posted $0.56 earnings per share. As a group, research analysts predict that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th were paid a $0.37 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.48 annualized dividend and a dividend yield of 4.39%. WesBanco's dividend payout ratio (DPR) is 96.73%.

Analyst Upgrades and Downgrades

Several research firms have commented on WSBC. Royal Bank Of Canada dropped their target price on WesBanco from $36.00 to $34.00 and set a "sector perform" rating on the stock in a report on Thursday, May 1st. Keefe, Bruyette & Woods reduced their price objective on shares of WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a research note on Monday, May 5th. Piper Sandler assumed coverage on shares of WesBanco in a research note on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 target price on the stock. Finally, Raymond James Financial cut their price target on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, WesBanco presently has a consensus rating of "Moderate Buy" and a consensus price target 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.