Mackenzie Financial Corp Sells 12,989 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Key Points

• Mackenzie Financial Corp significantly reduced its holdings in WesBanco, Inc. by 63.8% during the first quarter, selling 12,989 shares and now owning 7,376 shares worth $228,000.
• WesBanco reported a quarterly EPS of $0.91, exceeding analysts' estimates of $0.87, with a net margin of 11.65% and revenue of $260.73 million.
• The company announced a quarterly dividend of $0.37, resulting in an annualized dividend yield of 5.0%, with a current dividend payout ratio of 89.16%.

Mackenzie Financial Corp decreased its position in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 63.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,376 shares of the financial services provider's stock after selling 12,989 shares during the period. Mackenzie Financial Corp's holdings in WesBanco were worth $228,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Comerica Bank boosted its holdings in WesBanco by 6.0% during the fourth quarter. Comerica Bank now owns 6,482 shares of the financial services provider's stock worth $211,000 after buying an additional 368 shares during the last quarter. Bank of Montreal Can grew its position in shares of WesBanco by 3.4% in the 4th quarter. Bank of Montreal Can now owns 20,092 shares of the financial services provider's stock valued at $654,000 after purchasing an additional 665 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in WesBanco by 9.5% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 8,397 shares of the financial services provider's stock worth $272,000 after purchasing an additional 730 shares in the last quarter. Amalgamated Bank raised its holdings 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 during the period. Finally, IFP Advisors Inc raised its holdings in WesBanco by 4.3% during the 1st quarter. IFP Advisors Inc now owns 23,853 shares of the financial services provider's stock worth $738,000 after buying an additional 980 shares during the period. Institutional investors own 61.41% of the company's stock.

WesBanco Stock Up 3.8%

NASDAQ WSBC traded up $1.13 during trading on Tuesday, hitting $30.67. The stock had a trading volume of 720,955 shares, compared to its average volume of 605,531. The company has a market capitalization of $2.94 billion, a PE ratio of 18.48 and a beta of 0.87. The company's 50-day moving average price is $31.50 and its two-hundred day moving average price is $31.74. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.91 and a current ratio of 0.93. WesBanco, Inc. has a 12 month low of $26.42 and a 12 month high of $37.36.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its earnings results 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. The firm had revenue of $260.73 million for the quarter, compared to analysts' expectations of $261.14 million. WesBanco had a return on equity of 7.72% and a net margin of 11.65%. During the same quarter in the previous year, the business posted $0.49 EPS. As a group, sell-side analysts forecast that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.48 annualized dividend and a dividend yield of 4.8%. WesBanco's payout ratio is 89.16%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on WSBC shares. Royal Bank Of Canada lowered their price objective on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. Keefe, Bruyette & Woods dropped their price target on WesBanco from $43.00 to $40.00 and set an "outperform" rating on the stock in a research note on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, WesBanco currently has a consensus rating of "Moderate Buy" and a consensus 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.