Mendon Capital Advisors Corp Buys New Stake in WesBanco, Inc. $WSBC

Key Points

• Mendon Capital Advisors Corp has acquired a new stake in WesBanco, Inc., buying 50,000 shares valued at approximately $1.55 million, representing about 0.07% of the company's stock.
• WesBanco recently reported earnings of $0.91 EPS, outperforming analyst estimates of $0.87, alongside revenue of $260.73 million.
• The company announced a quarterly dividend of $0.37 per share, resulting in an annualized dividend yield of 4.7% with a payout ratio of 89.16%.

Mendon Capital Advisors Corp bought a new stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 50,000 shares of the financial services provider's stock, valued at approximately $1,548,000. Mendon Capital Advisors Corp owned approximately 0.07% of WesBanco as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Federated Hermes Inc. bought a new stake in WesBanco in the first quarter worth $26,000. Smartleaf Asset Management LLC grew its holdings in WesBanco by 132.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 895 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 510 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in WesBanco during the 1st quarter valued at about $34,000. Creative Financial Designs Inc. ADV bought a new position in WesBanco during the 1st quarter valued at about $48,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in WesBanco by 573.1% during 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 purchasing an additional 1,599 shares during the last quarter. 61.41% of the stock is currently owned by institutional investors.

WesBanco Stock Performance

Shares of NASDAQ:WSBC opened at $31.59 on Wednesday. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 19.03 and a beta of 0.85. WesBanco, Inc. has a 12 month low of $26.42 and a 12 month high of $37.36. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.57. The firm's 50-day moving average is $31.91 and its 200 day moving average is $31.22.

WesBanco (NASDAQ:WSBC - Get Free Report) last issued its earnings results on Tuesday, July 29th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. The firm had revenue of $260.73 million during the quarter, compared to analyst estimates of $261.14 million. WesBanco had a net margin of 11.65% and a return on equity of 7.29%. During the same period in the previous year, the firm earned $0.49 earnings per share. Research 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 will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be issued a $0.37 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.48 dividend on an annualized basis and a yield of 4.7%. WesBanco's payout ratio is currently 89.16%.

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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