WesBanco, Inc. (NASDAQ:WSBC) Stock Position Lowered by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 5.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 619,904 shares of the financial services provider's stock after selling 33,752 shares during the period. New York State Common Retirement Fund owned 0.93% of WesBanco worth $19,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of WSBC. Vanguard Group Inc. boosted its stake in shares of WesBanco by 11.7% during the fourth quarter. Vanguard Group Inc. now owns 6,710,539 shares of the financial services provider's stock worth $218,361,000 after buying an additional 705,483 shares during the period. Earnest Partners LLC raised its holdings in WesBanco by 27.1% during the fourth quarter. Earnest Partners LLC now owns 1,777,002 shares of the financial services provider's stock worth $57,824,000 after purchasing an additional 379,386 shares in the last quarter. Bank of America Corp DE raised its holdings in WesBanco by 8.2% during the fourth quarter. Bank of America Corp DE now owns 1,537,252 shares of the financial services provider's stock worth $50,022,000 after purchasing an additional 116,796 shares in the last quarter. Geode Capital Management LLC raised its holdings in WesBanco by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 1,502,057 shares of the financial services provider's stock worth $48,888,000 after purchasing an additional 82,987 shares in the last quarter. Finally, Segall Bryant & Hamill LLC raised its holdings in WesBanco by 25.2% during the fourth quarter. Segall Bryant & Hamill LLC now owns 780,444 shares of the financial services provider's stock worth $25,396,000 after purchasing an additional 156,903 shares in the last quarter. Institutional investors and hedge funds own 61.41% of the company's stock.

WesBanco Trading Up 0.2%

Shares of WSBC traded up $0.07 during mid-day trading on Friday, reaching $32.85. The company had a trading volume of 1,996,006 shares, compared to its average volume of 500,850. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 21.47 and a beta of 0.85. The firm has a fifty day simple moving average of $31.66 and a 200-day simple moving average of $31.85. WesBanco, Inc. has a fifty-two week low of $26.42 and a fifty-two week high of $37.36. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.50.

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

WesBanco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend was Friday, June 6th. WesBanco's payout ratio is currently 96.73%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WSBC shares. Royal Bank Of Canada reduced their price target 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. Piper Sandler started coverage on shares of WesBanco in a research report on Thursday, April 3rd. They set an "overweight" rating and a $37.00 price target for the company. Keefe, Bruyette & Woods reduced their price target on shares of WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a research report on Monday, May 5th. Finally, Raymond James Financial reduced their price target on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $38.71.

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.