Northern Trust Corp Purchases 281,685 Shares of WesBanco, Inc. $WSBC

Key Points

• Northern Trust Corp increased its holdings in WesBanco, Inc. by 36.9%, acquiring an additional 281,685 shares, bringing its total ownership to 1,045,405 shares valued at approximately $32.37 million.
• WesBanco has declared a quarterly dividend of $0.37 per share, representing an annualized yield of 4.5%, to be paid on October 1st to investors of record.
• Following a recent downgrade, the average price target for WesBanco shares is now set at $38.83, with a current stock rating of "Moderate Buy".

Northern Trust Corp lifted its holdings in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 36.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,045,405 shares of the financial services provider's stock after purchasing an additional 281,685 shares during the quarter. Northern Trust Corp owned 1.56% of WesBanco worth $32,366,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Summit Securities Group LLC bought a new stake in shares of WesBanco during the first quarter worth approximately $68,000. Raymond James Financial Inc. increased its position in WesBanco by 17.1% during the 1st quarter. Raymond James Financial Inc. now owns 192,442 shares of the financial services provider's stock worth $5,958,000 after purchasing an additional 28,167 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of WesBanco by 331.2% during the 1st quarter. American Century Companies Inc. now owns 588,690 shares of the financial services provider's stock valued at $18,226,000 after acquiring an additional 452,174 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of WesBanco by 42.6% in the first quarter. Dimensional Fund Advisors LP now owns 5,793,319 shares of the financial services provider's stock valued at $179,358,000 after buying an additional 1,730,801 shares during the period. Finally, Boston Partners acquired a new position in shares of WesBanco during the first quarter worth $1,690,000. 61.41% of the stock is owned by institutional investors.

WesBanco Trading Up 1.0%

NASDAQ:WSBC traded up $0.34 on Thursday, reaching $32.99. 342,129 shares of the stock traded hands, compared to its average volume of 411,127. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 19.87 and a beta of 0.85. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.57. WesBanco, Inc. has a 1-year low of $26.42 and a 1-year high of $37.36. The company's 50 day moving average is $31.91 and its 200-day moving average is $31.34.

WesBanco (NASDAQ:WSBC - Get Free Report) last released 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. WesBanco had a net margin of 11.65% and a return on equity of 7.29%. The company had revenue of $260.73 million for the quarter, compared to the consensus estimate of $261.14 million. During the same quarter in the previous year, the company earned $0.49 EPS. Equities research 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 will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Friday, September 5th. WesBanco's dividend payout ratio (DPR) is currently 89.16%.

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.