Northwestern Mutual Wealth Management Co. Increases Stock Position in WesBanco, Inc. $WSBC

Key Points

• Northwestern Mutual Wealth Management Co. significantly increased its stake in WesBanco, Inc. by 29,966.9%, owning approximately 51,715 shares valued at $1.6 million after acquiring 51,543 additional shares in the first quarter.
• Analysts have downgraded WesBanco's price target from $43.00 to $40.00, with an overall average rating of "Moderate Buy" and a price target of $38.83.
• WesBanco recently declared a quarterly dividend of $0.37 per share, with a yield of 4.5%, scheduled to be paid on October 1st.

Northwestern Mutual Wealth Management Co. grew its stake in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 29,966.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,715 shares of the financial services provider's stock after acquiring an additional 51,543 shares during the quarter. Northwestern Mutual Wealth Management Co. owned about 0.08% of WesBanco worth $1,601,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Mariner LLC purchased a new position in shares of WesBanco in the fourth quarter worth approximately $214,000. Stifel Financial Corp boosted its holdings in shares of WesBanco by 5.8% in the fourth quarter. Stifel Financial Corp now owns 44,057 shares of the financial services provider's stock worth $1,434,000 after buying an additional 2,399 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of WesBanco by 347.0% in the fourth quarter. Hsbc Holdings PLC now owns 43,419 shares of the financial services provider's stock worth $1,415,000 after buying an additional 33,705 shares during the last quarter. Tudor Investment Corp ET AL boosted its holdings in shares of WesBanco by 63.7% in the fourth quarter. Tudor Investment Corp ET AL now owns 103,096 shares of the financial services provider's stock worth $3,355,000 after buying an additional 40,115 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of WesBanco by 10.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 33,639 shares of the financial services provider's stock worth $1,095,000 after buying an additional 3,270 shares during the last quarter. Hedge funds and other institutional investors own 61.41% of the company's stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods dropped their price objective on shares of WesBanco from $43.00 to $40.00 and set an "outperform" rating on the stock in a report on Monday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $38.83.

WesBanco Price Performance

Shares of NASDAQ:WSBC opened at $32.80 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.94 and a quick ratio of 0.93. WesBanco, Inc. has a 1-year low of $26.42 and a 1-year high of $37.36. The company has a market capitalization of $3.15 billion, a P/E ratio of 19.76 and a beta of 0.87. The firm's 50 day simple moving average is $31.80 and its two-hundred day simple moving average is $31.41.

WesBanco (NASDAQ:WSBC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. WesBanco had a net margin of 11.65% and a return on equity of 7.29%. The business 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 firm earned $0.49 earnings per share. Research analysts expect that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.48 annualized dividend and a yield of 4.5%. WesBanco's payout ratio is currently 89.16%.

About WesBanco

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.

Want to see what other hedge funds are holding WSBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WesBanco, Inc. (NASDAQ:WSBC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.