ProShare Advisors LLC reduced its position in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 51.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 227,933 shares of the financial services provider's stock after selling 245,299 shares during the period. ProShare Advisors LLC owned approximately 0.34% of WesBanco worth $7,417,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of WSBC. Barclays PLC boosted its holdings in WesBanco by 151.1% in the third quarter. Barclays PLC now owns 181,325 shares of the financial services provider's stock valued at $5,399,000 after purchasing an additional 109,104 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of WesBanco in the 3rd quarter valued at approximately $1,148,000. MCF Advisors LLC boosted its stake in shares of WesBanco by 17,801.0% during the 4th quarter. MCF Advisors LLC now owns 170,955 shares of the financial services provider's stock valued at $5,626,000 after buying an additional 170,000 shares during the last quarter. Empowered Funds LLC grew its position in shares of WesBanco by 5.1% during the fourth quarter. Empowered Funds LLC now owns 195,398 shares of the financial services provider's stock worth $6,358,000 after buying an additional 9,466 shares in the last quarter. Finally, Savant Capital LLC acquired a new stake in shares of WesBanco during the fourth quarter worth approximately $207,000. 61.41% of the stock is currently owned by institutional investors and hedge funds.
WesBanco Stock Performance
Shares of NASDAQ:WSBC traded up $0.04 during trading on Friday, reaching $30.57. 295,107 shares of the company's stock traded hands, compared to its average volume of 441,727. The stock has a market capitalization of $2.05 billion, a P/E ratio of 13.64 and a beta of 0.81. WesBanco, Inc. has a 12 month low of $25.56 and a 12 month high of $37.36. The company has a 50 day moving average of $30.09 and a 200-day moving average of $32.77. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93.
WesBanco (NASDAQ:WSBC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.60 by $0.06. The company had revenue of $253.23 million during the quarter, compared to analyst estimates of $206.63 million. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. During the same period in the prior year, the company earned $0.56 earnings per share. On average, equities analysts expect that WesBanco, Inc. will post 3.24 EPS for the current year.
WesBanco Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.48 dividend on an annualized basis and a yield of 4.84%. WesBanco's payout ratio is currently 96.73%.
Wall Street Analyst Weigh In
A number of research analysts have commented on WSBC shares. Raymond James reduced their price objective on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods cut their target price on shares of WesBanco from $43.00 to $40.00 and set an "outperform" rating on the stock in a research note on Monday, May 5th. DA Davidson increased their price target on shares of WesBanco from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Royal Bank of Canada lowered their price objective on WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. Finally, Piper Sandler began coverage on WesBanco in a research note on Thursday, April 3rd. They set an "overweight" rating and a $37.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $38.71.
View Our Latest Stock Report on WSBC
About WesBanco
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Free Report)
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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