ProShare Advisors LLC Decreases Stock Position in WesBanco, Inc. (NASDAQ:WSBC)

ProShare Advisors LLC cut its holdings in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 51.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 227,933 shares of the financial services provider's stock after selling 245,299 shares during the period. ProShare Advisors LLC owned about 0.34% of WesBanco worth $7,417,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sterling Capital Management LLC boosted its position in shares of WesBanco by 807.0% in the 4th quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider's stock worth $59,000 after buying an additional 1,614 shares in the last quarter. Principal Securities Inc. boosted its position in shares of WesBanco by 40.9% in the 4th quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider's stock worth $68,000 after buying an additional 603 shares in the last quarter. Allworth Financial LP boosted its position in shares of WesBanco by 668.5% in the 4th quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider's stock worth $78,000 after buying an additional 2,146 shares in the last quarter. Quarry LP purchased a new stake in shares of WesBanco in the 4th quarter worth about $89,000. Finally, Kentucky Trust Co purchased a new stake in shares of WesBanco in the 4th quarter worth about $126,000. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

WesBanco Trading Down 0.4%

Shares of NASDAQ WSBC traded down $0.13 on Friday, reaching $30.40. 610,249 shares of the company traded hands, compared to its average volume of 445,270. WesBanco, Inc. has a fifty-two week low of $25.56 and a fifty-two week high of $37.36. The company has a 50 day moving average of $30.06 and a 200 day moving average of $32.74. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $2.04 billion, a PE ratio of 13.57 and a beta of 0.81.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its quarterly earnings data 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 15.89% and a return on equity of 6.30%. The company had revenue of $253.23 million during the quarter, compared to the consensus estimate of $206.63 million. During the same quarter in the prior year, the company posted $0.56 EPS. On average, equities research analysts forecast that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date of this dividend is Friday, June 6th. WesBanco's dividend payout ratio is currently 96.73%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WSBC. Keefe, Bruyette & Woods cut their target price on shares of WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a research note on Monday, May 5th. Raymond James cut their target price on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 2nd. Piper Sandler began coverage on shares of WesBanco in a research note on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 target price for the company. Royal Bank of Canada cut their target price on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a research note on Thursday, May 1st. Finally, DA Davidson boosted their target price on shares of WesBanco from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, WesBanco has an average 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.