Raymond James Financial Inc. Purchases 28,167 Shares of WesBanco, Inc. $WSBC

Key Points

• Raymond James Financial Inc. increased its stake in WesBanco, Inc. by 17.1%, owning approximately 192,442 shares worth $5.96 million by the end of the first quarter.
• WesBanco recently declared a quarterly dividend of $0.37 payable on October 1st, representing an annualized dividend yield of 4.5%.
• The company reported earnings of $0.91 per share for the last quarter, exceeding the consensus estimate by $0.04.

Raymond James Financial Inc. increased its position in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 17.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 192,442 shares of the financial services provider's stock after purchasing an additional 28,167 shares during the quarter. Raymond James Financial Inc. owned 0.29% of WesBanco worth $5,958,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Mariner LLC bought a new stake in WesBanco in the 4th quarter worth about $214,000. Stifel Financial Corp boosted its holdings in WesBanco by 5.8% during the 4th quarter. Stifel Financial Corp now owns 44,057 shares of the financial services provider's stock valued at $1,434,000 after acquiring an additional 2,399 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of WesBanco by 10.8% during 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 purchasing an additional 3,270 shares during the period. Northern Trust Corp lifted its stake in WesBanco by 2.3% in the fourth quarter. Northern Trust Corp now owns 763,720 shares of the financial services provider's stock worth $24,851,000 after acquiring an additional 16,997 shares during the period. Finally, AQR Capital Management LLC raised its stake in WesBanco by 78.0% in the fourth quarter. AQR Capital Management LLC now owns 179,277 shares of the financial services provider's stock worth $5,834,000 after buying an additional 78,541 shares in the last quarter. 61.41% of the stock is currently owned by institutional investors.

WesBanco Stock Performance

Shares of WSBC traded down $0.21 during mid-day trading on Monday, hitting $32.07. 143,160 shares of the company traded hands, compared to its average volume of 584,081. The stock has a 50-day moving average price of $31.93 and a two-hundred day moving average price of $31.24. WesBanco, Inc. has a 1 year low of $26.42 and a 1 year high of $37.36. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.93 and a current ratio of 0.94. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 19.30 and a beta of 0.85.

WesBanco (NASDAQ:WSBC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. WesBanco had a return on equity of 7.29% and a net margin of 11.65%.The company had revenue of $260.73 million during the quarter, compared to analyst estimates of $261.14 million. During the same period in the prior year, the company earned $0.49 earnings per share. Equities analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, September 5th. WesBanco's payout ratio is presently 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.