Royce & Associates LP Buys Shares of 90,587 WesBanco, Inc. (NASDAQ:WSBC)

Key Points

• Royce & Associates LP has acquired a new stake in WesBanco, purchasing 90,587 shares valued at approximately $2.8 million, marking their ownership at 0.14% of the company.
• WesBanco reported earnings of $0.66 per share for the last quarter, exceeding expectations with revenue of $253.23 million, significantly higher than the analyst projection of $206.63 million.
• The company declared a quarterly dividend of $0.37 per share, leading to an annualized dividend yield of 4.63%, with a payout ratio of 96.73%.

Royce & Associates LP acquired a new position in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 90,587 shares of the financial services provider's stock, valued at approximately $2,805,000. Royce & Associates LP owned 0.14% of WesBanco as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Comerica Bank increased its position in WesBanco by 6.0% in the fourth quarter. Comerica Bank now owns 6,482 shares of the financial services provider's stock worth $211,000 after buying an additional 368 shares during the period. Bank of Montreal Can increased its holdings in shares of WesBanco by 3.4% in the 4th quarter. Bank of Montreal Can now owns 20,092 shares of the financial services provider's stock worth $654,000 after acquiring an additional 665 shares during the period. Hazlett Burt & Watson Inc. increased its stake in shares of WesBanco by 12.3% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 6,331 shares of the financial services provider's stock valued at $206,000 after purchasing an additional 695 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in shares of WesBanco by 9.5% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 8,397 shares of the financial services provider's stock valued at $272,000 after purchasing an additional 730 shares during the period. Finally, Amalgamated Bank increased its stake in shares of WesBanco by 46.0% in the first quarter. Amalgamated Bank now owns 2,959 shares of the financial services provider's stock valued at $92,000 after purchasing an additional 932 shares during the period. Institutional investors and hedge funds own 61.41% of the company's stock.

WesBanco Price Performance

NASDAQ:WSBC traded down $0.43 during mid-day trading on Thursday, reaching $30.09. 216,879 shares of the stock were exchanged, compared to its average volume of 607,691. The business has a fifty day moving average price of $31.66 and a 200 day moving average price of $31.88. The firm has a market capitalization of $2.88 billion, a PE ratio of 18.11 and a beta of 0.85. WesBanco, Inc. has a 1-year low of $26.42 and a 1-year high of $37.36. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.50.

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, topping analysts' consensus estimates of $0.87 by $0.04. The firm had revenue of $260.73 million for the quarter, compared to analysts' expectations of $261.14 million. WesBanco had a return on equity of 7.72% and a net margin of 11.65%. During the same quarter last year, the business posted $0.49 EPS. Research analysts expect that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend was Friday, June 6th. WesBanco's payout ratio is 96.73%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Royal Bank Of Canada lowered their target price on WesBanco from $36.00 to $34.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. Raymond James Financial lowered their price target on WesBanco from $44.00 to $38.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 2nd. Piper Sandler began coverage on WesBanco in a report on Thursday, April 3rd. They set an "overweight" rating and a $37.00 price target on the stock. Finally, Keefe, Bruyette & Woods lowered 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. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, WesBanco currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.83.

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.