Royce & Associates LP Acquires New Position in WesBanco, Inc. (NASDAQ:WSBC)

Royce & Associates LP acquired a new stake in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 90,587 shares of the financial services provider's stock, valued at approximately $2,805,000. Royce & Associates LP owned approximately 0.14% of WesBanco at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of WesBanco by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 6,710,539 shares of the financial services provider's stock valued at $218,361,000 after buying an additional 705,483 shares in the last quarter. Earnest Partners LLC increased its stake in WesBanco by 27.1% in the 4th quarter. Earnest Partners LLC now owns 1,777,002 shares of the financial services provider's stock worth $57,824,000 after purchasing an additional 379,386 shares during the period. Bank of America Corp DE increased its stake in WesBanco by 8.2% in the 4th quarter. Bank of America Corp DE now owns 1,537,252 shares of the financial services provider's stock worth $50,022,000 after purchasing an additional 116,796 shares during the period. Geode Capital Management LLC increased its stake in WesBanco by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 1,502,057 shares of the financial services provider's stock worth $48,888,000 after purchasing an additional 82,987 shares during the period. Finally, Segall Bryant & Hamill LLC increased its stake in WesBanco by 14.2% in the 1st quarter. Segall Bryant & Hamill LLC now owns 891,580 shares of the financial services provider's stock worth $27,603,000 after purchasing an additional 111,136 shares during the period. 61.41% of the stock is owned by hedge funds and other institutional investors.

WesBanco Price Performance

Shares of WSBC stock opened at $31.94 on Monday. The firm has a market cap of $3.06 billion, a P/E ratio of 20.88 and a beta of 0.85. WesBanco, Inc. has a fifty-two week low of $26.42 and a fifty-two week high of $37.36. The business's 50 day moving average price is $31.67 and its 200-day moving average price is $31.88. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.91 and a current ratio of 0.93.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.06. WesBanco had a return on equity of 6.07% and a net margin of 10.52%. The company had revenue of $253.23 million for the quarter, compared to analyst estimates of $206.63 million. During the same period in the previous year, the company posted $0.56 earnings per share. On average, equities research analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were given a dividend of $0.37 per share. The ex-dividend date was Friday, June 6th. This represents a $1.48 annualized dividend and a dividend yield of 4.63%. WesBanco's dividend payout ratio is presently 96.73%.

Analysts Set New Price Targets

A number of brokerages have commented on WSBC. Keefe, Bruyette & Woods decreased their price target on WesBanco from $43.00 to $40.00 and set an "outperform" rating on the stock in a research note on Monday, May 5th. Raymond James Financial decreased their price target on WesBanco from $44.00 to $38.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 2nd. Piper Sandler began coverage on WesBanco in a research note on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 price target on the stock. Finally, Royal Bank Of Canada decreased their price target on WesBanco from $36.00 to $34.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, WesBanco has a consensus 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.

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.