Sequoia Financial Advisors LLC Invests $1.76 Million in WesBanco, Inc. (NASDAQ:WSBC)

Sequoia Financial Advisors LLC purchased a new stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 56,723 shares of the financial services provider's stock, valued at approximately $1,756,000. Sequoia Financial Advisors LLC owned about 0.08% of WesBanco as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB raised its holdings in shares of WesBanco by 7.2% in the fourth quarter. Handelsbanken Fonder AB now owns 11,900 shares of the financial services provider's stock valued at $387,000 after buying an additional 800 shares during the last quarter. Bank of New York Mellon Corp raised its position in WesBanco by 32.7% during the fourth quarter. Bank of New York Mellon Corp now owns 577,352 shares of the financial services provider's stock worth $18,787,000 after acquiring an additional 142,285 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of WesBanco by 32.9% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 60,396 shares of the financial services provider's stock worth $1,965,000 after acquiring an additional 14,950 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of WesBanco during the fourth quarter valued at approximately $328,000. Finally, Bailard Inc. purchased a new stake in WesBanco in the 4th quarter valued at about $574,000. Institutional investors and hedge funds own 61.41% of the company's stock.

WesBanco Price Performance

WesBanco stock traded up $1.07 during midday trading on Tuesday, hitting $32.70. The company's stock had a trading volume of 486,266 shares, compared to its average volume of 476,844. WesBanco, Inc. has a 12 month low of $26.42 and a 12 month high of $37.36. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $3.13 billion, a PE ratio of 21.37 and a beta of 0.85. The stock's 50-day moving average price is $30.81 and its 200-day moving average price is $31.87.

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

WesBanco Dividend Announcement

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 given a dividend of $0.37 per share. The ex-dividend date is Friday, June 6th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.53%. WesBanco's dividend payout ratio (DPR) is presently 96.73%.

Analyst Ratings Changes

WSBC has been the topic of several research reports. Raymond James Financial cut their price target on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 2nd. Royal Bank Of Canada cut their target price on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 1st. 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 report on Monday, May 5th. Finally, Piper Sandler assumed coverage on WesBanco in a report on Thursday, April 3rd. They set an "overweight" rating and a $37.00 price target on the stock. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $38.71.

About WesBanco

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.