Spire Wealth Management Purchases 13,665 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Spire Wealth Management grew its stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 34,162.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,705 shares of the financial services provider's stock after acquiring an additional 13,665 shares during the period. Spire Wealth Management's holdings in WesBanco were worth $424,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the stock. Proficio Capital Partners LLC bought a new stake in shares of WesBanco during the fourth quarter worth $328,000. Inspire Advisors LLC boosted its position in shares of WesBanco by 18.7% during the 4th quarter. Inspire Advisors LLC now owns 63,184 shares of the financial services provider's stock worth $2,056,000 after acquiring an additional 9,955 shares in the last quarter. Johnson Investment Counsel Inc. acquired a new position in shares of WesBanco during the fourth quarter worth $323,000. Nuveen Asset Management LLC grew its holdings in shares of WesBanco by 13.4% during the fourth quarter. Nuveen Asset Management LLC now owns 492,167 shares of the financial services provider's stock worth $16,015,000 after purchasing an additional 58,214 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of WesBanco by 8.2% during the fourth quarter. Bank of America Corp DE now owns 1,537,252 shares of the financial services provider's stock worth $50,022,000 after acquiring an additional 116,796 shares during the last quarter. Institutional investors own 61.41% of the company's stock.

Analyst Ratings Changes

WSBC has been the topic of a number of recent analyst reports. Royal Bank Of Canada dropped their price target on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. Keefe, Bruyette & Woods dropped their price objective on WesBanco from $43.00 to $40.00 and set an "outperform" rating on the stock in a research report on Monday, May 5th. Raymond James Financial decreased their target price on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, 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 on the stock. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, WesBanco presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.71.

WesBanco Stock Up 1.3%

NASDAQ WSBC traded up $0.43 during trading on Wednesday, reaching $33.13. The company's stock had a trading volume of 241,200 shares, compared to its average volume of 475,968. The business has a 50-day moving average price of $30.88 and a 200-day moving average price of $31.87. 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. The stock has a market capitalization of $3.17 billion, a PE ratio of 21.67 and a beta of 0.85.

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

WesBanco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend was Friday, June 6th. WesBanco's dividend payout ratio is presently 96.73%.

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.