Spire Wealth Management Boosts Holdings in WesBanco, Inc. (NASDAQ:WSBC)

Spire Wealth Management grew its stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 34,162.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,705 shares of the financial services provider's stock after buying an additional 13,665 shares during the period. Spire Wealth Management's holdings in WesBanco were worth $424,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Comerica Bank boosted its stake in WesBanco by 6.0% during the 4th quarter. Comerica Bank now owns 6,482 shares of the financial services provider's stock worth $211,000 after purchasing an additional 368 shares during the period. Bank of Montreal Can boosted its stake in WesBanco by 3.4% during the 4th quarter. Bank of Montreal Can now owns 20,092 shares of the financial services provider's stock worth $654,000 after purchasing an additional 665 shares during the period. Hazlett Burt & Watson Inc. boosted its stake in WesBanco by 12.3% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 6,331 shares of the financial services provider's stock worth $206,000 after purchasing an additional 695 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in shares of WesBanco by 9.5% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 8,397 shares of the financial services provider's stock worth $272,000 after acquiring an additional 730 shares during the period. Finally, Avantax Planning Partners Inc. lifted its stake in shares of WesBanco by 1.6% in the 4th quarter. Avantax Planning Partners Inc. now owns 48,473 shares of the financial services provider's stock worth $1,577,000 after acquiring an additional 756 shares during the period. Institutional investors and hedge funds own 61.41% of the company's stock.

WesBanco Price Performance

Shares of WSBC traded down $0.18 during trading hours on Friday, reaching $31.67. The company had a trading volume of 1,836,120 shares, compared to its average volume of 475,418. The firm has a 50 day simple moving average of $30.74 and a 200-day simple moving average of $31.91. 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 company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 20.70 and a beta of 0.85. WesBanco, Inc. has a 12-month low of $26.42 and a 12-month high of $37.36.

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, beating 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 firm had revenue of $253.23 million during the quarter, compared to the consensus estimate of $206.63 million. During the same period last year, the firm posted $0.56 EPS. Research analysts expect that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.48 annualized dividend and a yield of 4.67%. WesBanco's dividend payout ratio (DPR) is currently 96.73%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Royal Bank Of Canada reduced their target price on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a research note on Thursday, May 1st. Keefe, Bruyette & Woods reduced their target price on shares of WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a research note on Monday, May 5th. Piper Sandler assumed coverage on shares of WesBanco in a research note on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 target price for the company. Finally, Raymond James Financial reduced their target price on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 2nd. Three equities research 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. 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.