Squarepoint Ops LLC Reduces Stake in WesBanco, Inc. (NASDAQ:WSBC)

Squarepoint Ops LLC lowered its position in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 65.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,566 shares of the financial services provider's stock after selling 16,177 shares during the period. Squarepoint Ops LLC's holdings in WesBanco were worth $279,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Sterling Capital Management LLC lifted its holdings in WesBanco by 807.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider's stock valued at $59,000 after acquiring an additional 1,614 shares during the period. Principal Securities Inc. lifted its holdings in WesBanco by 40.9% in the fourth quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider's stock valued at $68,000 after acquiring an additional 603 shares during the period. Allworth Financial LP lifted its holdings in WesBanco by 668.5% in the fourth quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider's stock valued at $78,000 after acquiring an additional 2,146 shares during the period. Quarry LP acquired a new position in WesBanco in the fourth quarter valued at approximately $89,000. Finally, Kentucky Trust Co acquired a new position in WesBanco in the fourth quarter valued at approximately $126,000. Hedge funds and other institutional investors own 61.41% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on WSBC shares. Royal Bank of Canada reduced their target price on 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 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 started coverage on WesBanco in a research note on Thursday, April 3rd. They set an "overweight" rating and a $37.00 target price for the company. Finally, Raymond James reduced their target price on 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 analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $38.71.

WesBanco Stock Up 1.4%

WSBC opened at $30.85 on Friday. The business's fifty day moving average is $29.89 and its two-hundred day moving average is $32.43. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 13.77 and a beta of 0.85. WesBanco, Inc. has a one year low of $25.56 and a one year high of $37.36.

WesBanco (NASDAQ:WSBC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.60 by $0.06. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. The company had revenue of $253.23 million during the quarter, compared to analyst estimates of $206.63 million. During the same period in the prior year, the firm posted $0.56 earnings per share. Analysts anticipate that WesBanco, Inc. will post 3.24 EPS 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 paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 4.80%. The ex-dividend date is 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.

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