Squarepoint Ops LLC Sells 16,177 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Squarepoint Ops LLC lessened its holdings in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 65.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,566 shares of the financial services provider's stock after selling 16,177 shares during the quarter. Squarepoint Ops LLC's holdings in WesBanco were worth $279,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in 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 purchasing an additional 705,483 shares during the period. Earnest Partners LLC increased its position in WesBanco by 27.1% during the 4th quarter. Earnest Partners LLC now owns 1,777,002 shares of the financial services provider's stock valued at $57,824,000 after purchasing an additional 379,386 shares during the period. Bank of America Corp DE increased its position in WesBanco by 8.2% during the 4th quarter. Bank of America Corp DE now owns 1,537,252 shares of the financial services provider's stock valued at $50,022,000 after purchasing an additional 116,796 shares during the period. Geode Capital Management LLC increased its position in WesBanco by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 1,502,057 shares of the financial services provider's stock valued at $48,888,000 after purchasing an additional 82,987 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in WesBanco by 6.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 872,035 shares of the financial services provider's stock valued at $28,376,000 after purchasing an additional 50,704 shares during the period. Institutional investors own 61.41% of the company's stock.

WesBanco Price Performance

Shares of NASDAQ WSBC traded up $0.51 during midday trading on Tuesday, hitting $31.75. 975,405 shares of the company's stock were exchanged, compared to its average volume of 459,070. WesBanco, Inc. has a 12-month low of $25.56 and a 12-month high of $37.36. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 14.17 and a beta of 0.85. The business's fifty day moving average price is $29.95 and its two-hundred day moving average price is $32.34.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its earnings results on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.06. The company had revenue of $253.23 million during the quarter, compared to the consensus estimate of $206.63 million. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. During the same quarter in the previous year, the company posted $0.56 EPS. As a group, research analysts forecast that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be given a $0.37 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.48 dividend on an annualized basis and a yield of 4.66%. WesBanco's payout ratio is 96.73%.

Wall Street Analyst Weigh In

Several analysts have recently commented on WSBC shares. Piper Sandler started coverage on shares of WesBanco in a research report on Thursday, April 3rd. They set an "overweight" rating and a $37.00 price objective for the company. Keefe, Bruyette & Woods reduced their price objective on shares of WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a research report on Monday, May 5th. Raymond James reduced their price objective on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 2nd. Finally, Royal Bank of Canada reduced their price objective on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, WesBanco presently has an average 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.