Swiss National Bank Grows Position in WesBanco, Inc. $WSBC

Key Points

• The Swiss National Bank increased its stake in WesBanco, Inc. by 58.8% in the first quarter, owning 185,977 shares worth approximately $5.76 million.
• Despite a recent earnings beat, several research firms have lowered their price targets for WesBanco stock, with a consensus rating of "Moderate Buy" at a price target of $38.83.
• WesBanco recently announced a quarterly dividend of $0.37 per share, resulting in a dividend yield of 4.7% for investors.

Swiss National Bank boosted its stake in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 58.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,977 shares of the financial services provider's stock after acquiring an additional 68,832 shares during the quarter. Swiss National Bank owned 0.28% of WesBanco worth $5,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of WSBC. Federated Hermes Inc. purchased a new stake in WesBanco during the 1st quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new stake in WesBanco during the 1st quarter valued at about $34,000. Creative Financial Designs Inc. ADV purchased a new stake in WesBanco during the 1st quarter valued at about $48,000. Sterling Capital Management LLC boosted its holdings in WesBanco by 807.0% during the 4th 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. Finally, Quarry LP purchased a new stake in WesBanco during the 4th quarter valued at about $89,000. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Royal Bank Of Canada dropped their target price on WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a 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 for the company in a report on Monday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.83.

WesBanco Trading Up 5.3%

NASDAQ WSBC traded up $1.64 on Friday, hitting $32.83. The company's stock had a trading volume of 548,758 shares, compared to its average volume of 527,425. The firm has a market cap of $3.15 billion, a P/E ratio of 19.78 and a beta of 0.87. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.57. The company's 50-day simple moving average is $31.54 and its 200 day simple moving average is $31.53. WesBanco, Inc. has a 52-week low of $26.42 and a 52-week high of $37.36.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its earnings results on Tuesday, July 29th. The financial services provider reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. The company had revenue of $260.73 million during the quarter, compared to analysts' expectations of $261.14 million. WesBanco had a return on equity of 7.29% and a net margin of 11.65%.During the same quarter last year, the business posted $0.49 EPS. Research analysts predict that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.5%. WesBanco's payout ratio is presently 89.16%.

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.