UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Position in WesBanco, Inc. (NASDAQ:WSBC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 13.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 135,226 shares of the financial services provider's stock after purchasing an additional 16,354 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.20% of WesBanco worth $4,400,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Sterling Capital Management LLC raised its stake 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 worth $59,000 after buying an additional 1,614 shares during the period. Principal Securities Inc. grew its holdings in shares of WesBanco by 40.9% in the 4th 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 in the last quarter. Allworth Financial LP grew its holdings in WesBanco by 668.5% during the fourth quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider's stock worth $78,000 after purchasing an additional 2,146 shares during the period. Quarry LP bought a new position in WesBanco during the fourth quarter worth about $89,000. Finally, Kentucky Trust Co bought a new stake in shares of WesBanco during the fourth quarter worth approximately $126,000. Institutional investors and hedge funds own 61.41% of the company's stock.

WesBanco Stock Down 0.1%

Shares of WSBC stock traded down $0.03 on Thursday, reaching $30.42. 369,931 shares of the company were exchanged, compared to its average volume of 452,432. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 13.58 and a beta of 0.81. The company has a 50-day moving average of $29.89 and a 200-day moving average of $32.49. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93. 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 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.06. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. The business had revenue of $253.23 million for the quarter, compared to analysts' expectations of $206.63 million. During the same quarter last year, the firm earned $0.56 EPS. Analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, June 6th. This represents a $1.48 annualized dividend and a dividend yield of 4.87%. WesBanco's dividend payout ratio is currently 96.73%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WSBC. Raymond James reduced their price objective on WesBanco from $44.00 to $38.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods lowered their price target on shares of WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a report on Monday, May 5th. Piper Sandler initiated coverage on shares of WesBanco in a report on Thursday, April 3rd. They set an "overweight" rating and a $37.00 price target for the company. 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 on the stock in a research note on Thursday, May 1st. Three 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.71.

WesBanco 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.