WesBanco, Inc. $WSBC Shares Purchased by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its holdings in WesBanco, Inc. by 40.3% in Q1, owning 9,413,008 shares valued at approximately $291 million.
• WesBanco reported an EPS of $0.91 for the last quarter, exceeding estimates, with plans for a quarterly dividend of $0.37 and a yield of 4.8%.
• A consensus rating of "Moderate Buy" exists for WesBanco shares, with a current price target of $38.83 set by analysts.

Vanguard Group Inc. increased its position in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 40.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,413,008 shares of the financial services provider's stock after buying an additional 2,702,469 shares during the period. Vanguard Group Inc. owned about 14.06% of WesBanco worth $291,427,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WSBC. Comerica Bank grew its holdings 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 acquiring an additional 368 shares in the last quarter. Bank of Montreal Can grew its holdings 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 acquiring an additional 665 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in WesBanco by 9.5% during 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 in the last quarter. Federated Hermes Inc. acquired a new position in WesBanco during the 1st quarter worth $26,000. Finally, Amalgamated Bank grew its holdings in WesBanco by 46.0% during the 1st quarter. Amalgamated Bank now owns 2,959 shares of the financial services provider's stock worth $92,000 after acquiring an additional 932 shares in the last quarter. Hedge funds and other institutional investors own 61.41% of the company's stock.

WesBanco Stock Performance

Shares of NASDAQ WSBC traded up $1.64 during midday trading 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. WesBanco, Inc. has a 1-year low of $26.42 and a 1-year high of $37.36. The firm's fifty day moving average price is $31.54 and its 200-day moving average price is $31.55. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a market cap of $3.15 billion, a P/E ratio of 19.78 and a beta of 0.87.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. WesBanco had a net margin of 11.65% and a return on equity of 7.29%. The business had revenue of $260.73 million during the quarter, compared to analyst estimates of $261.14 million. During the same period in the previous year, the business posted $0.49 EPS. On average, sell-side analysts forecast 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. Shareholders of record on Friday, September 5th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.5%. WesBanco's payout ratio is 89.16%.

Wall Street Analyst Weigh In

WSBC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their price objective 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. Royal Bank Of Canada decreased their price objective on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $38.83.

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.