Vanguard Group Inc. Increases Stake in WesBanco, Inc. $WSBC

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. boosted its position in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 40.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 9,413,008 shares of the financial services provider's stock after purchasing an additional 2,702,469 shares during the period. Vanguard Group Inc. owned about 14.06% of WesBanco worth $291,427,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Envestnet Asset Management Inc. lifted its stake in WesBanco by 5.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 241,510 shares of the financial services provider's stock worth $7,859,000 after purchasing an additional 12,777 shares in the last quarter. Bank of Montreal Can grew its holdings in WesBanco by 3.4% in 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 during the last quarter. Raymond James Financial Inc. bought a new stake in WesBanco in the 4th quarter worth $5,345,000. Sterling Capital Management LLC grew its holdings in WesBanco by 807.0% in the 4th quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider's stock worth $59,000 after acquiring an additional 1,614 shares during the last quarter. Finally, Barclays PLC grew its holdings in WesBanco by 104.8% in the 4th quarter. Barclays PLC now owns 371,347 shares of the financial services provider's stock worth $12,084,000 after acquiring an additional 190,022 shares during the last quarter. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada decreased their target price on shares of 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 price target 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. One 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 stock. Based on data from MarketBeat.com, WesBanco presently has an average rating of "Moderate Buy" and an average price target of $38.83.

WesBanco Stock Performance

Shares of WesBanco stock traded down $0.01 on Thursday, hitting $31.17. 79,533 shares of the company's stock were exchanged, compared to its average volume of 598,239. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.93 and a current ratio of 0.94. WesBanco, Inc. has a 1 year low of $26.42 and a 1 year high of $37.36. The company has a 50-day simple moving average of $31.50 and a 200-day simple moving average of $31.59. The stock has a market capitalization of $2.99 billion, a PE ratio of 18.76 and a beta of 0.87.

WesBanco (NASDAQ:WSBC - Get Free Report) last issued 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. The company had revenue of $260.73 million for the quarter, compared to the consensus estimate of $261.14 million. WesBanco had a net margin of 11.65% and a return on equity of 7.29%. During the same period in the prior year, the firm posted $0.49 EPS. As a group, equities analysts anticipate that WesBanco, Inc. will post 3.24 EPS for the current year.

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.