Voloridge Investment Management LLC Grows Stock Position in WesBanco, Inc. (NASDAQ:WSBC)

Voloridge Investment Management LLC lifted its stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 32.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,108 shares of the financial services provider's stock after buying an additional 8,141 shares during the quarter. Voloridge Investment Management LLC's holdings in WesBanco were worth $1,077,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in WSBC. Barclays PLC grew its position in shares of WesBanco by 151.1% during the third quarter. Barclays PLC now owns 181,325 shares of the financial services provider's stock worth $5,399,000 after purchasing an additional 109,104 shares in the last quarter. Empowered Funds LLC boosted its stake in WesBanco by 5.1% in the 4th quarter. Empowered Funds LLC now owns 195,398 shares of the financial services provider's stock worth $6,358,000 after purchasing an additional 9,466 shares during the period. Savant Capital LLC purchased a new stake in WesBanco during the 4th quarter valued at approximately $207,000. Kentucky Trust Co bought a new stake in shares of WesBanco during the fourth quarter valued at approximately $126,000. Finally, Naples Global Advisors LLC purchased a new position in shares of WesBanco in the fourth quarter worth $208,000. 61.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Keefe, Bruyette & Woods reduced their price target on shares of WesBanco from $43.00 to $40.00 and set an "outperform" rating on the stock in a report on Monday, May 5th. Royal Bank of Canada decreased their price objective on WesBanco from $36.00 to $34.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. Raymond James cut their target price on WesBanco from $44.00 to $38.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 2nd. Piper Sandler initiated coverage on WesBanco in a research report on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 price target for the company. Finally, Wall Street Zen raised shares of WesBanco from a "sell" rating to a "hold" rating in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, WesBanco has an average rating of "Moderate Buy" and a consensus target price of $38.71.

WesBanco Stock Up 1.0%

Shares of NASDAQ WSBC traded up $0.29 during midday trading on Tuesday, reaching $30.62. 56,626 shares of the company's stock traded hands, compared to its average volume of 449,009. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 13.67 and a beta of 0.81. The stock's 50 day simple moving average is $29.92 and its 200-day simple moving average is $32.52. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. 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 posted 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 analyst estimates 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 prior year, the business earned $0.56 earnings per share. On average, analysts predict 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. Shareholders of record on Friday, June 6th will be issued 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 4.83%. WesBanco's dividend payout ratio is presently 96.73%.

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.