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

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in WesBanco by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 6,710,539 shares of the financial services provider's stock worth $218,361,000 after acquiring an additional 705,483 shares during the last quarter. Earnest Partners LLC lifted its holdings in shares of WesBanco by 27.1% in the 4th quarter. Earnest Partners LLC now owns 1,777,002 shares of the financial services provider's stock worth $57,824,000 after buying an additional 379,386 shares during the period. Bank of America Corp DE lifted its stake in shares of WesBanco by 8.2% during the 4th quarter. Bank of America Corp DE now owns 1,537,252 shares of the financial services provider's stock worth $50,022,000 after purchasing an additional 116,796 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of WesBanco by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 1,502,057 shares of the financial services provider's stock worth $48,888,000 after purchasing an additional 82,987 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of WesBanco by 6.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 872,035 shares of the financial services provider's stock worth $28,376,000 after purchasing an additional 50,704 shares during the last quarter. Institutional investors own 61.41% of the company's stock.

Analyst Upgrades and Downgrades

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

WesBanco Stock Performance

WesBanco stock traded up $0.54 during midday trading on Tuesday, hitting $30.87. 461,816 shares of the company were exchanged, compared to its average volume of 451,992. The firm has a market capitalization of $2.95 billion, a PE ratio of 13.78 and a beta of 0.81. WesBanco, Inc. has a fifty-two week low of $25.56 and a fifty-two week high of $37.36. The business has a fifty day simple moving average of $29.90 and a two-hundred day simple moving average of $32.50. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.60 by $0.06. The firm had revenue of $253.23 million for 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 period last year, the company earned $0.56 earnings per share. On average, sell-side analysts forecast that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.48 annualized dividend and a dividend yield of 4.79%. WesBanco's dividend payout ratio (DPR) 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.