Cetera Investment Advisers Acquires 43,541 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Key Points

• Cetera Investment Advisers significantly increased its stake in WesBanco by 707.6% in the first quarter, now owning 49,694 shares valued at approximately $1.54 million.
• Analysts have adjusted their target prices for WesBanco, with Keefe, Bruyette & Woods lowering it from $43.00 to $40.00, while Royal Bank Of Canada decreased theirs from $36.00 to $34.00. Currently, WesBanco has a consensus rating of "Moderate Buy" with a target price of $38.83.
• WesBanco reported earnings of $0.91 per share for the last quarter, surpassing expectations and has declared a dividend of $0.37 per share, indicating a 5.0% yield for shareholders.

Cetera Investment Advisers raised its stake in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 707.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 49,694 shares of the financial services provider's stock after purchasing an additional 43,541 shares during the period. Cetera Investment Advisers owned approximately 0.07% of WesBanco worth $1,539,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. LPL Financial LLC boosted its stake in shares of WesBanco by 68.1% in the 4th quarter. LPL Financial LLC now owns 44,187 shares of the financial services provider's stock worth $1,438,000 after buying an additional 17,907 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of WesBanco by 37.0% in the 4th quarter. JPMorgan Chase & Co. now owns 318,582 shares of the financial services provider's stock worth $10,367,000 after purchasing an additional 86,014 shares during the period. Norges Bank bought a new stake in shares of WesBanco in the 4th quarter worth approximately $1,771,000. Geode Capital Management LLC raised its holdings in shares of WesBanco by 5.8% in 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 period. Finally, Trexquant Investment LP bought a new stake in shares of WesBanco in the 4th quarter worth approximately $757,000. Institutional investors and hedge funds own 61.41% of the company's stock.

WesBanco Price Performance

NASDAQ:WSBC traded up $1.13 during midday trading on Tuesday, hitting $30.67. The company had a trading volume of 720,955 shares, compared to its average volume of 605,531. WesBanco, Inc. has a 52-week low of $26.42 and a 52-week high of $37.36. The stock's fifty day moving average price is $31.50 and its 200-day moving average price is $31.74. The company has a market capitalization of $2.94 billion, a PE ratio of 18.48 and a beta of 0.87. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.50.

WesBanco (NASDAQ:WSBC - Get Free Report) last announced its earnings results on Tuesday, July 29th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. WesBanco had a net margin of 11.65% and a return on equity of 7.72%. The company 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 earned $0.49 earnings per share. As a group, research analysts expect that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were given a $0.37 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.48 annualized dividend and a yield of 4.8%. WesBanco's payout ratio is 89.16%.

Analyst Ratings Changes

WSBC has been the topic of a number of research reports. Royal Bank Of Canada lowered their price target on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating on the stock in a report on Thursday, May 1st. Keefe, Bruyette & Woods decreased 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. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.83.

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.