Nuveen Asset Management LLC Acquires 58,214 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Nuveen Asset Management LLC raised its position in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 13.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 492,167 shares of the financial services provider's stock after purchasing an additional 58,214 shares during the quarter. Nuveen Asset Management LLC owned 0.74% of WesBanco worth $16,015,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of WSBC. Vanguard Group Inc. boosted its position in shares of WesBanco by 11.7% during the fourth quarter. Vanguard Group Inc. now owns 6,710,539 shares of the financial services provider's stock valued at $218,361,000 after buying an additional 705,483 shares during the last quarter. Earnest Partners LLC boosted its holdings in shares of WesBanco by 27.1% during the 4th quarter. Earnest Partners LLC now owns 1,777,002 shares of the financial services provider's stock valued at $57,824,000 after acquiring an additional 379,386 shares during the last quarter. Bank of America Corp DE grew its stake in shares of WesBanco by 8.2% in the fourth quarter. Bank of America Corp DE now owns 1,537,252 shares of the financial services provider's stock worth $50,022,000 after acquiring an additional 116,796 shares during the period. Geode Capital Management LLC grew its stake in shares of WesBanco by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 1,502,057 shares of the financial services provider's stock worth $48,888,000 after acquiring an additional 82,987 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of WesBanco by 6.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 872,035 shares of the financial services provider's stock valued at $28,376,000 after purchasing an additional 50,704 shares during the last quarter. 61.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

WesBanco Stock Performance

NASDAQ WSBC traded down $0.55 on Wednesday, hitting $30.89. 429,492 shares of the company traded hands, compared to its average volume of 445,641. The business's 50 day moving average price is $30.02 and its 200-day moving average price is $32.68. WesBanco, Inc. has a 52-week low of $25.56 and a 52-week high of $37.36. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 13.79 and a beta of 0.81.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.06. The firm had revenue of $253.23 million for the quarter, compared to analysts' expectations of $206.63 million. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. During the same period in the previous year, the firm earned $0.56 EPS. Equities analysts expect that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be given a $0.37 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.79%. WesBanco's payout ratio is currently 96.73%.

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.