Millennium Management LLC Has $4.05 Million Stake in WesBanco, Inc. (NASDAQ:WSBC)

Millennium Management LLC decreased its holdings in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 42.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 124,382 shares of the financial services provider's stock after selling 90,147 shares during the quarter. Millennium Management LLC owned 0.19% of WesBanco worth $4,047,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Sterling Capital Management LLC boosted its holdings in shares of WesBanco by 807.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider's stock valued at $59,000 after acquiring an additional 1,614 shares in the last quarter. Principal Securities Inc. boosted its stake in WesBanco by 40.9% during the 4th quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider's stock valued at $68,000 after purchasing an additional 603 shares in the last quarter. Allworth Financial LP increased its position in shares of WesBanco by 668.5% during the 4th quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider's stock valued at $78,000 after purchasing an additional 2,146 shares during the period. Quarry LP acquired a new position in shares of WesBanco during the 4th quarter valued at $89,000. Finally, Kentucky Trust Co bought a new stake in shares of WesBanco in the 4th quarter worth $126,000. 61.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

WSBC has been the subject of several research reports. Piper Sandler started coverage on WesBanco in a research note on Thursday, April 3rd. They set an "overweight" rating and a $37.00 target price for the company. Raymond James decreased their target price on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods lowered their price target on 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 dropped their price objective on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 1st. Finally, Wall Street Zen upgraded WesBanco from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. Three equities research 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.71.

WesBanco Stock Performance

WSBC traded up $0.54 during trading on Tuesday, reaching $30.87. 461,816 shares of the company's stock were exchanged, compared to its average volume of 451,992. The company has a market capitalization of $2.95 billion, a P/E ratio of 13.78 and a beta of 0.81. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average price of $29.90 and a 200 day moving average price of $32.50. WesBanco, Inc. has a fifty-two week low of $25.56 and a fifty-two week high of $37.36.

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

WesBanco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be issued a $0.37 dividend. The ex-dividend date of this dividend 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 presently 96.73%.

About WesBanco

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.