Wesbanco Bank Inc. lessened its holdings in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,428,894 shares of the financial services provider's stock after selling 23,583 shares during the quarter. WesBanco comprises approximately 1.5% of Wesbanco Bank Inc.'s investment portfolio, making the stock its 10th largest holding. Wesbanco Bank Inc. owned 2.13% of WesBanco worth $44,239,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of WSBC. Naples Global Advisors LLC increased its position in shares of WesBanco by 72.0% during the first quarter. Naples Global Advisors LLC now owns 10,863 shares of the financial services provider's stock worth $340,000 after acquiring an additional 4,548 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in WesBanco by 131.9% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 27,104 shares of the financial services provider's stock worth $839,000 after purchasing an additional 15,417 shares in the last quarter. Rhumbline Advisers raised its holdings in WesBanco by 41.7% during the first quarter. Rhumbline Advisers now owns 133,759 shares of the financial services provider's stock worth $4,141,000 after purchasing an additional 39,388 shares in the last quarter. GAMMA Investing LLC increased its holdings in WesBanco by 8,441.5% in the first quarter. GAMMA Investing LLC now owns 19,133 shares of the financial services provider's stock valued at $618,000 after buying an additional 18,909 shares in the last quarter. Finally, Farmers Trust Co. purchased a new position in shares of WesBanco during the 1st quarter worth approximately $285,000. Hedge funds and other institutional investors own 61.41% of the company's stock.
WesBanco Price Performance
Shares of NASDAQ WSBC traded down $0.37 during trading hours on Thursday, hitting $31.33. 491,148 shares of the stock were exchanged, compared to its average volume of 460,802. WesBanco, Inc. has a 1-year low of $25.93 and a 1-year high of $37.36. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $3.00 billion, a PE ratio of 13.99 and a beta of 0.85. The company's fifty day simple moving average is $30.03 and its two-hundred day simple moving average is $32.34.
WesBanco (NASDAQ:WSBC - Get Free Report) last posted its quarterly 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. The firm had revenue of $253.23 million during the quarter, compared to the consensus estimate of $206.63 million. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. During the same period in the previous year, the firm posted $0.56 earnings per share. On average, sell-side analysts predict that WesBanco, Inc. will post 3.24 EPS for the current year.
WesBanco Dividend Announcement
The business also recently declared 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. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date is Friday, June 6th. WesBanco's payout ratio is 96.73%.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the stock. Raymond James decreased their price target on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 2nd. Royal Bank of Canada decreased their price target on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. Keefe, Bruyette & Woods reduced their target price on shares of WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a research note on Monday, May 5th. Finally, Piper Sandler started coverage on shares of WesBanco in a report on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 target price on the stock. Three equities research 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.71.
Read Our Latest Analysis on WSBC
About WesBanco
(
Free Report)
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.
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