WesBanco, Inc. $WSBC Shares Acquired by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. significantly increased its holdings in WesBanco, Inc. by 990.1% during Q1, acquiring over 634,000 shares for a total of approximately $21.6 million.
• WesBanco reported earnings of $0.91 per share for the latest quarter, exceeding estimates, with a revenue of $260.73 million.
• The company declared a quarterly dividend of $0.37 per share, representing an annual yield of 4.6%, to be paid on October 1st.

Alliancebernstein L.P. grew its holdings in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 990.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 698,194 shares of the financial services provider's stock after purchasing an additional 634,148 shares during the period. Alliancebernstein L.P. owned approximately 1.04% of WesBanco worth $21,616,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. The Manufacturers Life Insurance Company raised its holdings in shares of WesBanco by 10.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 33,639 shares of the financial services provider's stock valued at $1,095,000 after buying an additional 3,270 shares during the period. Comerica Bank raised its holdings in shares of WesBanco by 6.0% in the 4th quarter. Comerica Bank now owns 6,482 shares of the financial services provider's stock valued at $211,000 after buying an additional 368 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of WesBanco by 5.5% in the 4th quarter. Ameriprise Financial Inc. now owns 75,949 shares of the financial services provider's stock valued at $2,472,000 after buying an additional 3,944 shares during the period. Bank of America Corp DE raised its holdings in shares of WesBanco by 8.2% in the 4th quarter. Bank of America Corp DE now owns 1,537,252 shares of the financial services provider's stock valued at $50,022,000 after buying an additional 116,796 shares during the period. Finally, Captrust Financial Advisors raised its holdings in shares of WesBanco by 36.7% in the 4th quarter. Captrust Financial Advisors now owns 14,158 shares of the financial services provider's stock valued at $461,000 after buying an additional 3,803 shares during the period. Institutional investors and hedge funds own 61.41% of the company's stock.

WesBanco Price Performance

WSBC stock opened at $32.02 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $3.07 billion, a PE ratio of 19.29 and a beta of 0.85. WesBanco, Inc. has a 12-month low of $26.42 and a 12-month high of $37.36. The business's fifty day moving average price is $31.89 and its 200 day moving average price is $31.22.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. The firm had revenue of $260.73 million for the quarter, compared to the consensus estimate of $261.14 million. WesBanco had a return on equity of 7.29% and a net margin of 11.65%.During the same quarter in the previous year, the business earned $0.49 EPS. On average, sell-side analysts anticipate 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 Wednesday, October 1st. Shareholders of record on Friday, September 5th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, September 5th. This represents a $1.48 annualized dividend and a yield of 4.6%. WesBanco's dividend payout ratio is 89.16%.

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.

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