Charles Schwab Investment Management Inc. Acquires 238,723 Shares of WesBanco, Inc. $WSBC

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in WesBanco, Inc. by 27.4%, owning 1,110,758 shares worth approximately $34.4 million as of the latest SEC filing.
• WesBanco recently reported $0.91 earnings per share for the last quarter, exceeding analyst estimates of $0.87 by $0.04.
• The company has declared a dividend of $0.37 per share, reflecting an annualized yield of 4.7% and a payout ratio of 89.16%.

Charles Schwab Investment Management Inc. boosted its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 27.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,110,758 shares of the financial services provider's stock after acquiring an additional 238,723 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.66% of WesBanco worth $34,389,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in WesBanco by 40.3% during the 1st quarter. Vanguard Group Inc. now owns 9,413,008 shares of the financial services provider's stock worth $291,427,000 after acquiring an additional 2,702,469 shares during the period. Earnest Partners LLC boosted its stake in WesBanco by 27.1% in 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 buying an additional 379,386 shares in the last quarter. Bank of America Corp DE boosted its stake in 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 in the last quarter. Segall Bryant & Hamill LLC boosted its stake in WesBanco by 14.2% in the 1st quarter. Segall Bryant & Hamill LLC now owns 891,580 shares of the financial services provider's stock valued at $27,603,000 after buying an additional 111,136 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in WesBanco by 2.3% in the 4th quarter. Northern Trust Corp now owns 763,720 shares of the financial services provider's stock valued at $24,851,000 after buying an additional 16,997 shares in the last quarter. 61.41% of the stock is currently owned by institutional investors and hedge funds.

WesBanco Stock Up 4.8%

NASDAQ WSBC traded up $1.51 during trading hours on Friday, hitting $32.70. 221,956 shares of the company traded hands, compared to its average volume of 598,098. WesBanco, Inc. has a twelve month low of $26.42 and a twelve month high of $37.36. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 19.71 and a beta of 0.87. The business's 50-day moving average is $31.50 and its 200-day moving average is $31.57. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.93 and a current ratio of 0.94.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. The company had revenue of $260.73 million during the quarter, compared to analysts' expectations of $261.14 million. WesBanco had a return on equity of 7.29% and a net margin of 11.65%.During the same period last year, the firm posted $0.49 earnings per share. Sell-side analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Royal Bank Of Canada decreased their price target on WesBanco from $36.00 to $34.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 1st. Keefe, Bruyette & Woods cut their price target on WesBanco from $43.00 to $40.00 and set an "outperform" rating on the stock in a research note on Monday, May 5th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.83.

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.