Charles Schwab Investment Management Inc. Has $34.39 Million Stock Position in 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. lifted its holdings in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 27.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,110,758 shares of the financial services provider's stock after purchasing an additional 238,723 shares during the period. Charles Schwab Investment Management Inc. owned 1.66% of WesBanco worth $34,389,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in WSBC. Vanguard Group Inc. increased its stake in shares of WesBanco by 40.3% in the first quarter. Vanguard Group Inc. now owns 9,413,008 shares of the financial services provider's stock worth $291,427,000 after purchasing an additional 2,702,469 shares during the period. Earnest Partners LLC increased its stake in shares of WesBanco by 27.1% in the fourth quarter. Earnest Partners LLC now owns 1,777,002 shares of the financial services provider's stock worth $57,824,000 after purchasing an additional 379,386 shares during the period. Emerald Advisers LLC bought a new position in shares of WesBanco in the first quarter worth about $11,419,000. Barclays PLC increased its stake in shares of WesBanco by 104.8% in the fourth quarter. Barclays PLC now owns 371,347 shares of the financial services provider's stock worth $12,084,000 after purchasing an additional 190,022 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of WesBanco by 29.8% in the first quarter. Bank of New York Mellon Corp now owns 749,178 shares of the financial services provider's stock worth $23,195,000 after purchasing an additional 171,826 shares during the period. 61.41% of the stock is currently owned by institutional investors.

WesBanco Stock Performance

WSBC stock traded up $1.64 during trading on Friday, reaching $32.83. 548,758 shares of the stock were exchanged, compared to its average volume of 527,425. WesBanco, Inc. has a twelve month low of $26.42 and a twelve month high of $37.36. The company has a market capitalization of $3.15 billion, a P/E ratio of 19.78 and a beta of 0.87. The stock has a 50 day simple moving average of $31.54 and a 200-day simple moving average of $31.53. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.57.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its earnings results on Tuesday, July 29th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. The business 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 period last year, the business earned $0.49 earnings per share. As a group, sell-side analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Announces Dividend

The business also recently disclosed 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. This represents a $1.48 dividend on an annualized basis and a yield of 4.5%. WesBanco's payout ratio is 89.16%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Royal Bank Of Canada dropped their price objective 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 decreased their target price on WesBanco from $43.00 to $40.00 and set an "outperform" rating on the stock in a research report 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, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $38.83.

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.