Deutsche Bank AG Has $2.19 Million Stake in WesBanco, Inc. $WSBC

Key Points

• Deutsche Bank AG increased its stake in WesBanco, Inc. by 45.3% during Q1, now holding 70,655 shares worth approximately $2.19 million.
• WesBanco's average rating is currently "Moderate Buy" with an average target price of $38.83 as per analyst reports.
• The company reported earnings per share of $0.91 for the last quarter, beating consensus estimates by $0.04 and reflecting growth from $0.49 in the same period last year.

Deutsche Bank AG grew its stake in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 45.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 70,655 shares of the financial services provider's stock after acquiring an additional 22,044 shares during the period. Deutsche Bank AG owned about 0.11% of WesBanco worth $2,187,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Comerica Bank raised its stake in WesBanco by 6.0% during the 4th quarter. Comerica Bank now owns 6,482 shares of the financial services provider's stock valued at $211,000 after purchasing an additional 368 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in WesBanco by 9.5% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 8,397 shares of the financial services provider's stock valued at $272,000 after purchasing an additional 730 shares during the period. Federated Hermes Inc. acquired a new stake in WesBanco during the 1st quarter valued at $26,000. Amalgamated Bank raised its stake in WesBanco by 46.0% during the 1st quarter. Amalgamated Bank now owns 2,959 shares of the financial services provider's stock valued at $92,000 after purchasing an additional 932 shares during the period. Finally, IFP Advisors Inc raised its stake in WesBanco by 4.3% during the 1st quarter. IFP Advisors Inc now owns 23,853 shares of the financial services provider's stock valued at $738,000 after purchasing an additional 980 shares during the period. Institutional investors and hedge funds own 61.41% of the company's stock.

WesBanco Stock Up 0.8%

Shares of NASDAQ WSBC traded up $0.26 during mid-day trading on Tuesday, reaching $32.62. The company had a trading volume of 309,237 shares, compared to its average volume of 516,060. WesBanco, Inc. has a twelve month low of $26.42 and a twelve month high of $37.36. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.93 and a current ratio of 0.94. The stock has a market capitalization of $3.13 billion, a PE ratio of 19.65 and a beta of 0.87. The stock's 50 day moving average is $31.64 and its 200-day moving average is $31.49.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its quarterly 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. WesBanco had a net margin of 11.65% and a return on equity of 7.29%. The business had revenue of $260.73 million for the quarter, compared to the consensus estimate of $261.14 million. During the same period in the prior year, the business posted $0.49 earnings per share. As a group, equities analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, September 5th. WesBanco's dividend payout ratio is presently 89.16%.

Wall Street Analysts Forecast Growth

WSBC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods cut their target price on shares of WesBanco from $43.00 to $40.00 and set an "outperform" rating on the stock in a research note on Monday, May 5th. Royal Bank Of Canada cut their target price 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. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, WesBanco currently has an average rating of "Moderate Buy" and an average target price of $38.83.

WesBanco Company 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.