WesBanco, Inc. $WSBC Shares Acquired by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in WesBanco, Inc. by 44.9% in the first quarter, now owning 64,023 shares worth approximately $1.98 million.
• WesBanco reported earnings of $0.91 per share for the last quarter, exceeding analysts' expectations of $0.87, with a revenue of $260.73 million.
• Analyst ratings for WesBanco include one Strong Buy, three Buy, and two Hold ratings, with a consensus target price of $38.83.

LPL Financial LLC boosted its holdings in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 44.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 64,023 shares of the financial services provider's stock after acquiring an additional 19,836 shares during the period. LPL Financial LLC owned 0.10% of WesBanco worth $1,982,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of WSBC. Opal Wealth Advisors LLC purchased a new position in shares of WesBanco during the 1st quarter worth $34,000. Creative Financial Designs Inc. ADV purchased a new position in shares of WesBanco during the 1st quarter worth $48,000. Sterling Capital Management LLC grew its holdings in shares of WesBanco by 807.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider's stock worth $59,000 after purchasing an additional 1,614 shares during the period. Quarry LP purchased a new position in shares of WesBanco during the 4th quarter worth $89,000. Finally, Amalgamated Bank grew its holdings in shares of WesBanco by 46.0% during the 1st quarter. Amalgamated Bank now owns 2,959 shares of the financial services provider's stock worth $92,000 after purchasing an additional 932 shares during the period. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WSBC. Keefe, Bruyette & Woods lowered their price target on WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a report on Monday, May 5th. Royal Bank Of Canada lowered their target price on WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, WesBanco presently has an average rating of "Moderate Buy" and an average price target of $38.83.

WesBanco Stock Down 0.9%

Shares of WSBC traded down $0.2950 during midday trading on Monday, hitting $32.5350. The company had a trading volume of 75,137 shares, compared to its average volume of 596,933. The company's 50-day simple moving average is $31.54 and its 200-day simple moving average is $31.50. 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 firm has a market capitalization of $3.12 billion, a P/E ratio of 19.60 and a beta of 0.87. WesBanco, Inc. has a 1 year low of $26.42 and a 1 year high of $37.36.

WesBanco (NASDAQ:WSBC - Get Free Report) last announced 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 business 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 quarter last year, the business posted $0.49 EPS. As a group, sell-side analysts expect that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.5%. WesBanco's payout ratio is presently 89.16%.

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.