Zurcher Kantonalbank Zurich Cantonalbank Acquires 8,515 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Key Points

• Zurcher Kantonalbank increased its stake in WesBanco by 48.7% in Q1, owning 25,992 shares valued at $805,000 after purchasing an additional 8,515 shares.
• WesBanco's shares are currently trading at $29.69, with an average price target of $38.83, and have received a "Moderate Buy" rating from analysts.
• The company recently declared a quarterly dividend of $0.37, yielding 5.0%, with a high dividend payout ratio of 89.16%.

Zurcher Kantonalbank Zurich Cantonalbank grew its position in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 48.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,992 shares of the financial services provider's stock after purchasing an additional 8,515 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in WesBanco were worth $805,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in shares of WesBanco during the 1st quarter worth about $34,000. Creative Financial Designs Inc. ADV acquired a new position in WesBanco during the first quarter valued at approximately $48,000. Sterling Capital Management LLC grew its stake in WesBanco by 807.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 1,614 shares in the last quarter. Quarry LP acquired a new position in shares of WesBanco during the 4th quarter worth approximately $89,000. Finally, Amalgamated Bank raised its stake 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 in the last quarter. 61.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Royal Bank Of Canada decreased their price objective on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. Keefe, Bruyette & Woods dropped their price objective on WesBanco from $43.00 to $40.00 and set an "outperform" rating on the stock in a research note on Monday, May 5th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, WesBanco presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.83.

WesBanco Stock Performance

Shares of NASDAQ:WSBC traded up $0.08 during mid-day trading on Friday, reaching $29.52. The company had a trading volume of 317,534 shares, compared to its average volume of 606,758. WesBanco, Inc. has a one year low of $26.42 and a one year high of $37.36. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.50. The company's 50-day moving average price is $31.54 and its 200-day moving average price is $31.80. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 17.78 and a beta of 0.87.

WesBanco (NASDAQ:WSBC - Get Free Report) last announced 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 analyst estimates of $261.14 million. WesBanco had a return on equity of 7.72% and a net margin of 11.65%. During the same period in the prior year, the company earned $0.49 EPS. As a group, equities research analysts anticipate that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Friday, June 6th. WesBanco's dividend payout ratio is presently 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.