Invesco Ltd. decreased its position in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 8.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 830,563 shares of the financial services provider's stock after selling 72,434 shares during the quarter. Invesco Ltd. owned approximately 1.24% of WesBanco worth $27,027,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of Montreal Can boosted its position in shares of WesBanco by 3.4% during the 4th quarter. Bank of Montreal Can now owns 20,092 shares of the financial services provider's stock worth $654,000 after purchasing an additional 665 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in WesBanco by 5.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 241,510 shares of the financial services provider's stock valued at $7,859,000 after acquiring an additional 12,777 shares during the period. Dynamic Technology Lab Private Ltd increased its holdings in shares of WesBanco by 245.1% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 24,556 shares of the financial services provider's stock valued at $799,000 after acquiring an additional 17,441 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of WesBanco by 13.9% in the fourth quarter. Wells Fargo & Company MN now owns 419,093 shares of the financial services provider's stock valued at $13,637,000 after buying an additional 51,285 shares in the last quarter. Finally, Landscape Capital Management L.L.C. boosted its position in shares of WesBanco by 11.0% during the fourth quarter. Landscape Capital Management L.L.C. now owns 15,956 shares of the financial services provider's stock valued at $519,000 after buying an additional 1,584 shares during the last quarter. Institutional investors and hedge funds own 61.41% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have recently commented on the company. Piper Sandler assumed coverage on WesBanco in a research report on Thursday, April 3rd. They set an "overweight" rating and a $37.00 price target on the stock. Stephens restated an "equal weight" rating and set a $39.00 price target on shares of WesBanco in a report on Thursday, January 23rd. Raymond James reduced their price objective on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 2nd. StockNews.com upgraded WesBanco from a "sell" rating to a "hold" rating in a research note on Tuesday, February 4th. Finally, DA Davidson raised their target price on shares of WesBanco from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.43.
View Our Latest Research Report on WSBC
WesBanco Stock Performance
Shares of NASDAQ:WSBC traded down $0.13 during midday trading on Thursday, hitting $29.46. The company had a trading volume of 59,129 shares, compared to its average volume of 414,592. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 13.13 and a beta of 0.76. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93. The company has a fifty day moving average of $31.32 and a two-hundred day moving average of $32.74. WesBanco, Inc. has a 12-month low of $25.56 and a 12-month high of $37.36.
WesBanco (NASDAQ:WSBC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.17. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. On average, equities research analysts expect that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.
WesBanco Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 5.02%. The ex-dividend date was Monday, March 10th. WesBanco's payout ratio is 66.07%.
About WesBanco
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Free Report)
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.
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