Renaissance Technologies LLC Has $1.83 Million Stock Position in WesBanco, Inc. (NASDAQ:WSBC)

Renaissance Technologies LLC trimmed its holdings in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 74.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,347 shares of the financial services provider's stock after selling 161,025 shares during the quarter. Renaissance Technologies LLC owned 0.08% of WesBanco worth $1,834,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in WSBC. Barclays PLC raised its position in shares of WesBanco by 151.1% during the third quarter. Barclays PLC now owns 181,325 shares of the financial services provider's stock worth $5,399,000 after purchasing an additional 109,104 shares during the period. Franklin Resources Inc. purchased a new stake in WesBanco during the third quarter valued at about $1,148,000. JPMorgan Chase & Co. boosted its holdings in shares of WesBanco by 17.1% in the third quarter. JPMorgan Chase & Co. now owns 232,568 shares of the financial services provider's stock worth $6,926,000 after buying an additional 34,008 shares during the period. Hilltop National Bank increased its position in shares of WesBanco by 19.6% in the fourth quarter. Hilltop National Bank now owns 2,518 shares of the financial services provider's stock worth $82,000 after acquiring an additional 413 shares in the last quarter. Finally, Moody National Bank Trust Division raised its holdings in shares of WesBanco by 33.0% during the fourth quarter. Moody National Bank Trust Division now owns 29,872 shares of the financial services provider's stock valued at $972,000 after acquiring an additional 7,405 shares during the period. Institutional investors and hedge funds own 61.41% of the company's stock.

WesBanco Stock Up 1.6 %

Shares of NASDAQ WSBC traded up $0.49 during trading hours on Friday, hitting $30.42. The stock had a trading volume of 99,298 shares, compared to its average volume of 423,191. The company has a market capitalization of $2.04 billion, a P/E ratio of 13.59 and a beta of 0.76. The firm's 50-day moving average price is $30.57 and its two-hundred day moving average price is $32.75. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. WesBanco, Inc. has a 52 week low of $25.56 and a 52 week high of $37.36.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.06. The business had revenue of $253.23 million for the quarter, compared to the consensus estimate of $206.63 million. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. During the same quarter last year, the firm earned $0.56 EPS. Analysts anticipate that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.48 annualized dividend and a dividend yield of 4.87%. WesBanco's dividend payout ratio (DPR) is presently 96.73%.

Analysts Set New Price Targets

A number of research firms recently commented on WSBC. DA Davidson raised their price objective on shares of WesBanco from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. StockNews.com raised WesBanco from a "sell" rating to a "hold" rating in a research report on Tuesday, February 4th. Raymond James decreased their price objective on WesBanco from $44.00 to $38.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 2nd. Stephens reiterated an "equal weight" rating and issued a $39.00 target price on shares of WesBanco in a report on Thursday, January 23rd. Finally, Piper Sandler assumed coverage on shares of WesBanco in a report on Thursday, April 3rd. They set an "overweight" rating and a $37.00 price target for the company. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.29.

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.