Cubist Systematic Strategies LLC Cuts Stock Holdings in WesBanco, Inc. (NASDAQ:WSBC)

Cubist Systematic Strategies LLC trimmed its position in shares of WesBanco, Inc. (NASDAQ:WSBC) by 47.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,800 shares of the financial services provider’s stock after selling 54,503 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.09% of WesBanco worth $1,978,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC purchased a new position in shares of WesBanco during the 4th quarter valued at approximately $328,000. Franklin Resources Inc. purchased a new position in shares of WesBanco during the 3rd quarter valued at approximately $1,148,000. Inspire Advisors LLC increased its holdings in shares of WesBanco by 18.7% during the 4th quarter. Inspire Advisors LLC now owns 63,184 shares of the financial services provider’s stock valued at $2,056,000 after purchasing an additional 9,955 shares in the last quarter. Johnson Investment Counsel Inc. acquired a new position in WesBanco in the 4th quarter worth about $323,000. Finally, Magnolia Private Wealth LLC acquired a new position in WesBanco in the 4th quarter worth about $269,000. 61.41% of the stock is owned by hedge funds and other institutional investors.

WesBanco Price Performance

WSBC stock opened at $30.79 on Monday. WesBanco, Inc. has a 1 year low of $25.56 and a 1 year high of $37.36. 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 firm has a market capitalization of $2.06 billion, a PE ratio of 13.75 and a beta of 0.81. The business has a 50 day simple moving average of $30.06 and a 200-day simple moving average of $32.75.

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

WesBanco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a $0.37 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.48 annualized dividend and a dividend yield of 4.81%. WesBanco’s dividend payout ratio is currently 96.73%.

Analyst Ratings Changes

A number of research firms recently weighed in on WSBC. Raymond James reduced their price target on WesBanco from $44.00 to $38.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced 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. Stephens reaffirmed an “equal weight” rating and issued a $39.00 price target on shares of WesBanco in a report on Thursday, January 23rd. Royal Bank of Canada decreased their price objective on shares of WesBanco from $36.00 to $34.00 and set a “sector perform” rating on the stock in a report on Thursday, May 1st. Finally, StockNews.com raised shares of WesBanco from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Three investment 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.71.

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.