WesBanco, Inc. (NASDAQ:WSBC) Stock Position Lowered by Wesbanco Bank Inc.

Wesbanco Bank Inc. trimmed its holdings in WesBanco, Inc. (NASDAQ:WSBC) by 1.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,428,894 shares of the financial services provider’s stock after selling 23,583 shares during the period. WesBanco makes up about 1.5% of Wesbanco Bank Inc.’s holdings, making the stock its 10th largest holding. Wesbanco Bank Inc. owned approximately 2.13% of WesBanco worth $44,239,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of WesBanco by 11.7% during the fourth quarter. Vanguard Group Inc. now owns 6,710,539 shares of the financial services provider’s stock valued at $218,361,000 after acquiring an additional 705,483 shares during the last quarter. Earnest Partners LLC boosted its position in shares of WesBanco by 27.1% during the 4th quarter. Earnest Partners LLC now owns 1,777,002 shares of the financial services provider’s stock worth $57,824,000 after purchasing an additional 379,386 shares during the period. Barclays PLC boosted its position in shares of WesBanco by 104.8% during the 4th quarter. Barclays PLC now owns 371,347 shares of the financial services provider’s stock worth $12,084,000 after purchasing an additional 190,022 shares during the period. Raymond James Financial Inc. acquired a new stake in WesBanco in the 4th quarter valued at approximately $5,345,000. Finally, Segall Bryant & Hamill LLC raised its position in WesBanco by 25.2% in the fourth quarter. Segall Bryant & Hamill LLC now owns 780,444 shares of the financial services provider’s stock valued at $25,396,000 after purchasing an additional 156,903 shares during the period. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. 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 research report on Monday, May 5th. Royal Bank of Canada decreased their target price on WesBanco from $36.00 to $34.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 1st. Raymond James dropped their target price 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. Finally, Piper Sandler assumed coverage on shares of WesBanco in a research report on Thursday, April 3rd. They set an “overweight” rating and a $37.00 price target on the stock. Three research 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.71.

WesBanco Stock Up 1.4%

Shares of NASDAQ:WSBC opened at $30.85 on Monday. WesBanco, Inc. has a fifty-two week low of $25.56 and a fifty-two week high of $37.36. The firm’s 50 day moving average price is $29.89 and its 200 day moving average price is $32.38. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 13.77 and a beta of 0.85.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data 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 analyst estimates of $206.63 million. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. During the same period last year, the business earned $0.56 EPS. As a group, equities research analysts predict that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date of this dividend is Friday, June 6th. WesBanco’s dividend payout ratio (DPR) is 96.73%.

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.