F M Investments LLC Trims Stock Holdings in WesBanco, Inc. (NASDAQ:WSBC)

F M Investments LLC reduced its holdings in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 55.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 116,037 shares of the financial services provider's stock after selling 143,377 shares during the quarter. F M Investments LLC owned about 0.17% of WesBanco worth $3,776,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets raised its position in WesBanco by 21.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 21,380 shares of the financial services provider's stock worth $637,000 after buying an additional 3,844 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of WesBanco by 28.6% during the third quarter. Captrust Financial Advisors now owns 10,355 shares of the financial services provider's stock valued at $308,000 after purchasing an additional 2,302 shares during the period. Point72 Asset Management L.P. purchased a new stake in WesBanco in the third quarter worth about $56,000. Stifel Financial Corp boosted its position in WesBanco by 41.4% during the third quarter. Stifel Financial Corp now owns 41,658 shares of the financial services provider's stock valued at $1,241,000 after purchasing an additional 12,190 shares in the last quarter. Finally, State Street Corp raised its stake in WesBanco by 1.8% in the third quarter. State Street Corp now owns 1,934,453 shares of the financial services provider's stock valued at $58,313,000 after buying an additional 35,030 shares during the last quarter. Hedge funds and other institutional investors own 61.41% of the company's stock.

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WesBanco Stock Up 2.8 %

WesBanco stock traded up $0.78 during midday trading on Wednesday, reaching $28.53. The stock had a trading volume of 334,974 shares, compared to its average volume of 398,647. WesBanco, Inc. has a 1-year low of $25.56 and a 1-year high of $37.36. The stock has a market capitalization of $1.91 billion, a P/E ratio of 12.74 and a beta of 0.76. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. The firm's fifty day simple moving average is $32.25 and its 200-day simple moving average is $32.78.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.17. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. As a group, analysts expect that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 5.19%. The ex-dividend date of this dividend was Monday, March 10th. WesBanco's dividend payout ratio (DPR) is currently 66.07%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WSBC. Piper Sandler started coverage on shares of WesBanco in a research report on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 price objective for the company. StockNews.com raised WesBanco from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. DA Davidson upped their price objective on shares of WesBanco from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods upgraded shares of WesBanco from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $40.00 to $44.00 in a research report on Monday, February 10th. Finally, Raymond James reduced their price target on WesBanco from $44.00 to $38.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 2nd. Three equities 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $39.43.

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.