Geode Capital Management LLC increased its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 5.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,502,057 shares of the financial services provider's stock after purchasing an additional 82,987 shares during the quarter. Geode Capital Management LLC owned 2.25% of WesBanco worth $48,888,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new stake in shares of WesBanco in the fourth quarter worth $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 position in shares of WesBanco by 18.7% in the 4th quarter. Inspire Advisors LLC now owns 63,184 shares of the financial services provider's stock worth $2,056,000 after purchasing an additional 9,955 shares during the last quarter. Johnson Investment Counsel Inc. bought a new stake in WesBanco in the fourth quarter valued at about $323,000. Finally, Magnolia Private Wealth LLC bought a new position in WesBanco during the fourth quarter worth $269,000. Hedge funds and other institutional investors own 61.41% of the company's stock.
WesBanco Stock Performance
Shares of NASDAQ WSBC traded down $0.28 during midday trading on Friday, reaching $28.30. 1,907,238 shares of the company traded hands, compared to its average volume of 410,619. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 12.63 and a beta of 0.76. The stock has a 50-day moving average price of $31.78 and a 200 day moving average price of $32.74. WesBanco, Inc. has a 52 week low of $25.56 and a 52 week 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.
WesBanco (NASDAQ:WSBC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, beating 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%. Sell-side analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.
WesBanco Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were paid a dividend of $0.37 per share. The ex-dividend date was Monday, March 10th. This represents a $1.48 annualized dividend and a yield of 5.23%. WesBanco's dividend payout ratio is currently 66.07%.
Analyst Ratings Changes
WSBC has been the topic of a number of research reports. Raymond James dropped their target price on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 2nd. DA Davidson lifted their target price on WesBanco from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Stephens reaffirmed an "equal weight" rating and set a $39.00 target price on shares of WesBanco in a report on Thursday, January 23rd. StockNews.com raised WesBanco from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. Finally, Piper Sandler initiated coverage on WesBanco in a research report on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 target price on the stock. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $39.43.
View Our Latest Research Report on WSBC
WesBanco Company Profile
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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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