14,115 Shares in WesBanco, Inc. (NASDAQ:WSBC) Purchased by Ieq Capital LLC

Ieq Capital LLC bought a new position in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,115 shares of the financial services provider's stock, valued at approximately $459,000.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of WesBanco by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,419,070 shares of the financial services provider's stock worth $42,268,000 after purchasing an additional 32,879 shares during the last quarter. Franklin Resources Inc. acquired a new position in WesBanco during the 3rd quarter worth approximately $1,148,000. FMR LLC grew its holdings in shares of WesBanco by 25.8% in the 3rd quarter. FMR LLC now owns 695,487 shares of the financial services provider's stock valued at $20,712,000 after acquiring an additional 142,597 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in WesBanco during the third quarter worth $212,000. Finally, Cerity Partners LLC raised its stake in WesBanco by 3.0% in the third quarter. Cerity Partners LLC now owns 30,049 shares of the financial services provider's stock valued at $895,000 after buying an additional 867 shares during the period. 61.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on WSBC shares. DA Davidson boosted their price target on WesBanco from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Raymond James raised WesBanco from an "outperform" rating to a "strong-buy" rating and upped their price target for the stock from $35.00 to $44.00 in a research note on Friday, December 6th. Keefe, Bruyette & Woods raised WesBanco from a "market perform" rating to an "outperform" rating and increased their price target for the company from $40.00 to $44.00 in a research report on Monday, February 10th. StockNews.com raised shares of WesBanco from a "sell" rating to a "hold" rating in a research report on Tuesday, February 4th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $39.00 price objective on shares of WesBanco in a research report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $40.83.

Remove Ads

WesBanco Price Performance

NASDAQ:WSBC traded down $0.09 during mid-day trading on Friday, reaching $35.07. The stock had a trading volume of 4,233,916 shares, compared to its average volume of 577,229. 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 one year low of $25.56 and a one year high of $37.36. The firm has a 50 day moving average price of $33.93 and a two-hundred day moving average price of $32.89. The stock has a market capitalization of $2.35 billion, a P/E ratio of 15.66 and a beta of 0.84.

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

WesBanco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend is Monday, March 10th. WesBanco's payout ratio is 66.07%.

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.