Magnolia Private Wealth LLC Takes Position in WesBanco, Inc. (NASDAQ:WSBC)

Magnolia Private Wealth LLC purchased a new stake in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,275 shares of the financial services provider's stock, valued at approximately $269,000.

Several other large investors have also made changes to their positions in the business. Denali Advisors LLC lifted its position in shares of WesBanco by 93.5% in the fourth quarter. Denali Advisors LLC now owns 130,200 shares of the financial services provider's stock valued at $4,237,000 after acquiring an additional 62,900 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of WesBanco by 32.7% in the fourth quarter. Bank of New York Mellon Corp now owns 577,352 shares of the financial services provider's stock valued at $18,787,000 after acquiring an additional 142,285 shares in the last quarter. IFP Advisors Inc lifted its position in shares of WesBanco by 1.3% in the fourth quarter. IFP Advisors Inc now owns 22,873 shares of the financial services provider's stock valued at $744,000 after acquiring an additional 304 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of WesBanco by 7.2% in the fourth quarter. Handelsbanken Fonder AB now owns 11,900 shares of the financial services provider's stock valued at $387,000 after acquiring an additional 800 shares in the last quarter. Finally, Ieq Capital LLC purchased a new position in shares of WesBanco in the fourth quarter valued at about $459,000. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

WesBanco Trading Down 0.3 %

WSBC stock traded down $0.09 during midday trading on Friday, reaching $35.07. 4,233,916 shares of the company traded hands, compared to its average volume of 577,229. 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 quick ratio of 0.93 and a current ratio of 0.93. The business has a 50 day moving average of $33.93 and a 200-day moving average of $32.87. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 15.66 and a beta of 0.84.

Remove Ads

WesBanco (NASDAQ:WSBC - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) 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, sell-side analysts expect 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 will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a dividend of $0.37 per share. The ex-dividend date is Monday, March 10th. This represents a $1.48 dividend on an annualized basis and a yield of 4.22%. WesBanco's dividend payout ratio (DPR) is presently 66.07%.

Wall Street Analyst Weigh In

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

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.