Oppenheimer Asset Management Inc. Raises Stock Position in WesBanco, Inc. (NASDAQ:WSBC)

Oppenheimer Asset Management Inc. raised its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 32.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,396 shares of the financial services provider's stock after purchasing an additional 14,950 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.09% of WesBanco worth $1,965,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WSBC. Wellington Management Group LLP bought a new position in WesBanco in the third quarter worth approximately $116,114,000. Verition Fund Management LLC purchased a new position in shares of WesBanco during the third quarter valued at $12,333,000. F M Investments LLC bought a new stake in shares of WesBanco in the third quarter valued at about $7,726,000. MCF Advisors LLC lifted its stake in WesBanco by 17,801.0% in the fourth quarter. MCF Advisors LLC now owns 170,955 shares of the financial services provider's stock worth $5,626,000 after acquiring an additional 170,000 shares during the period. Finally, New York State Common Retirement Fund grew its holdings in WesBanco by 30.5% during the 4th quarter. New York State Common Retirement Fund now owns 653,656 shares of the financial services provider's stock worth $21,270,000 after acquiring an additional 152,766 shares in the last quarter. 61.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WSBC. DA Davidson increased their price objective on shares of WesBanco from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods upgraded WesBanco from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $40.00 to $44.00 in a report on Monday, February 10th. StockNews.com upgraded WesBanco from a "sell" rating to a "hold" rating in a research note on Tuesday, February 4th. Stephens reiterated an "equal weight" rating and issued a $39.00 target price on shares of WesBanco in a research note on Thursday, January 23rd. Finally, Raymond James raised shares of WesBanco from an "outperform" rating to a "strong-buy" rating and increased their price target for the company 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 given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $40.83.

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WesBanco Stock Up 0.5 %

NASDAQ:WSBC traded up $0.15 during mid-day trading on Thursday, hitting $32.52. 268,000 shares of the company's stock traded hands, compared to its average volume of 590,292. The company has a fifty day moving average of $33.97 and a 200 day moving average of $32.96. 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 twelve month low of $25.56 and a twelve month high of $37.36. The company has a market capitalization of $2.17 billion, a P/E ratio of 14.49 and a beta of 0.84.

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

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a $0.37 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.55%. WesBanco's dividend payout ratio is currently 66.07%.

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.