Renaissance Technologies LLC Lowers Stock Position in WesBanco, Inc. (NASDAQ:WSBC)

Renaissance Technologies LLC trimmed its position in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 74.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,347 shares of the financial services provider's stock after selling 161,025 shares during the quarter. Renaissance Technologies LLC owned about 0.08% of WesBanco worth $1,834,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WSBC. Bank of Montreal Can raised its position in shares of WesBanco by 3.4% during the 4th quarter. Bank of Montreal Can now owns 20,092 shares of the financial services provider's stock valued at $654,000 after purchasing an additional 665 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of WesBanco by 5.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 241,510 shares of the financial services provider's stock valued at $7,859,000 after acquiring an additional 12,777 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in shares of WesBanco by 245.1% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 24,556 shares of the financial services provider's stock worth $799,000 after acquiring an additional 17,441 shares during the period. Wells Fargo & Company MN raised its stake in WesBanco by 13.9% during the 4th quarter. Wells Fargo & Company MN now owns 419,093 shares of the financial services provider's stock valued at $13,637,000 after purchasing an additional 51,285 shares during the period. Finally, Landscape Capital Management L.L.C. lifted its holdings in WesBanco by 11.0% in the 4th quarter. Landscape Capital Management L.L.C. now owns 15,956 shares of the financial services provider's stock worth $519,000 after purchasing an additional 1,584 shares in the last quarter. Institutional investors own 61.41% of the company's stock.

WesBanco Trading Down 1.0 %

Shares of WSBC stock opened at $29.55 on Friday. The company has a market cap of $1.98 billion, a PE ratio of 13.19 and a beta of 0.76. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93. The stock's 50 day simple moving average is $31.05 and its two-hundred day simple moving average is $32.77. WesBanco, Inc. has a 1 year low of $25.56 and a 1 year high of $37.36.

WesBanco (NASDAQ:WSBC - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share 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%. Research analysts predict that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.01%. WesBanco's dividend payout ratio is 66.07%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WSBC. Piper Sandler began coverage on shares of WesBanco in a research report on Thursday, April 3rd. They set an "overweight" rating and a $37.00 price objective on the stock. StockNews.com upgraded shares of WesBanco from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. Stephens reissued an "equal weight" rating and set a $39.00 price objective on shares of WesBanco in a report on Thursday, January 23rd. Raymond James reduced their target price on WesBanco from $44.00 to $38.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 2nd. Finally, DA Davidson increased 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. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $39.43.

About WesBanco

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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