RiverFront Investment Group LLC acquired a new stake in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 18,000 shares of the financial services provider's stock, valued at approximately $586,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Asset Management L.P. acquired a new stake in WesBanco in the third quarter valued at approximately $56,000. Principal Securities Inc. increased its position in shares of WesBanco by 40.9% during the fourth quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider's stock worth $68,000 after purchasing an additional 603 shares in the last quarter. Roble Belko & Company Inc purchased a new stake in shares of WesBanco during the 4th quarter valued at $78,000. Allworth Financial LP boosted its position in shares of WesBanco by 668.5% in the 4th quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider's stock worth $78,000 after purchasing an additional 2,146 shares in the last quarter. Finally, Hilltop National Bank grew its stake in WesBanco by 19.6% during the 4th quarter. Hilltop National Bank now owns 2,518 shares of the financial services provider's stock worth $82,000 after buying an additional 413 shares during the last quarter. Institutional investors own 61.41% of the company's stock.
Analyst Ratings Changes
Several brokerages have weighed in on WSBC. Piper Sandler started coverage on WesBanco in a report on Thursday. They issued an "overweight" rating and a $37.00 price target for the company. DA Davidson lifted their target price on shares of WesBanco from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Stephens reissued an "equal weight" rating and set a $39.00 target price on shares of WesBanco in a research report on Thursday, January 23rd. StockNews.com raised shares of WesBanco from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. Finally, Raymond James lowered their price objective on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating for the company in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $39.43.
Read Our Latest Analysis on WSBC
WesBanco Stock Performance
Shares of WSBC stock traded down $2.18 during trading hours on Thursday, hitting $28.87. The company's stock had a trading volume of 116,160 shares, compared to its average volume of 376,460. The company has a 50 day moving average of $33.82 and a 200 day moving average of $33.00. The stock has a market cap of $1.93 billion, a PE ratio of 12.89 and a beta of 0.84. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. WesBanco, Inc. has a 12-month low of $25.56 and a 12-month high of $37.36.
WesBanco (NASDAQ:WSBC - Get Free Report) last posted its earnings results 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, sell-side analysts forecast that WesBanco, Inc. will post 3.24 EPS for the current fiscal 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 given 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 5.13%. WesBanco's dividend payout ratio (DPR) is 66.07%.
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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