Wells Fargo & Company MN Has $13.64 Million Stake in WesBanco, Inc. (NASDAQ:WSBC)

Wells Fargo & Company MN grew its holdings in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 13.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 419,093 shares of the financial services provider's stock after acquiring an additional 51,285 shares during the quarter. Wells Fargo & Company MN owned 0.63% of WesBanco worth $13,637,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. IFP Advisors Inc grew its position in shares of WesBanco by 1.3% in the 4th quarter. IFP Advisors Inc now owns 22,873 shares of the financial services provider's stock valued at $744,000 after purchasing an additional 304 shares during the period. Hilltop National Bank lifted its stake in WesBanco by 19.6% in the fourth quarter. Hilltop National Bank now owns 2,518 shares of the financial services provider's stock valued at $82,000 after buying an additional 413 shares in the last quarter. Principal Securities Inc. boosted its holdings in shares of WesBanco by 40.9% in the fourth quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider's stock valued at $68,000 after buying an additional 603 shares during the period. Hazlett Burt & Watson Inc. increased its position in shares of WesBanco by 12.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 6,331 shares of the financial services provider's stock worth $206,000 after acquiring an additional 695 shares in the last quarter. Finally, Avantax Planning Partners Inc. raised its holdings in shares of WesBanco by 1.6% during the fourth quarter. Avantax Planning Partners Inc. now owns 48,473 shares of the financial services provider's stock worth $1,577,000 after acquiring an additional 756 shares during the period. Institutional investors and hedge funds own 61.41% of the company's stock.

Analyst Upgrades and Downgrades

WSBC has been the subject of a number of research analyst reports. Raymond James reduced their target price 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, April 2nd. StockNews.com upgraded WesBanco from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. DA Davidson boosted their target price on WesBanco from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Stephens reaffirmed an "equal weight" rating and set a $39.00 price target on shares of WesBanco in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods raised shares of WesBanco from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $40.00 to $44.00 in a research report on Monday, February 10th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $39.43.

WesBanco Stock Performance

Shares of WesBanco stock traded down $0.28 during trading on Friday, hitting $28.30. 1,907,238 shares of the stock were exchanged, compared to its average volume of 410,619. WesBanco, Inc. has a 1-year low of $25.56 and a 1-year high of $37.36. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 12.63 and a beta of 0.76. The company has a fifty day moving average price of $31.78 and a 200-day moving average price of $32.74. 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 (NASDAQ:WSBC - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, topping the consensus estimate 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, equities analysts predict that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 5.23%. The ex-dividend date of this dividend was Monday, March 10th. WesBanco's payout ratio is presently 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.