Charles Schwab Investment Management Inc. raised its stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 872,035 shares of the financial services provider's stock after buying an additional 50,704 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.30% of WesBanco worth $28,376,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Atria Investments Inc increased its stake in WesBanco by 22.7% in the 3rd quarter. Atria Investments Inc now owns 23,103 shares of the financial services provider's stock valued at $688,000 after purchasing an additional 4,269 shares in the last quarter. Empowered Funds LLC increased its position in shares of WesBanco by 5.3% in the third quarter. Empowered Funds LLC now owns 185,932 shares of the financial services provider's stock valued at $5,537,000 after buying an additional 9,380 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of WesBanco during the 3rd quarter worth $411,000. Landscape Capital Management L.L.C. purchased a new stake in shares of WesBanco in the 3rd quarter worth about $428,000. Finally, Cerity Partners LLC grew its stake in WesBanco by 3.0% in the 3rd quarter. Cerity Partners LLC now owns 30,049 shares of the financial services provider's stock valued at $895,000 after acquiring an additional 867 shares during the last quarter. 61.41% of the stock is currently owned by institutional investors and hedge funds.
WesBanco Stock Down 0.7 %
Shares of WesBanco stock traded down $0.21 on Friday, hitting $31.55. 2,173,344 shares of the company's stock traded hands, compared to its average volume of 617,131. WesBanco, Inc. has a 52-week low of $25.56 and a 52-week high of $37.36. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. The stock has a market cap of $2.11 billion, a P/E ratio of 14.08 and a beta of 0.84. The firm's 50-day moving average is $33.82 and its 200 day moving average is $32.95.
WesBanco (NASDAQ:WSBC - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.17. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. Equities analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current year.
WesBanco Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 annualized dividend and a dividend yield of 4.69%. WesBanco's dividend payout ratio is presently 66.07%.
Wall Street Analyst Weigh In
WSBC has been the subject of a number of research reports. Raymond James upgraded shares of WesBanco from an "outperform" rating to a "strong-buy" rating and lifted their target price for the stock from $35.00 to $44.00 in a research report on Friday, December 6th. Keefe, Bruyette & Woods raised WesBanco from a "market perform" rating to an "outperform" rating and upped their target price for the company from $40.00 to $44.00 in a research note on Monday, February 10th. StockNews.com raised WesBanco from a "sell" rating to a "hold" rating in a research report on Tuesday, February 4th. DA Davidson upped their price objective on WesBanco from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Finally, Stephens reaffirmed an "equal weight" rating and set a $39.00 price objective on shares of WesBanco in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $40.83.
Check Out Our Latest Report on WSBC
About WesBanco
(
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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