Vanguard Group Inc. Grows Position in WesBanco, Inc. (NASDAQ:WSBC)

Vanguard Group Inc. lifted its position in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 11.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,710,539 shares of the financial services provider's stock after purchasing an additional 705,483 shares during the quarter. Vanguard Group Inc. owned about 10.04% of WesBanco worth $218,361,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC increased its stake in WesBanco by 25.8% in the 3rd quarter. FMR LLC now owns 695,487 shares of the financial services provider's stock worth $20,712,000 after acquiring an additional 142,597 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of WesBanco by 21.9% in the third quarter. BNP Paribas Financial Markets now owns 21,380 shares of the financial services provider's stock worth $637,000 after purchasing an additional 3,844 shares during the last quarter. Walleye Capital LLC purchased a new stake in WesBanco in the third quarter valued at approximately $296,000. Captrust Financial Advisors lifted its position in WesBanco by 28.6% during the third quarter. Captrust Financial Advisors now owns 10,355 shares of the financial services provider's stock valued at $308,000 after purchasing an additional 2,302 shares during the last quarter. Finally, Centiva Capital LP purchased a new position in WesBanco in the 3rd quarter worth approximately $657,000. Hedge funds and other institutional investors own 61.41% of the company's stock.

WesBanco Trading Down 5.7 %

NASDAQ:WSBC traded down $1.63 during mid-day trading on Thursday, reaching $27.16. 714,924 shares of the company's stock traded hands, compared to its average volume of 393,783. The company has a 50 day moving average price of $32.74 and a 200-day moving average price of $32.83. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 12.13 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. WesBanco, Inc. has a 12-month low of $25.56 and a 12-month high of $37.36.

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

WesBanco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a $0.37 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.48 annualized dividend and a yield of 5.45%. WesBanco's dividend payout ratio (DPR) is presently 66.07%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Raymond James dropped their price objective on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 2nd. StockNews.com raised shares of WesBanco from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. DA Davidson boosted their price target 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 restated an "equal weight" rating and set a $39.00 price target on shares of WesBanco in a research report on Thursday, January 23rd. Finally, Piper Sandler initiated coverage on WesBanco in a report on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $39.43.

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.