Strs Ohio Lowers Stock Position in WesBanco, Inc. (NASDAQ:WSBC)

Strs Ohio cut its stake in shares of WesBanco, Inc. (NASDAQ:WSBC) by 12.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,200 shares of the financial services provider’s stock after selling 4,000 shares during the period. Strs Ohio’s holdings in WesBanco were worth $884,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cerity Partners LLC raised its position in WesBanco by 23.2% in the fourth quarter. Cerity Partners LLC now owns 30,960 shares of the financial services provider’s stock valued at $971,000 after purchasing an additional 5,831 shares during the period. Greylin Investment Management Inc acquired a new position in WesBanco during the 4th quarter worth about $246,000. International Assets Investment Management LLC boosted its holdings in WesBanco by 3,037.0% during the 4th quarter. International Assets Investment Management LLC now owns 102,549 shares of the financial services provider’s stock valued at $3,269,000 after acquiring an additional 99,280 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in WesBanco by 3.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,336 shares of the financial services provider’s stock valued at $826,000 after acquiring an additional 900 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in WesBanco by 11.8% during the fourth quarter. Stratos Wealth Partners LTD. now owns 9,397 shares of the financial services provider’s stock worth $295,000 after purchasing an additional 995 shares during the period. 61.41% of the stock is owned by hedge funds and other institutional investors.

WesBanco Trading Down 2.5 %

NASDAQ:WSBC opened at $28.28 on Thursday. WesBanco, Inc. has a 1 year low of $19.84 and a 1 year high of $32.20. The stock has a market cap of $1.68 billion, a P/E ratio of 11.78 and a beta of 0.86. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a 50-day simple moving average of $28.64 and a 200-day simple moving average of $28.23.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 EPS for the quarter, meeting the consensus estimate of $0.56. The company had revenue of $225.96 million for the quarter, compared to analyst estimates of $147.81 million. WesBanco had a net margin of 17.52% and a return on equity of 6.54%. During the same period in the prior year, the firm posted $0.71 earnings per share. As a group, analysts anticipate that WesBanco, Inc. will post 2.27 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were paid a $0.36 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.44 annualized dividend and a yield of 5.09%. WesBanco’s dividend payout ratio is presently 60.00%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $32.00 price objective on shares of WesBanco in a research note on Tuesday, April 9th. Raymond James raised shares of WesBanco from a “market perform” rating to an “outperform” rating and set a $34.00 price target for the company in a research report on Friday, January 5th. Stephens reaffirmed an “equal weight” rating and set a $30.00 price objective on shares of WesBanco in a research report on Wednesday. Finally, Hovde Group decreased their target price on WesBanco from $36.00 to $34.00 and set an “outperform” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, WesBanco has an average rating of “Hold” and a consensus price target of $31.17.

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.