Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,098 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC) by 9.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,617 shares of the financial services provider’s stock after acquiring an additional 1,098 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in WesBanco were worth $396,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Sound Income Strategies LLC grew its holdings in shares of WesBanco by 2,688.7% during the fourth quarter. Sound Income Strategies LLC now owns 1,478 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 1,425 shares in the last quarter. EMC Capital Management bought a new position in shares of WesBanco in the 3rd quarter worth $51,000. SG Americas Securities LLC purchased a new stake in shares of WesBanco during the 3rd quarter valued at $223,000. Watershed Asset Management L.L.C. lifted its holdings in shares of WesBanco by 12.2% during the 3rd quarter. Watershed Asset Management L.L.C. now owns 10,064 shares of the financial services provider’s stock worth $246,000 after acquiring an additional 1,092 shares during the last quarter. Finally, Greylin Investment Management Inc purchased a new position in WesBanco in the fourth quarter worth $246,000. 61.41% of the stock is currently owned by institutional investors.

WesBanco Stock Up 1.1 %

Shares of WesBanco stock opened at $28.28 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. WesBanco, Inc. has a 52-week low of $19.84 and a 52-week high of $32.20. The company’s 50 day moving average price is $28.45 and its 200-day moving average price is $28.32. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 11.78 and a beta of 0.88.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.56. The business 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 quarter last year, the firm earned $0.71 EPS. Equities research analysts forecast that WesBanco, Inc. will post 2.22 EPS for the current year.

WesBanco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.44 dividend on an annualized basis and a yield of 5.09%. WesBanco’s dividend payout ratio is presently 60.00%.

Analyst Upgrades and Downgrades

WSBC has been the topic of a number of research reports. Royal Bank of Canada restated a “sector perform” rating and set a $32.00 price target on shares of WesBanco in a research report 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 objective for the company in a research note on Friday, January 5th. Stephens decreased their target price on shares of WesBanco from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Finally, Hovde Group cut their price target on shares of WesBanco from $36.00 to $34.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. One investment 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $30.60.

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.