Franklin Resources Inc. Sells 7,060 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Franklin Resources Inc. lessened its stake in WesBanco, Inc. (NASDAQ:WSBCFree Report) by 10.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 61,286 shares of the financial services provider’s stock after selling 7,060 shares during the period. Franklin Resources Inc. owned about 0.10% of WesBanco worth $1,923,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. DiNuzzo Private Wealth Inc. bought a new stake in shares of WesBanco during the 4th quarter valued at about $31,000. Principal Securities Inc. bought a new stake in shares of WesBanco during the 4th quarter valued at about $43,000. Sound Income Strategies LLC boosted its position in shares of WesBanco by 2,688.7% during the 4th quarter. Sound Income Strategies LLC now owns 1,478 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 1,425 shares in the last quarter. EMC Capital Management bought a new stake in shares of WesBanco during the 3rd quarter valued at about $51,000. Finally, Almanack Investment Partners LLC. bought a new stake in shares of WesBanco during the 4th quarter valued at about $201,000. Institutional investors own 61.41% of the company’s stock.

WesBanco Stock Performance

Shares of WesBanco stock opened at $27.00 on Tuesday. The company has a market cap of $1.60 billion, a PE ratio of 11.25 and a beta of 0.85. WesBanco, Inc. has a 52 week low of $23.00 and a 52 week high of $32.20. The business has a 50 day moving average price of $28.16 and a 200-day moving average price of $28.84. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.58.

WesBanco (NASDAQ:WSBCGet Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 EPS for the quarter, meeting analysts’ consensus estimates of $0.56. The company had revenue of $225.96 million during the quarter, compared to the consensus estimate of $147.81 million. WesBanco had a return on equity of 6.50% and a net margin of 17.52%. During the same period last year, the business posted $0.71 earnings per share. Equities analysts anticipate that WesBanco, Inc. will post 2.21 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date of this dividend is Friday, June 7th. WesBanco’s payout ratio is 60.00%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on WSBC shares. Hovde Group cut their price target on WesBanco from $36.00 to $34.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. Stephens cut their price target on WesBanco from $30.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $32.00 price target on shares of WesBanco in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $30.60.

Read Our Latest Report on WSBC

WesBanco Company Profile

(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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Institutional Ownership by Quarter for WesBanco (NASDAQ:WSBC)

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