Allworth Financial LP Has $78,000 Position in WesBanco, Inc. (NASDAQ:WSBC)

Allworth Financial LP raised its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC) by 668.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,467 shares of the financial services provider’s stock after purchasing an additional 2,146 shares during the quarter. Allworth Financial LP’s holdings in WesBanco were worth $78,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WSBC. Point72 Asset Management L.P. acquired a new stake in WesBanco during the 3rd quarter worth approximately $56,000. CWM LLC grew its stake in shares of WesBanco by 175.2% in the third quarter. CWM LLC now owns 2,072 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 1,319 shares in the last quarter. Principal Securities Inc. raised its stake in WesBanco by 40.9% in the 4th quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 603 shares in the last quarter. Roble Belko & Company Inc bought a new stake in WesBanco in the 4th quarter valued at about $78,000. Finally, Hilltop National Bank increased its holdings in shares of WesBanco by 19.6% during the fourth quarter. Hilltop National Bank now owns 2,518 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 413 shares during the period. 61.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on WSBC shares. DA Davidson raised their price objective on WesBanco from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Raymond James raised WesBanco from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $35.00 to $44.00 in a research note on Friday, December 6th. Stephens reissued an “equal weight” rating and issued a $39.00 target price on shares of WesBanco in a report on Thursday, January 23rd. StockNews.com upgraded shares of WesBanco from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Keefe, Bruyette & Woods raised shares of WesBanco from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $40.00 to $44.00 in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.83.

WesBanco Price Performance

WSBC stock opened at $35.08 on Tuesday. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 15.66 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93. The company has a 50 day simple moving average of $33.80 and a 200 day simple moving average of $32.76. WesBanco, Inc. has a 1 year low of $25.56 and a 1 year high of $37.36.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.17. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. Research analysts anticipate that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

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.