JPMorgan Chase & Co. Boosts Holdings in WesBanco, Inc. (NASDAQ:WSBC)

JPMorgan Chase & Co. grew its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC) by 37.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 318,582 shares of the financial services provider’s stock after buying an additional 86,014 shares during the period. JPMorgan Chase & Co. owned 0.48% of WesBanco worth $10,367,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Stifel Financial Corp increased its position in shares of WesBanco by 41.4% during the third quarter. Stifel Financial Corp now owns 41,658 shares of the financial services provider’s stock valued at $1,241,000 after acquiring an additional 12,190 shares in the last quarter. State Street Corp lifted its holdings in shares of WesBanco by 1.8% during the third quarter. State Street Corp now owns 1,934,453 shares of the financial services provider’s stock valued at $58,313,000 after purchasing an additional 35,030 shares in the last quarter. Barclays PLC boosted its position in shares of WesBanco by 151.1% during the third quarter. Barclays PLC now owns 181,325 shares of the financial services provider’s stock valued at $5,399,000 after buying an additional 109,104 shares during the last quarter. Geode Capital Management LLC lifted its stake in WesBanco by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,419,070 shares of the financial services provider’s stock valued at $42,268,000 after acquiring an additional 32,879 shares during the period. Finally, Franklin Resources Inc. purchased a new stake in shares of WesBanco during the 3rd quarter valued at about $1,148,000. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

WesBanco Stock Up 1.2 %

WSBC stock opened at $27.11 on Tuesday. The business’s 50-day moving average price is $32.41 and its 200-day moving average price is $32.82. The stock has a market cap of $1.81 billion, a P/E ratio of 12.10 and a beta of 0.76. WesBanco, Inc. has a twelve month low of $25.56 and a twelve month high of $37.36. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, beating 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%. On average, equities research analysts forecast that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 5.46%. The ex-dividend date was Monday, March 10th. WesBanco’s dividend payout ratio is currently 66.07%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WSBC. Keefe, Bruyette & Woods upgraded shares of WesBanco from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $40.00 to $44.00 in a research report on Monday, February 10th. StockNews.com raised WesBanco from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Piper Sandler began coverage on WesBanco in a research report on Thursday, April 3rd. They issued an “overweight” rating and a $37.00 target price on the stock. DA Davidson boosted their price target on WesBanco from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Raymond James lowered their price objective on shares of WesBanco from $44.00 to $38.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.43.

WesBanco 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.