Comerica Bank Boosts Position in WesBanco, Inc. (NASDAQ:WSBC)

Comerica Bank increased its holdings in WesBanco, Inc. (NASDAQ:WSBC) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,482 shares of the financial services provider’s stock after buying an additional 368 shares during the quarter. Comerica Bank’s holdings in WesBanco were worth $211,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. IFP Advisors Inc boosted its holdings in shares of WesBanco by 1.3% in the fourth quarter. IFP Advisors Inc now owns 22,873 shares of the financial services provider’s stock worth $744,000 after buying an additional 304 shares during the last quarter. Principal Securities Inc. boosted its holdings in shares of WesBanco by 40.9% in the fourth quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider’s stock worth $68,000 after buying an additional 603 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of WesBanco by 3.4% in the fourth quarter. Bank of Montreal Can now owns 20,092 shares of the financial services provider’s stock worth $654,000 after buying an additional 665 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in shares of WesBanco by 12.3% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 6,331 shares of the financial services provider’s stock worth $206,000 after buying an additional 695 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in shares of WesBanco by 9.5% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 8,397 shares of the financial services provider’s stock worth $272,000 after buying an additional 730 shares during the last quarter. Hedge funds and other institutional investors own 61.41% of the company’s stock.

WesBanco Stock Performance

NASDAQ:WSBC opened at $32.13 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. WesBanco, Inc. has a 12-month low of $25.56 and a 12-month high of $37.36. The stock has a 50-day moving average price of $30.10 and a 200 day moving average price of $32.78. The stock has a market capitalization of $2.15 billion, a P/E ratio of 14.34 and a beta of 0.81.

WesBanco (NASDAQ:WSBC) last released its earnings results on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.06. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. The firm had revenue of $253.23 million during the quarter, compared to analysts’ expectations of $206.63 million. During the same quarter last year, the business posted $0.56 earnings per share. Equities research analysts forecast that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 4.61%. The ex-dividend date was Monday, March 10th. WesBanco’s dividend payout ratio is currently 96.73%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WSBC. Stephens restated an “equal weight” rating and issued a $39.00 price target on shares of WesBanco in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods reduced their price target on WesBanco from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, May 5th. Royal Bank of Canada reduced their price target on WesBanco from $36.00 to $34.00 and set a “sector perform” rating for the company in a research report on Thursday, May 1st. Piper Sandler began coverage on WesBanco in a research report on Thursday, April 3rd. They issued an “overweight” rating and a $37.00 price target for the company. Finally, DA Davidson upped their price target on WesBanco from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.71.

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.