WesBanco, Inc. (NASDAQ:WSBC) Shares Purchased by Nuveen Asset Management LLC

Nuveen Asset Management LLC increased its stake in shares of WesBanco, Inc. (NASDAQ:WSBC) by 13.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 492,167 shares of the financial services provider’s stock after purchasing an additional 58,214 shares during the period. Nuveen Asset Management LLC owned 0.74% of WesBanco worth $16,015,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. IFP Advisors Inc raised its position in shares of WesBanco by 1.3% during the 4th quarter. IFP Advisors Inc now owns 22,873 shares of the financial services provider’s stock worth $744,000 after purchasing an additional 304 shares during the last quarter. Comerica Bank raised its position in shares of WesBanco by 6.0% during the 4th quarter. Comerica Bank now owns 6,482 shares of the financial services provider’s stock worth $211,000 after purchasing an additional 368 shares during the last quarter. Principal Securities Inc. raised its position in shares of WesBanco by 40.9% during 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 during the last quarter. Bank of Montreal Can raised its position in shares of WesBanco by 3.4% during the 4th quarter. Bank of Montreal Can now owns 20,092 shares of the financial services provider’s stock worth $654,000 after purchasing an additional 665 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. grew its stake in WesBanco by 12.3% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 6,331 shares of the financial services provider’s stock worth $206,000 after acquiring an additional 695 shares during the period. 61.41% of the stock is currently owned by institutional investors and hedge funds.

WesBanco Stock Down 0.4%

Shares of NASDAQ WSBC opened at $30.40 on Monday. WesBanco, Inc. has a 52-week low of $25.56 and a 52-week high of $37.36. The firm has a fifty day moving average of $30.06 and a 200-day moving average of $32.73. The stock has a market capitalization of $2.04 billion, a PE ratio of 13.57 and a beta of 0.81. 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 announced its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.06. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. The company had revenue of $253.23 million during the quarter, compared to analysts’ expectations of $206.63 million. During the same period in the previous year, the company earned $0.56 EPS. On average, analysts anticipate that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.48 dividend on an annualized basis and a yield of 4.87%. WesBanco’s dividend payout ratio (DPR) is 96.73%.

Wall Street Analysts Forecast Growth

WSBC has been the subject of several recent analyst reports. Wall Street Zen raised shares of WesBanco from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. DA Davidson lifted their target price on shares of WesBanco from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Piper Sandler initiated coverage on shares of WesBanco in a research note on Thursday, April 3rd. They issued an “overweight” rating and a $37.00 target price for the company. Raymond James lowered their target price on shares of WesBanco from $44.00 to $38.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods lowered their target price on shares of WesBanco from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, May 5th. Three investment 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.71.

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.