Cetera Investment Advisers Acquires Shares of 6,153 WesBanco, Inc. (NASDAQ:WSBC)

Cetera Investment Advisers acquired a new stake in WesBanco, Inc. (NASDAQ:WSBC) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 6,153 shares of the financial services provider’s stock, valued at approximately $200,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC bought a new stake in WesBanco in the fourth quarter valued at approximately $328,000. Inspire Advisors LLC raised its holdings in shares of WesBanco by 18.7% during the fourth quarter. Inspire Advisors LLC now owns 63,184 shares of the financial services provider’s stock valued at $2,056,000 after acquiring an additional 9,955 shares in the last quarter. Johnson Investment Counsel Inc. bought a new position in shares of WesBanco during the fourth quarter valued at approximately $323,000. Bank of America Corp DE raised its holdings in shares of WesBanco by 8.2% during the fourth quarter. Bank of America Corp DE now owns 1,537,252 shares of the financial services provider’s stock valued at $50,022,000 after acquiring an additional 116,796 shares in the last quarter. Finally, Magnolia Private Wealth LLC bought a new position in shares of WesBanco during the fourth quarter valued at approximately $269,000. Institutional investors own 61.41% of the company’s stock.

Analyst Upgrades and Downgrades

WSBC has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their target price on WesBanco from $36.00 to $34.00 and set a “sector perform” rating for the company in a report on Thursday, May 1st. Piper Sandler initiated coverage on WesBanco in a report on Thursday, April 3rd. They set an “overweight” rating and a $37.00 target price for the company. Keefe, Bruyette & Woods decreased their target price on WesBanco from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, May 5th. Raymond James decreased their target price on WesBanco from $44.00 to $38.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 2nd. Finally, Wall Street Zen upgraded WesBanco from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.71.

WesBanco Price Performance

Shares of WSBC stock opened at $30.90 on Monday. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 13.79 and a beta of 0.81. The business’s fifty day moving average is $29.95 and its 200 day moving average is $32.55. 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 Tuesday, April 29th. The financial services provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.06. The company had revenue of $253.23 million for the quarter, compared to analysts’ expectations of $206.63 million. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. During the same period in the prior year, the firm earned $0.56 earnings per share. Research analysts expect that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be paid a $0.37 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.79%. WesBanco’s dividend payout ratio is currently 96.73%.

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.