Rhumbline Advisers Increases Stake in WesBanco, Inc. (NASDAQ:WSBC)

Rhumbline Advisers lifted its stake in shares of WesBanco, Inc. (NASDAQ:WSBC) by 41.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,759 shares of the financial services provider’s stock after acquiring an additional 39,388 shares during the period. Rhumbline Advisers owned 0.20% of WesBanco worth $4,141,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in shares of WesBanco by 8,441.5% during the 1st quarter. GAMMA Investing LLC now owns 19,133 shares of the financial services provider’s stock worth $618,000 after acquiring an additional 18,909 shares during the period. Farmers Trust Co. acquired a new stake in WesBanco during the 1st quarter worth approximately $285,000. Moody National Bank Trust Division increased its position in WesBanco by 22.9% during the 1st quarter. Moody National Bank Trust Division now owns 36,704 shares of the financial services provider’s stock worth $1,136,000 after purchasing an additional 6,832 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in WesBanco during the 4th quarter worth approximately $248,000. Finally, Mackenzie Financial Corp increased its position in WesBanco by 192.4% during the 4th quarter. Mackenzie Financial Corp now owns 20,365 shares of the financial services provider’s stock worth $663,000 after purchasing an additional 13,401 shares in the last quarter. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

WesBanco Stock Down 2.8%

Shares of NASDAQ:WSBC opened at $30.44 on Friday. 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, Inc. has a 52-week low of $25.93 and a 52-week high of $37.36. The company has a 50 day moving average of $30.17 and a two-hundred day moving average of $32.27. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 13.59 and a beta of 0.85.

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

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend is Friday, June 6th. WesBanco’s payout ratio is currently 96.73%.

Analyst Ratings Changes

A number of research firms recently issued reports on WSBC. Royal Bank of Canada dropped their target price on shares of WesBanco from $36.00 to $34.00 and set a “sector perform” rating for the company in a research report on Thursday, May 1st. Keefe, Bruyette & Woods dropped their target price on shares of WesBanco from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, May 5th. Raymond James dropped 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 report on Wednesday, April 2nd. Finally, Piper Sandler began coverage on shares of WesBanco in a research report on Thursday, April 3rd. They issued an “overweight” rating and a $37.00 price objective for the company. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, WesBanco presently 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.