Zurcher Kantonalbank Zurich Cantonalbank Acquires 8,515 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in WesBanco, Inc. (NASDAQ:WSBC) by 48.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,992 shares of the financial services provider’s stock after acquiring an additional 8,515 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in WesBanco were worth $805,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Earnest Partners LLC increased its position in shares of WesBanco by 27.1% in the fourth quarter. Earnest Partners LLC now owns 1,777,002 shares of the financial services provider’s stock worth $57,824,000 after purchasing an additional 379,386 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of WesBanco by 8.2% in the 4th quarter. Bank of America Corp DE now owns 1,537,252 shares of the financial services provider’s stock worth $50,022,000 after buying an additional 116,796 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of WesBanco by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 1,502,057 shares of the financial services provider’s stock worth $48,888,000 after buying an additional 82,987 shares during the last quarter. Segall Bryant & Hamill LLC raised its position in shares of WesBanco by 14.2% during the 1st quarter. Segall Bryant & Hamill LLC now owns 891,580 shares of the financial services provider’s stock valued at $27,603,000 after buying an additional 111,136 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of WesBanco by 2.3% during the 4th quarter. Northern Trust Corp now owns 763,720 shares of the financial services provider’s stock worth $24,851,000 after acquiring an additional 16,997 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 $29.76 on Wednesday. The company has a 50-day simple moving average of $31.59 and a two-hundred day simple moving average of $31.83. WesBanco, Inc. has a 12-month low of $26.42 and a 12-month high of $37.36. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 17.93 and a beta of 0.87. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.50.

WesBanco (NASDAQ:WSBC) last issued its earnings results on Tuesday, July 29th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. WesBanco had a return on equity of 7.72% and a net margin of 11.65%. The company had revenue of $260.73 million during the quarter, compared to analysts’ expectations of $261.14 million. During the same period in the prior year, the business posted $0.49 EPS. On average, equities 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, July 1st. Investors of record on Friday, June 6th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend was Friday, June 6th. WesBanco’s payout ratio is presently 89.16%.

Analysts Set New Price Targets

A number of research analysts recently commented on WSBC shares. Keefe, Bruyette & Woods reduced their target price on WesBanco from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, May 5th. Royal Bank Of Canada reduced their price objective on WesBanco from $36.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 1st. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.83.

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.