Swiss National Bank Grows Stock Holdings in WesBanco, Inc. $WSBC

Swiss National Bank raised its position in WesBanco, Inc. (NASDAQ:WSBC) by 58.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,977 shares of the financial services provider’s stock after purchasing an additional 68,832 shares during the period. Swiss National Bank owned 0.28% of WesBanco worth $5,758,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Federated Hermes Inc. bought a new position in WesBanco in the 1st quarter valued at $26,000. Opal Wealth Advisors LLC bought a new stake in shares of WesBanco during the 1st quarter worth $34,000. Creative Financial Designs Inc. ADV bought a new stake in shares of WesBanco during the 1st quarter worth $48,000. Sterling Capital Management LLC raised its position in WesBanco by 807.0% in the 4th quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 1,614 shares during the period. Finally, Quarry LP purchased a new position in WesBanco in the 4th quarter worth $89,000. 61.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WSBC. Keefe, Bruyette & Woods decreased their price objective on shares of WesBanco from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, May 5th. Royal Bank Of Canada decreased their price objective on shares of 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 research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.83.

WesBanco Price Performance

Shares of NASDAQ WSBC opened at $31.24 on Tuesday. WesBanco, Inc. has a 1 year low of $26.42 and a 1 year high of $37.36. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.94 and a quick ratio of 0.93. The company’s 50-day moving average is $31.52 and its 200 day moving average is $31.60. The stock has a market capitalization of $3.00 billion, a P/E ratio of 18.82 and a beta of 0.87.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. WesBanco had a net margin of 11.65% and a return on equity of 7.29%. The company had revenue of $260.73 million for the quarter, compared to analysts’ expectations of $261.14 million. During the same quarter in the previous year, the company earned $0.49 earnings per share. On average, sell-side analysts expect that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.48 annualized dividend and a yield of 4.7%. WesBanco’s payout ratio is presently 89.16%.

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.