20,565 Shares in WesBanco, Inc. $WSBC Purchased by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co bought a new stake in shares of WesBanco, Inc. (NASDAQ:WSBC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 20,565 shares of the financial services provider’s stock, valued at approximately $657,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its position in WesBanco by 255.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 799 shares of the financial services provider’s stock valued at $26,000 after buying an additional 574 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in WesBanco during the second quarter valued at $26,000. First Horizon Corp bought a new stake in WesBanco in the third quarter worth $27,000. True Wealth Design LLC boosted its holdings in WesBanco by 77.9% in the third quarter. True Wealth Design LLC now owns 877 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 384 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of WesBanco by 71.9% in the second quarter. Federated Hermes Inc. now owns 1,435 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 600 shares during the last quarter. 61.41% of the stock is owned by institutional investors.

WesBanco Stock Performance

Shares of NASDAQ WSBC opened at $33.68 on Friday. The firm’s 50-day moving average price is $35.29 and its 200-day moving average price is $33.29. WesBanco, Inc. has a 52-week low of $26.42 and a 52-week high of $38.10. The company has a market cap of $3.24 billion, a PE ratio of 16.27 and a beta of 0.79. The company has a quick ratio of 0.93, a current ratio of 0.92 and a debt-to-equity ratio of 0.40.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.84 earnings per share for the quarter, meeting the consensus estimate of $0.84. The firm had revenue of $265.78 million during the quarter, compared to analysts’ expectations of $265.53 million. WesBanco had a net margin of 15.51% and a return on equity of 8.81%. During the same period in the previous year, the company earned $0.71 earnings per share. As a group, analysts anticipate that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 6th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, March 6th. This represents a $1.52 dividend on an annualized basis and a yield of 4.5%. WesBanco’s payout ratio is currently 73.43%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Piper Sandler began coverage on WesBanco in a report on Wednesday, December 17th. They set an “overweight” rating and a $42.00 price target for the company. DA Davidson started coverage on shares of WesBanco in a research note on Wednesday, February 25th. They issued a “buy” rating and a $44.00 price target on the stock. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of WesBanco in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $40.00.

About WesBanco

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.