Thrivent Financial for Lutherans Purchases 81,214 Shares of WesBanco, Inc. $WSBC

Thrivent Financial for Lutherans boosted its holdings in WesBanco, Inc. (NASDAQ:WSBC) by 189.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,063 shares of the financial services provider’s stock after acquiring an additional 81,214 shares during the quarter. Thrivent Financial for Lutherans owned 0.13% of WesBanco worth $3,962,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of WesBanco by 52.2% during the first quarter. Royal Bank of Canada now owns 59,983 shares of the financial services provider’s stock valued at $1,858,000 after purchasing an additional 20,585 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in WesBanco by 56.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,100 shares of the financial services provider’s stock worth $1,582,000 after buying an additional 18,347 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in WesBanco by 1,553.3% during the 1st quarter. Jones Financial Companies Lllp now owns 2,017 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 1,895 shares during the period. Goldman Sachs Group Inc. lifted its stake in WesBanco by 179.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,543,243 shares of the financial services provider’s stock valued at $47,779,000 after acquiring an additional 991,584 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of WesBanco by 60.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 216,545 shares of the financial services provider’s stock valued at $6,704,000 after acquiring an additional 81,319 shares during the last quarter. Institutional investors own 61.41% of the company’s stock.

WesBanco Price Performance

Shares of WesBanco stock opened at $37.89 on Friday. The stock has a market cap of $3.64 billion, a P/E ratio of 18.30 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.93 and a current ratio of 0.93. The stock’s fifty day moving average is $34.51 and its 200 day moving average is $32.57. WesBanco, Inc. has a one year low of $26.42 and a one year high of $38.10.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.84 EPS for the quarter, hitting analysts’ consensus estimates of $0.84. WesBanco had a return on equity of 8.88% and a net margin of 15.51%.The business had revenue of $265.78 million during the quarter, compared to analysts’ expectations of $265.53 million. During the same quarter in the prior year, the business posted $0.71 earnings per share. Sell-side analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 5th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.52 annualized dividend and a yield of 4.0%. This is an increase from WesBanco’s previous quarterly dividend of $0.37. WesBanco’s payout ratio is currently 73.43%.

Insiders Place Their Bets

In other WesBanco news, Director F Eric Nelson, Jr. sold 752 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $33.37, for a total value of $25,094.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

WSBC has been the subject of several research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of WesBanco in a report on Monday, December 29th. DA Davidson downgraded shares of WesBanco from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Finally, Piper Sandler assumed coverage on shares of WesBanco in a research note on Wednesday, December 17th. They set an “overweight” rating and a $42.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, WesBanco currently has an average rating of “Moderate Buy” and an average target price of $39.00.

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.