Invesco Ltd. decreased its position in shares of WesBanco, Inc. (NASDAQ: WSBC – Get Rating) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 616,360 shares of the financial services provider’s stock after selling 1,108 shares during the quarter. Invesco Ltd. owned about 0.97% of WesBanco worth $ 21,566,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE boosted its holdings in shares of WesBanco by 4.3% during the fourth quarter. Bank of America Corp DE now owns 1,016,187 shares of the financial services provider’s stock valued at $ 35,556,000 after acquiring an additional 42,300 shares during the period. Earnest Partners LLC raised its stake in shares of WesBanco by 24.2% during the fourth quarter. Earnest Partners LLC now owns 690,381 shares of the financial services provider’s stock valued at $ 24,156,000 after purchasing an additional 134,416 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of WesBanco by 1.8% during the third quarter. Bank of New York Mellon Corp now owns 570,803 shares of the financial services provider’s stock valued at $ 19,453,000 after purchasing an additional 10,362 shares in the last quarter. Segall Bryant & Hamill LLC raised its stake in shares of WesBanco by 2.0% during the third quarter. Segall Bryant & Hamill LLC now owns 566,208 shares of the financial services provider’s stock valued at $ 19,295,000 after purchasing an additional 11,300 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of WesBanco by 0.6% during the fourth quarter. ProShare Advisors LLC now owns 296,129 shares of the financial services provider’s stock valued at $ 10,361,000 after purchasing an additional 1,901 shares in the last quarter. 60.61% of the stock is owned by institutional investors.
Shares of WesBanco stock opened at $ 33.90 on Wednesday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.17. The company 50-day moving average price is $ 33.33 and its two-hundred day moving average price is $ 34.72. WesBanco, Inc. has a 52 week low of $ 30.21 and a 52 week high of $ 39.24. The stock has a market cap of $ 2.04 billion, a PE ratio of 10.76 and a beta of 0.93.
WesBanco (NASDAQ: WSBC – Get Rating) last issued its quarterly earnings results on Tuesday, April 26th. The financial services provider reported $ 0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $ 0.62 by $ 0.08. The firm had revenue of $ 138.09 million for the quarter, compared to analysts’ expectations of $ 139.13 million. WesBanco had a return on equity of 8.42% and a net margin of 35.42%. WesBanco’s revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the business posted $ 1.06 EPS. On average, equities analysts predict that WesBanco, Inc. will post 2.71 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 10th will be paid a $ 0.34 dividend. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $ 1.36 dividend on an annualized basis and a yield of 4.01%. WesBanco’s dividend payout ratio is currently 43.17%.
In related news, EVP Jayson M. Zatta sold 2,000 shares of WesBanco stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $ 32.77, for a total value of $ 65,540.00. Following the transaction, the executive vice president now owns 55,200 shares of the company stock, valued at approximately $ 1,808,904. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kerry M. Stemler bought 800 shares of the stock in a transaction on Friday, April 29th. The shares were acquired at an average cost of $ 32.91 per share, for a total transaction of $ 26,328.00. Following the purchase, the director now owns 100,554 shares in the company, valued at $ 3,309,232.14. The disclosure for this purchase can be found here. Insiders sold a total of 9,000 shares of company stock worth $ 295,340 in the last three months. 3.15% of the stock is currently owned by company insiders.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of WesBanco from a “hold” rating to a “buy” rating and set a $ 39.00 price objective on the stock in a research note on Friday, April 1st. B. Riley cut their price objective on shares of WesBanco from $ 35.00 to $ 32.00 in a research note on Tuesday, April 12th. StockNews.com assumed coverage on shares of WesBanco in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Piper Sandler cut shares of WesBanco from a “neutral” rating to an “underweight” rating and set a $ 34.00 price target on the stock. in a research report on Wednesday, May 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $ 35.75.
About WesBanco: (Get Rating)
WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services. It operates in two segments, Community Banking, and Trust and Investment Services. The company offers commercial demand, individual demand, and time deposit accounts; money market accounts; interest bearing and non-interest bearing demand deposits, as well as savings deposits; and certificates of deposit.
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