Credit Suisse AG raised its position in WesBanco Inc (NASDAQ:WSBC) by 35.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,341 shares of the financial services provider’s stock after acquiring an additional 16,619 shares during the quarter. Credit Suisse AG owned 0.12% of WesBanco worth $2,393,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Resources Management Corp CT ADV acquired a new stake in WesBanco in the third quarter valued at approximately $620,000. Sunbelt Securities Inc. acquired a new stake in shares of WesBanco during the third quarter worth approximately $436,000. Franklin Resources Inc. acquired a new stake in shares of WesBanco during the fourth quarter worth approximately $1,683,000. Comerica Bank grew its position in shares of WesBanco by 5.2% during the fourth quarter. Comerica Bank now owns 8,260 shares of the financial services provider’s stock worth $275,000 after buying an additional 409 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in shares of WesBanco by 1.2% during the third quarter. California State Teachers Retirement System now owns 82,343 shares of the financial services provider’s stock worth $3,077,000 after buying an additional 983 shares in the last quarter. 58.78% of the stock is owned by institutional investors.
In other news, Director Kerry M. Stemler acquired 807 shares of WesBanco stock in a transaction that occurred on Wednesday, January 29th. The shares were purchased at an average cost of $32.99 per share, for a total transaction of $26,622.93. Following the completion of the purchase, the director now directly owns 96,843 shares of the company’s stock, valued at approximately $3,194,850.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald W. Owen acquired 3,850 shares of WesBanco stock in a transaction that occurred on Tuesday, March 10th. The shares were purchased at an average price of $25.82 per share, for a total transaction of $99,407.00. Insiders have purchased 5,657 shares of company stock worth $147,980 over the last 90 days. 3.05% of the stock is currently owned by company insiders.
WSBC has been the subject of a number of recent analyst reports. B. Riley reissued a “hold” rating and set a $38.00 price target on shares of WesBanco in a research report on Monday, January 27th. Zacks Investment Research downgraded shares of WesBanco from a “hold” rating to a “sell” rating in a research report on Wednesday, March 18th. BidaskClub downgraded shares of WesBanco from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 5th. Stephens decreased their price target on shares of WesBanco from $41.50 to $39.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods downgraded shares of WesBanco from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $41.00 to $37.00 in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $39.00.
Shares of WSBC opened at $21.32 on Thursday. The business’s fifty day moving average price is $29.26 and its 200 day moving average price is $35.02. WesBanco Inc has a 12-month low of $19.05 and a 12-month high of $42.33. The stock has a market capitalization of $1.48 billion, a PE ratio of 7.51 and a beta of 1.05. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.93 and a quick ratio of 0.93.
WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.06. WesBanco had a return on equity of 7.82% and a net margin of 26.44%. The firm had revenue of $137.80 million for the quarter, compared to analysts’ expectations of $133.15 million. During the same period last year, the business posted $0.80 earnings per share. As a group, research analysts anticipate that WesBanco Inc will post 2.78 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, March 12th. This is a boost from WesBanco’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a yield of 6.00%. WesBanco’s dividend payout ratio (DPR) is 41.83%.
WesBanco, Inc operates as the holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services in the United States. It operates in two segments, Community Banking, and Trust and Investment Services.
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