Huntington National Bank Grows Position in WesBanco, Inc. (NASDAQ:WSBC)

Huntington National Bank increased its position in WesBanco, Inc. (NASDAQ:WSBC) by 14.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,201 shares of the financial services provider’s stock after buying an additional 2,600 shares during the quarter. Huntington National Bank’s holdings in WesBanco were worth $657,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new position in shares of WesBanco in the third quarter valued at about $56,000. Principal Securities Inc. increased its holdings in WesBanco by 40.9% during the 4th quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 603 shares during the period. Roble Belko & Company Inc bought a new position in WesBanco during the 4th quarter valued at approximately $78,000. Allworth Financial LP lifted its holdings in WesBanco by 668.5% in the 4th quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider’s stock worth $78,000 after buying an additional 2,146 shares during the period. Finally, Hilltop National Bank grew its position in shares of WesBanco by 19.6% in the 4th quarter. Hilltop National Bank now owns 2,518 shares of the financial services provider’s stock worth $82,000 after buying an additional 413 shares during the last quarter. 61.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Piper Sandler started coverage on WesBanco in a report on Thursday. They set an “overweight” rating and a $37.00 target price for the company. Keefe, Bruyette & Woods raised shares of WesBanco from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $40.00 to $44.00 in a research report on Monday, February 10th. Raymond James reduced their price target on shares of WesBanco from $44.00 to $38.00 and set a “strong-buy” rating on the stock in a research report on Wednesday. StockNews.com upgraded shares of WesBanco from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, DA Davidson lifted their price objective on WesBanco from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $39.43.

WesBanco Stock Performance

Shares of WSBC opened at $27.80 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. The stock has a market cap of $1.86 billion, a P/E ratio of 12.41 and a beta of 0.84. The business’s 50 day moving average price is $33.59 and its 200-day moving average price is $32.94. WesBanco, Inc. has a 52 week low of $25.56 and a 52 week high of $37.36.

WesBanco (NASDAQ:WSBC) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.17. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. Equities research analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a dividend of $0.37 per share. The ex-dividend date was Monday, March 10th. This represents a $1.48 dividend on an annualized basis and a yield of 5.32%. WesBanco’s dividend payout ratio is currently 66.07%.

WesBanco Profile

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.