Norges Bank purchased a new position in shares of WesBanco, Inc. (NASDAQ:WSBC – Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 54,428 shares of the financial services provider’s stock, valued at approximately $1,771,000. Norges Bank owned 0.08% of WesBanco at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the business. BNP Paribas Financial Markets increased its stake in WesBanco by 21.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 21,380 shares of the financial services provider’s stock worth $637,000 after buying an additional 3,844 shares during the period. Captrust Financial Advisors grew its stake in shares of WesBanco by 28.6% in the third quarter. Captrust Financial Advisors now owns 10,355 shares of the financial services provider’s stock worth $308,000 after acquiring an additional 2,302 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of WesBanco during the third quarter worth $56,000. Stifel Financial Corp increased its position in shares of WesBanco by 41.4% during the third quarter. Stifel Financial Corp now owns 41,658 shares of the financial services provider’s stock worth $1,241,000 after acquiring an additional 12,190 shares during the period. Finally, State Street Corp raised its stake in shares of WesBanco by 1.8% in the third quarter. State Street Corp now owns 1,934,453 shares of the financial services provider’s stock valued at $58,313,000 after acquiring an additional 35,030 shares in the last quarter. Institutional investors and hedge funds own 61.41% of the company’s stock.
Analyst Ratings Changes
WSBC has been the subject of several analyst reports. Stephens reissued an “equal weight” rating and set a $39.00 target price on shares of WesBanco in a research note on Thursday, January 23rd. DA Davidson increased their price objective on shares of WesBanco from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Raymond James reduced their price objective on shares of WesBanco from $44.00 to $38.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods upgraded shares of WesBanco from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $40.00 to $44.00 in a research note on Monday, February 10th. Finally, StockNews.com upgraded WesBanco from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.43.
Get Our Latest Analysis on WSBC
WesBanco Trading Down 1.4 %
Shares of WesBanco stock opened at $26.79 on Friday. The company has a fifty day simple moving average of $32.57 and a 200-day simple moving average of $32.81. WesBanco, Inc. has a 12-month low of $25.56 and a 12-month high of $37.36. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 11.96 and a beta of 0.76.
WesBanco (NASDAQ:WSBC – Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.17. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. On average, equities analysts forecast that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.
WesBanco Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 5.52%. The ex-dividend date was Monday, March 10th. WesBanco’s dividend payout ratio (DPR) is 66.07%.
About WesBanco
(Free Report)
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.
Further Reading
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