PNC Financial Services Group Inc. Boosts Position in WesBanco, Inc. (NASDAQ:WSBC)

PNC Financial Services Group Inc. boosted its holdings in WesBanco, Inc. (NASDAQ:WSBC) by 34.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,292 shares of the financial services provider’s stock after purchasing an additional 1,617 shares during the quarter. PNC Financial Services Group Inc.’s holdings in WesBanco were worth $197,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of WesBanco by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 811,270 shares of the financial services provider’s stock valued at $25,450,000 after buying an additional 48,304 shares in the last quarter. International Assets Investment Management LLC boosted its stake in WesBanco by 3,037.0% in the fourth quarter. International Assets Investment Management LLC now owns 102,549 shares of the financial services provider’s stock valued at $3,269,000 after acquiring an additional 99,280 shares in the last quarter. Raymond James Trust N.A. acquired a new position in WesBanco in the fourth quarter valued at $1,196,000. Vanguard Group Inc. grew its holdings in shares of WesBanco by 1.2% during the third quarter. Vanguard Group Inc. now owns 5,979,494 shares of the financial services provider’s stock worth $146,019,000 after purchasing an additional 71,928 shares during the last quarter. Finally, Greylin Investment Management Inc acquired a new stake in shares of WesBanco during the fourth quarter worth about $246,000. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WSBC. Stephens decreased their target price on WesBanco from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Royal Bank of Canada reissued a “sector perform” rating and issued a $32.00 price objective on shares of WesBanco in a report on Tuesday, April 9th. Finally, Hovde Group cut their target price on shares of WesBanco from $36.00 to $34.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $30.60.

WesBanco Stock Up 1.3 %

WSBC opened at $28.09 on Wednesday. The business has a 50 day moving average price of $27.46 and a two-hundred day moving average price of $28.63. WesBanco, Inc. has a 52 week low of $23.00 and a 52 week high of $32.20. The company has a market cap of $1.67 billion, a PE ratio of 11.70 and a beta of 0.84. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.58.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. WesBanco had a return on equity of 6.50% and a net margin of 17.52%. The firm had revenue of $225.96 million during the quarter, compared to the consensus estimate of $147.81 million. During the same period last year, the company earned $0.71 earnings per share. As a group, research analysts anticipate that WesBanco, Inc. will post 2.21 EPS for the current year.

WesBanco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.13%. The ex-dividend date was Friday, June 7th. WesBanco’s payout ratio is 60.00%.

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.