Vanguard Group Inc. Sells 1,123 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Vanguard Group Inc. reduced its stake in WesBanco, Inc. (NASDAQ:WSBC) by 0.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,978,371 shares of the financial services provider’s stock after selling 1,123 shares during the quarter. Vanguard Group Inc. owned about 10.07% of WesBanco worth $187,541,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Earnest Partners LLC increased its stake in shares of WesBanco by 10.5% during the third quarter. Earnest Partners LLC now owns 1,484,752 shares of the financial services provider’s stock worth $36,258,000 after purchasing an additional 140,870 shares during the period. Charles Schwab Investment Management Inc. increased its position in WesBanco by 6.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 811,270 shares of the financial services provider’s stock worth $25,450,000 after buying an additional 48,304 shares during the period. FMR LLC lifted its holdings in shares of WesBanco by 3,621.1% during the third quarter. FMR LLC now owns 510,682 shares of the financial services provider’s stock worth $12,471,000 after buying an additional 496,958 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of WesBanco by 0.8% in the fourth quarter. New York State Common Retirement Fund now owns 498,605 shares of the financial services provider’s stock valued at $15,641,000 after acquiring an additional 3,829 shares during the period. Finally, Norges Bank acquired a new position in shares of WesBanco in the fourth quarter valued at about $8,620,000. 61.41% of the stock is currently owned by institutional investors and hedge funds.

WesBanco Stock Up 1.3 %

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

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data 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 business had revenue of $225.96 million during the quarter, compared to the consensus estimate of $147.81 million. During the same period in the prior year, the company earned $0.71 EPS. Equities analysts expect that WesBanco, Inc. will post 2.21 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date was Friday, June 7th. WesBanco’s dividend payout ratio is 60.00%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. 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. Stephens lowered their price objective on WesBanco from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Finally, Hovde Group cut their target price on WesBanco from $36.00 to $34.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $30.60.

WesBanco Company 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.