Denali Advisors LLC Has $516,000 Stock Holdings in WesBanco, Inc. (NASDAQ:WSBC)

Denali Advisors LLC decreased its stake in WesBanco, Inc. (NASDAQ:WSBC) by 7.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,300 shares of the financial services provider’s stock after selling 1,400 shares during the quarter. Denali Advisors LLC’s holdings in WesBanco were worth $516,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Founders Financial Securities LLC boosted its holdings in shares of WesBanco by 6.1% in the first quarter. Founders Financial Securities LLC now owns 7,612 shares of the financial services provider’s stock worth $227,000 after buying an additional 436 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new position in WesBanco during the 1st quarter worth approximately $222,000. Bridge City Capital LLC lifted its holdings in shares of WesBanco by 0.8% in the first quarter. Bridge City Capital LLC now owns 84,607 shares of the financial services provider’s stock valued at $2,522,000 after purchasing an additional 663 shares in the last quarter. Moody National Bank Trust Division raised its position in WesBanco by 17.5% during the first quarter. Moody National Bank Trust Division now owns 17,165 shares of the financial services provider’s stock valued at $512,000 after buying an additional 2,552 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of WesBanco by 34.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,292 shares of the financial services provider’s stock valued at $197,000 after purchasing an additional 1,617 shares during the period. Institutional investors and hedge funds own 61.41% of the company’s stock.

Analyst Ratings Changes

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

WesBanco Trading Down 1.9 %

Shares of NASDAQ:WSBC opened at $27.56 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $1.64 billion, a PE ratio of 11.48 and a beta of 0.84. WesBanco, Inc. has a 1 year low of $23.00 and a 1 year high of $32.20. The firm has a fifty day moving average price of $27.44 and a 200 day moving average price of $28.63.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.56. The business had revenue of $225.96 million for the quarter, compared to the consensus estimate of $147.81 million. WesBanco had a return on equity of 6.50% and a net margin of 17.52%. During the same period last year, the business earned $0.71 EPS. Analysts expect that WesBanco, Inc. will post 2.21 EPS for the current fiscal year.

WesBanco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.22%. The ex-dividend date was Friday, June 7th. WesBanco’s dividend payout ratio is currently 60.00%.

About WesBanco

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.