Bank of New York Mellon Corp Has $18.79 Million Holdings in WesBanco, Inc. (NASDAQ:WSBC)

Bank of New York Mellon Corp grew its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC) by 32.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 577,352 shares of the financial services provider’s stock after purchasing an additional 142,285 shares during the period. Bank of New York Mellon Corp owned about 0.86% of WesBanco worth $18,787,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new position in shares of WesBanco during the 3rd quarter worth approximately $56,000. Principal Securities Inc. grew its position in shares of WesBanco by 40.9% during the 4th quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 603 shares in the last quarter. Roble Belko & Company Inc acquired a new position in shares of WesBanco during the 4th quarter worth approximately $78,000. Allworth Financial LP grew its position in shares of WesBanco by 668.5% during the 4th quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 2,146 shares in the last quarter. Finally, Hilltop National Bank boosted its position in shares of WesBanco by 19.6% during the 4th quarter. Hilltop National Bank now owns 2,518 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 413 shares in the last quarter. Institutional investors and hedge funds own 61.41% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on WSBC. StockNews.com upgraded shares of WesBanco from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Stephens reiterated an “equal weight” rating and set a $39.00 price target on shares of WesBanco in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods upgraded shares of WesBanco from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $40.00 to $44.00 in a research report on Monday, February 10th. Raymond James upgraded shares of WesBanco from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $35.00 to $44.00 in a research report on Friday, December 6th. Finally, DA Davidson raised their target price 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. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.83.

WesBanco Stock Performance

NASDAQ WSBC opened at $31.07 on Tuesday. The company’s 50 day moving average is $33.90 and its 200-day moving average is $33.00. WesBanco, Inc. has a 12-month low of $25.56 and a 12-month high of $37.36. 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 firm has a market cap of $2.08 billion, a P/E ratio of 13.87 and a beta of 0.84.

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

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.48 dividend on an annualized basis and a yield of 4.76%. WesBanco’s dividend payout ratio is presently 66.07%.

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.