Victory Capital Management Inc. Sells 49,574 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Victory Capital Management Inc. lessened its position in shares of WesBanco, Inc. (NASDAQ:WSBC) by 30.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,107 shares of the financial services provider’s stock after selling 49,574 shares during the period. Victory Capital Management Inc. owned approximately 0.17% of WesBanco worth $3,681,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in WSBC. Wellington Management Group LLP acquired a new position in WesBanco during the third quarter valued at approximately $116,114,000. State Street Corp raised its holdings in shares of WesBanco by 1.8% during the 3rd quarter. State Street Corp now owns 1,934,453 shares of the financial services provider’s stock worth $58,313,000 after buying an additional 35,030 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of WesBanco by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,419,070 shares of the financial services provider’s stock worth $42,268,000 after buying an additional 32,879 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in WesBanco by 6.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 872,035 shares of the financial services provider’s stock valued at $28,376,000 after buying an additional 50,704 shares in the last quarter. Finally, FMR LLC grew its position in WesBanco by 25.8% in the third quarter. FMR LLC now owns 695,487 shares of the financial services provider’s stock valued at $20,712,000 after acquiring an additional 142,597 shares during the last quarter. Institutional investors and hedge funds own 61.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Stephens reissued an “equal weight” rating and issued a $39.00 target price on shares of WesBanco in a report on Thursday, January 23rd. StockNews.com raised WesBanco from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. DA Davidson upped their target price on WesBanco from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Raymond James upgraded WesBanco from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $35.00 to $44.00 in a research report on Friday, December 6th. Finally, Keefe, Bruyette & Woods upgraded WesBanco from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $40.00 to $44.00 in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.83.

WesBanco Trading Up 2.7 %

NASDAQ WSBC opened at $31.76 on Friday. The firm has a market capitalization of $2.13 billion, a PE ratio of 14.18 and a beta of 0.84. The business’s 50-day moving average price is $33.80 and its two-hundred day moving average price is $32.96. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. WesBanco, Inc. has a 12 month low of $25.56 and a 12 month high of $37.36.

WesBanco (NASDAQ:WSBC) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, beating 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, analysts expect that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.66%. WesBanco’s 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.