Wells Fargo & Company MN Acquires 51,285 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Wells Fargo & Company MN grew its stake in shares of WesBanco, Inc. (NASDAQ:WSBC) by 13.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 419,093 shares of the financial services provider’s stock after purchasing an additional 51,285 shares during the period. Wells Fargo & Company MN’s holdings in WesBanco were worth $13,637,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Principal Securities Inc. increased its stake in WesBanco by 40.9% in the 4th quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider’s stock valued at $68,000 after buying an additional 603 shares during the last quarter. Roble Belko & Company Inc bought a new stake in shares of WesBanco in the 4th quarter worth approximately $78,000. Allworth Financial LP lifted its stake in WesBanco by 668.5% in the fourth quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 2,146 shares during the last quarter. Hilltop National Bank grew its holdings in WesBanco by 19.6% during the fourth quarter. Hilltop National Bank now owns 2,518 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 413 shares during the period. Finally, Kentucky Trust Co purchased a new stake in WesBanco in the fourth quarter worth $126,000. Institutional investors own 61.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WSBC. Piper Sandler began coverage on WesBanco in a research note on Thursday, April 3rd. They set an “overweight” rating and a $37.00 price target for the company. DA Davidson boosted their price target 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. Stephens reaffirmed an “equal weight” rating and issued a $39.00 price objective on shares of WesBanco in a report on Thursday, January 23rd. Keefe, Bruyette & Woods raised shares of WesBanco from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $40.00 to $44.00 in a report on Monday, February 10th. Finally, StockNews.com raised WesBanco from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, WesBanco currently has a consensus rating of “Moderate Buy” and an average price target of $39.43.

WesBanco Stock Up 1.2 %

Shares of NASDAQ:WSBC opened at $27.11 on Tuesday. The firm has a fifty day moving average price of $32.41 and a two-hundred day moving average price of $32.82. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 12.10 and a beta of 0.76. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93. WesBanco, Inc. has a one year low of $25.56 and a one year high of $37.36.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (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%. Analysts anticipate that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 5.46%. The ex-dividend date was Monday, March 10th. WesBanco’s payout ratio is 66.07%.

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.