Swiss National Bank Purchases 68,832 Shares of WesBanco, Inc. $WSBC

Swiss National Bank lifted its position in WesBanco, Inc. (NASDAQ:WSBC) by 58.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 185,977 shares of the financial services provider’s stock after acquiring an additional 68,832 shares during the period. Swiss National Bank’s holdings in WesBanco were worth $5,758,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WSBC. Federated Hermes Inc. bought a new position in WesBanco during the first quarter valued at approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in WesBanco during the first quarter valued at approximately $34,000. Creative Financial Designs Inc. ADV purchased a new stake in WesBanco during the first quarter valued at approximately $48,000. Sterling Capital Management LLC increased its holdings in WesBanco by 807.0% during the fourth quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider’s stock valued at $59,000 after buying an additional 1,614 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of WesBanco in the fourth quarter worth $89,000. Institutional investors own 61.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WSBC shares. Royal Bank Of Canada reduced their price objective on shares of WesBanco from $36.00 to $34.00 and set a “sector perform” rating for the company in a research note on Thursday, May 1st. Keefe, Bruyette & Woods reduced their price objective on shares of WesBanco from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, May 5th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, WesBanco presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.83.

WesBanco Price Performance

Shares of NASDAQ:WSBC opened at $31.24 on Tuesday. WesBanco, Inc. has a fifty-two week low of $26.42 and a fifty-two week high of $37.36. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a fifty day moving average price of $31.52 and a 200 day moving average price of $31.60. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 18.82 and a beta of 0.87.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $260.73 million during the quarter, compared to analyst estimates of $261.14 million. WesBanco had a net margin of 11.65% and a return on equity of 7.29%. During the same quarter last year, the business earned $0.49 earnings per share. As a group, sell-side analysts expect that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Friday, June 6th. WesBanco’s dividend payout ratio (DPR) is 89.16%.

WesBanco 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.