WesBanco, Inc. (NASDAQ:WSBC) Shares Sold by Putnam Investments LLC

Putnam Investments LLC decreased its position in shares of WesBanco, Inc. (NASDAQ:WSBC – Get Rating) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,703 shares of the financial services provider’s stock after selling 484 shares during the period. Putnam Investments LLC’s holdings in WesBanco were worth $891,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. increased its position in WesBanco by 70.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 11,235 shares of the financial services provider’s stock worth $375,000 after buying an additional 4,627 shares during the period. Segall Bryant & Hamill LLC increased its holdings in shares of WesBanco by 3.0% in the third quarter. Segall Bryant & Hamill LLC now owns 615,998 shares of the financial services provider’s stock valued at $20,557,000 after purchasing an additional 17,693 shares during the period. Creative Planning increased its holdings in shares of WesBanco by 6.2% in the third quarter. Creative Planning now owns 32,695 shares of the financial services provider’s stock valued at $1,091,000 after purchasing an additional 1,918 shares during the period. Bridge City Capital LLC increased its holdings in shares of WesBanco by 3.6% in the third quarter. Bridge City Capital LLC now owns 46,337 shares of the financial services provider’s stock valued at $1,546,000 after purchasing an additional 1,589 shares during the period. Finally, Bank of Montreal Can increased its holdings in shares of WesBanco by 1.5% in the second quarter. Bank of Montreal Can now owns 26,296 shares of the financial services provider’s stock valued at $849,000 after purchasing an additional 385 shares during the period. Institutional investors and hedge funds own 58.78% of the company’s stock.

WesBanco Trading Down 3.9 %

Shares of WSBC stock opened at $31.45 on Tuesday. The business’s fifty day moving average price is $36.66 and its 200 day moving average price is $37.11. WesBanco, Inc. has a 1-year low of $29.50 and a 1-year high of $41.37. The firm has a market capitalization of $1.86 billion, a PE ratio of 10.35 and a beta of 0.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.83 and a quick ratio of 0.83.

WesBanco (NASDAQ:WSBC – Get Rating) last announced its quarterly earnings data on Tuesday, January 24th. The financial services provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. WesBanco had a return on equity of 8.36% and a net margin of 30.44%. The firm had revenue of $176.69 million for the quarter, compared to analyst estimates of $159.97 million. During the same quarter in the prior year, the company posted $0.82 earnings per share. As a group, sell-side analysts forecast that WesBanco, Inc. will post 3.27 EPS for the current fiscal year.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, April 1st. Shareholders of record on Friday, March 10th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, March 9th. This represents a $1.40 dividend on an annualized basis and a yield of 4.45%. WesBanco’s payout ratio is 46.05%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on WSBC shares. Piper Sandler dropped their target price on WesBanco from $41.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, January 26th. Raymond James reissued a “market perform” rating on shares of WesBanco in a report on Thursday, December 22nd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $34.67.

About WesBanco

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WesBanco, Inc is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Community Banking, and Trust and Investment Services. The Community Banking segment delivers services traditionally offered by service commercial banks, including commercial demand, individual demand, and time deposit accounts, as well as commercial, mortgage, and individual installment loans, and certain non-traditional offerings, such as insurance and securities brokerage services.