Raymond James & Associates Cuts Position in WesBanco, Inc. (NASDAQ:WSBC)

Raymond James & Associates lessened its position in shares of WesBanco, Inc. (NASDAQ:WSBC) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,554 shares of the financial services provider’s stock after selling 369 shares during the quarter. Raymond James & Associates owned about 0.07% of WesBanco worth $1,304,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in WesBanco by 0.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 56,763 shares of the financial services provider’s stock valued at $2,099,000 after buying an additional 313 shares in the last quarter. UBS Group AG boosted its holdings in shares of WesBanco by 2.4% in the 2nd quarter. UBS Group AG now owns 13,774 shares of the financial services provider’s stock worth $437,000 after purchasing an additional 322 shares during the period. Captrust Financial Advisors boosted its holdings in shares of WesBanco by 9.8% in the 2nd quarter. Captrust Financial Advisors now owns 3,780 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 338 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in shares of WesBanco by 8.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,768 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 389 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of WesBanco by 1.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 22,791 shares of the financial services provider’s stock worth $843,000 after purchasing an additional 389 shares during the period. Hedge funds and other institutional investors own 61.41% of the company’s stock.

WesBanco Trading Up 2.8 %

Shares of WesBanco stock opened at $28.34 on Friday. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 11.29 and a beta of 0.86. WesBanco, Inc. has a fifty-two week low of $19.84 and a fifty-two week high of $32.20. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a 50 day moving average of $28.63 and a 200 day moving average of $28.11.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Monday, January 22nd. The financial services provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). WesBanco had a return on equity of 6.94% and a net margin of 19.11%. The business had revenue of $221.47 million during the quarter, compared to analysts’ expectations of $146.70 million. During the same quarter in the previous year, the company posted $0.84 earnings per share. As a group, research analysts predict that WesBanco, Inc. will post 2.27 earnings per share for the current year.

WesBanco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.08%. The ex-dividend date was Thursday, March 7th. WesBanco’s payout ratio is currently 57.37%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WSBC. Royal Bank of Canada reiterated a “sector perform” rating and issued a $32.00 target price on shares of WesBanco in a report on Tuesday, April 9th. Raymond James raised WesBanco from a “market perform” rating to an “outperform” rating and set a $34.00 price target for the company in a research note on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, WesBanco currently has a consensus rating of “Hold” and a consensus target price of $30.75.

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.