Charles Schwab Investment Management Inc. Has $25.45 Million Stock Holdings in WesBanco, Inc. (NASDAQ:WSBC)

Charles Schwab Investment Management Inc. raised its holdings in WesBanco, Inc. (NASDAQ:WSBC) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 811,270 shares of the financial services provider’s stock after purchasing an additional 48,304 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.37% of WesBanco worth $25,450,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of WesBanco by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 5,979,494 shares of the financial services provider’s stock valued at $146,019,000 after purchasing an additional 71,928 shares in the last quarter. Earnest Partners LLC boosted its holdings in shares of WesBanco by 10.5% in the 3rd quarter. Earnest Partners LLC now owns 1,484,752 shares of the financial services provider’s stock valued at $36,258,000 after purchasing an additional 140,870 shares in the last quarter. FMR LLC boosted its holdings in shares of WesBanco by 3,621.1% in the 3rd quarter. FMR LLC now owns 510,682 shares of the financial services provider’s stock valued at $12,471,000 after purchasing an additional 496,958 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of WesBanco by 0.8% in the 4th quarter. New York State Common Retirement Fund now owns 498,605 shares of the financial services provider’s stock valued at $15,641,000 after purchasing an additional 3,829 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of WesBanco by 100.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 235,297 shares of the financial services provider’s stock valued at $5,746,000 after purchasing an additional 117,635 shares in the last quarter. Institutional investors and hedge funds own 61.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WSBC shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $32.00 price target on shares of WesBanco in a research note on Tuesday, April 9th. Stephens dropped their price target on WesBanco from $30.00 to $27.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. Finally, Hovde Group dropped their price target on WesBanco from $36.00 to $34.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $30.60.

WesBanco Stock Down 3.1 %

Shares of NASDAQ:WSBC opened at $27.57 on Friday. The firm has a market cap of $1.64 billion, a P/E ratio of 11.49 and a beta of 0.88. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.58. WesBanco, Inc. has a 12-month low of $23.00 and a 12-month high of $32.20. The business has a fifty day simple moving average of $28.32 and a 200 day simple moving average of $28.74.

WesBanco (NASDAQ:WSBC) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.56. The business had revenue of $225.96 million during the quarter, compared to analyst estimates of $147.81 million. WesBanco had a return on equity of 6.50% and a net margin of 17.52%. During the same period last year, the company earned $0.71 EPS. Analysts predict that WesBanco, Inc. will post 2.21 earnings per share for the current year.

WesBanco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.22%. The ex-dividend date of this dividend is Friday, June 7th. WesBanco’s dividend payout ratio is currently 60.00%.

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.