BNP Paribas Financial Markets Reduces Stock Holdings in WesBanco, Inc. (NASDAQ:WSBC)

BNP Paribas Financial Markets cut its stake in WesBanco, Inc. (NASDAQ:WSBCFree Report) by 32.5% in the 4th quarter, Holdings Channel reports. The firm owned 23,975 shares of the financial services provider’s stock after selling 11,558 shares during the period. BNP Paribas Financial Markets’ holdings in WesBanco were worth $752,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. FMR LLC raised its stake in WesBanco by 3,621.1% in the third quarter. FMR LLC now owns 510,682 shares of the financial services provider’s stock worth $12,471,000 after buying an additional 496,958 shares in the last quarter. Earnest Partners LLC raised its position 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 worth $36,258,000 after acquiring an additional 140,870 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake 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 during the period. Charles Schwab Investment Management Inc. boosted its position in shares of WesBanco by 16.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 762,966 shares of the financial services provider’s stock valued at $18,632,000 after purchasing an additional 106,300 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in WesBanco by 3,037.0% in the fourth quarter. International Assets Investment Management LLC now owns 102,549 shares of the financial services provider’s stock worth $3,269,000 after purchasing an additional 99,280 shares during the period. 61.41% of the stock is owned by hedge funds and other institutional investors.

WesBanco Stock Performance

Shares of WSBC stock opened at $27.22 on Friday. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 11.34 and a beta of 0.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.91 and a current ratio of 0.91. The company’s 50-day moving average is $28.21 and its 200 day moving average is $28.80. WesBanco, Inc. has a one year low of $23.00 and a one year high of $32.20.

WesBanco (NASDAQ:WSBCGet Free Report) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 EPS for the quarter, meeting the consensus estimate of $0.56. WesBanco had a return on equity of 6.50% and a net margin of 17.52%. The business had revenue of $225.96 million for the quarter, compared to the consensus estimate of $147.81 million. During the same period last year, the business posted $0.71 EPS. Sell-side analysts expect that WesBanco, Inc. will post 2.21 EPS for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a $0.36 dividend. The ex-dividend date is Friday, June 7th. This represents a $1.44 annualized dividend and a yield of 5.29%. WesBanco’s payout ratio is 60.00%.

Analyst Upgrades and Downgrades

WSBC has been the subject of several recent research reports. Hovde Group lowered their price objective on WesBanco from $36.00 to $34.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Stephens dropped their price objective on shares of WesBanco from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $32.00 target price on shares of WesBanco in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.60.

Read Our Latest Stock Report on WesBanco

WesBanco Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding WSBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WesBanco, Inc. (NASDAQ:WSBCFree Report).

Institutional Ownership by Quarter for WesBanco (NASDAQ:WSBC)

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