274,790 Shares in WesBanco, Inc. (NASDAQ:WSBC) Purchased by Norges Bank

Norges Bank purchased a new position in shares of WesBanco, Inc. (NASDAQ:WSBCFree Report) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 274,790 shares of the financial services provider’s stock, valued at approximately $8,620,000.

Other hedge funds have also recently modified their holdings of the company. DiNuzzo Private Wealth Inc. acquired a new stake in WesBanco in the 4th quarter valued at about $31,000. Principal Securities Inc. acquired a new stake in WesBanco in the 4th quarter valued at about $43,000. Sound Income Strategies LLC raised its holdings in WesBanco by 2,688.7% in the 4th quarter. Sound Income Strategies LLC now owns 1,478 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 1,425 shares during the last quarter. EMC Capital Management acquired a new stake in WesBanco in the 3rd quarter valued at about $51,000. Finally, Almanack Investment Partners LLC. acquired a new stake in WesBanco in the 4th quarter valued at about $201,000. Institutional investors and hedge funds own 61.41% of the company’s stock.

WesBanco Stock Performance

Shares of WSBC stock opened at $26.99 on Friday. 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 52 week low of $23.00 and a 52 week high of $32.20. The stock has a market capitalization of $1.60 billion, a PE ratio of 11.25 and a beta of 0.85. The firm has a 50 day moving average of $28.07 and a two-hundred day moving average of $28.81.

WesBanco (NASDAQ:WSBCGet Free Report) last issued its quarterly 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 net margin of 17.52% and a return on equity of 6.50%. The company had revenue of $225.96 million during the quarter, compared to analysts’ expectations of $147.81 million. During the same quarter last year, the company posted $0.71 EPS. On average, research analysts predict that WesBanco, Inc. will post 2.21 EPS for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a $0.36 dividend. The ex-dividend date is Friday, June 7th. This represents a $1.44 annualized dividend and a yield of 5.34%. WesBanco’s dividend payout ratio is presently 60.00%.

Analyst Ratings Changes

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

Check Out Our Latest Research 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.

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Institutional Ownership by Quarter for WesBanco (NASDAQ:WSBC)

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