Jane Street Group LLC Reduces Stock Holdings in WesBanco, Inc. (NASDAQ:WSBC)

Jane Street Group LLC lessened its position in shares of WesBanco, Inc. (NASDAQ:WSBC) by 87.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,785 shares of the financial services provider’s stock after selling 100,382 shares during the quarter. Jane Street Group LLC’s holdings in WesBanco were worth $449,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in WSBC. Barclays PLC grew its stake in WesBanco by 151.1% during the 3rd quarter. Barclays PLC now owns 181,325 shares of the financial services provider’s stock valued at $5,399,000 after purchasing an additional 109,104 shares during the last quarter. Empowered Funds LLC grew its stake in WesBanco by 5.1% during the 4th quarter. Empowered Funds LLC now owns 195,398 shares of the financial services provider’s stock valued at $6,358,000 after purchasing an additional 9,466 shares during the last quarter. Savant Capital LLC purchased a new stake in WesBanco during the 4th quarter valued at about $207,000. Kentucky Trust Co purchased a new stake in WesBanco during the 4th quarter valued at about $126,000. Finally, Naples Global Advisors LLC purchased a new stake in WesBanco during the 4th quarter valued at about $208,000. Hedge funds and other institutional investors own 61.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Raymond James dropped their price target on WesBanco from $44.00 to $38.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 2nd. Piper Sandler assumed coverage on WesBanco in a research note on Thursday, April 3rd. They set an “overweight” rating and a $37.00 price target on the stock. Keefe, Bruyette & Woods decreased their price objective on WesBanco from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, May 5th. Wall Street Zen raised WesBanco from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, Royal Bank of Canada decreased their price objective on WesBanco from $36.00 to $34.00 and set a “sector perform” rating for the company in a report on Thursday, May 1st. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.71.

WesBanco Stock Performance

Shares of WSBC stock opened at $30.90 on Friday. The stock has a market cap of $2.96 billion, a PE ratio of 13.79 and a beta of 0.81. The business has a 50-day simple moving average of $29.95 and a 200-day simple moving average of $32.60. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. WesBanco, Inc. has a 52-week low of $25.56 and a 52-week high of $37.36.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.06. The business had revenue of $253.23 million during the quarter, compared to analysts’ expectations of $206.63 million. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. During the same quarter in the previous year, the firm posted $0.56 EPS. On average, equities analysts expect that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be issued a $0.37 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.48 dividend on an annualized basis and a yield of 4.79%. WesBanco’s payout ratio is 96.73%.

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.