Zacks Investment Management Has $228,000 Stake in WesBanco, Inc. (NASDAQ:WSBC)

Zacks Investment Management lowered its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC) by 12.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 7,000 shares of the financial services provider’s stock after selling 1,000 shares during the quarter. Zacks Investment Management’s holdings in WesBanco were worth $228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Proficio Capital Partners LLC bought a new position in shares of WesBanco during the 4th quarter worth approximately $328,000. Geode Capital Management LLC lifted its holdings in shares of WesBanco by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,419,070 shares of the financial services provider’s stock valued at $42,268,000 after acquiring an additional 32,879 shares during the period. Franklin Resources Inc. acquired a new stake in shares of WesBanco in the 3rd quarter valued at $1,148,000. Inspire Advisors LLC grew its holdings in shares of WesBanco by 18.7% in the 4th quarter. Inspire Advisors LLC now owns 63,184 shares of the financial services provider’s stock worth $2,056,000 after purchasing an additional 9,955 shares during the last quarter. Finally, Johnson Investment Counsel Inc. acquired a new stake in shares of WesBanco during the 4th quarter worth about $323,000. Institutional investors own 61.41% of the company’s stock.

WesBanco Price Performance

WesBanco stock opened at $28.30 on Monday. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 12.63 and a beta of 0.76. WesBanco, Inc. has a 12-month low of $25.56 and a 12-month high of $37.36. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. The business’s 50-day simple moving average is $31.78 and its 200 day simple moving average is $32.80.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.54 by $0.17. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. As a group, research analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date was Monday, March 10th. WesBanco’s dividend payout ratio (DPR) is currently 66.07%.

Analysts Set New Price Targets

WSBC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods upgraded shares of WesBanco from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $40.00 to $44.00 in a research report on Monday, February 10th. Stephens restated an “equal weight” rating and set a $39.00 price target on shares of WesBanco in a research report on Thursday, January 23rd. Raymond James cut their price objective on WesBanco from $44.00 to $38.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 2nd. Piper Sandler initiated coverage on WesBanco in a report on Thursday, April 3rd. They set an “overweight” rating and a $37.00 target price on the stock. Finally, DA Davidson lifted their price target on WesBanco from $44.00 to $45.00 and gave the company a “buy” rating in a report on Monday, January 27th. 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 stock. Based on data from MarketBeat.com, WesBanco currently has a consensus rating of “Moderate Buy” and an average target price of $39.43.

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.