Magnolia Private Wealth LLC Buys Shares of 8,275 WesBanco, Inc. (NASDAQ:WSBC)

Magnolia Private Wealth LLC purchased a new position in WesBanco, Inc. (NASDAQ:WSBC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,275 shares of the financial services provider’s stock, valued at approximately $269,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Point72 Asset Management L.P. bought a new position in shares of WesBanco during the third quarter valued at approximately $56,000. Principal Securities Inc. grew its stake in WesBanco by 40.9% during the 4th quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider’s stock worth $68,000 after buying an additional 603 shares during the last quarter. Roble Belko & Company Inc acquired a new stake in WesBanco in the fourth quarter worth $78,000. Allworth Financial LP lifted its stake in WesBanco by 668.5% in the fourth quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider’s stock valued at $78,000 after buying an additional 2,146 shares during the last quarter. Finally, Hilltop National Bank boosted its holdings in shares of WesBanco by 19.6% during the fourth quarter. Hilltop National Bank now owns 2,518 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 413 shares during the period. 61.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WSBC has been the topic of a number of analyst reports. DA Davidson increased their price objective on shares of WesBanco from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Raymond James upgraded WesBanco from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $35.00 to $44.00 in a research report on Friday, December 6th. Keefe, Bruyette & Woods upgraded WesBanco from a “market perform” rating to an “outperform” rating and raised their target price for the company from $40.00 to $44.00 in a research report on Monday, February 10th. StockNews.com upgraded WesBanco from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Stephens reissued an “equal weight” rating and set a $39.00 price target on shares of WesBanco in a report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, WesBanco presently has an average rating of “Moderate Buy” and a consensus price target of $40.83.

WesBanco Stock Performance

Shares of NASDAQ WSBC opened at $35.13 on Wednesday. WesBanco, Inc. has a 52-week low of $25.56 and a 52-week high of $37.36. The stock’s fifty day simple moving average is $33.81 and its 200 day simple moving average is $32.80. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 15.68 and a beta of 0.84. 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 (NASDAQ:WSBC) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates 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, sell-side analysts forecast that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

About WesBanco

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.