WesBanco, Inc. $WSBC Stock Holdings Reduced by Earnest Partners LLC

Earnest Partners LLC reduced its position in WesBanco, Inc. (NASDAQ:WSBC) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,802,452 shares of the financial services provider’s stock after selling 39,799 shares during the period. Earnest Partners LLC owned about 1.88% of WesBanco worth $57,552,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aquatic Capital Management LLC lifted its holdings in shares of WesBanco by 51.7% during the 3rd quarter. Aquatic Capital Management LLC now owns 34,354 shares of the financial services provider’s stock valued at $1,097,000 after buying an additional 11,704 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in WesBanco in the third quarter worth approximately $1,761,000. Creative Planning raised its position in WesBanco by 19.3% during the third quarter. Creative Planning now owns 111,566 shares of the financial services provider’s stock valued at $3,562,000 after acquiring an additional 18,085 shares in the last quarter. FJ Capital Management LLC raised its position in WesBanco by 771.4% during the third quarter. FJ Capital Management LLC now owns 654,296 shares of the financial services provider’s stock valued at $20,892,000 after acquiring an additional 579,211 shares in the last quarter. Finally, Mendon Capital Advisors Corp lifted its stake in WesBanco by 100.0% in the third quarter. Mendon Capital Advisors Corp now owns 50,000 shares of the financial services provider’s stock valued at $1,596,000 after acquiring an additional 25,000 shares during the last quarter. 61.41% of the stock is owned by hedge funds and other institutional investors.

WesBanco Stock Up 0.5%

Shares of WSBC stock opened at $33.33 on Monday. WesBanco, Inc. has a 12 month low of $26.42 and a 12 month high of $38.10. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.40. The firm has a market cap of $3.20 billion, a PE ratio of 16.10 and a beta of 0.79. The stock has a 50 day moving average of $35.28 and a 200-day moving average of $33.36.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.84. WesBanco had a net margin of 15.51% and a return on equity of 8.81%. The business had revenue of $265.78 million for the quarter, compared to the consensus estimate of $265.53 million. During the same quarter last year, the company posted $0.71 earnings per share. On average, equities analysts predict that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, March 6th. This represents a $1.52 annualized dividend and a dividend yield of 4.6%. WesBanco’s payout ratio is presently 73.43%.

Analyst Ratings Changes

Several analysts have commented on the stock. Piper Sandler assumed coverage on shares of WesBanco in a research report on Wednesday, December 17th. They issued an “overweight” rating and a $42.00 target price for the company. Weiss Ratings raised shares of WesBanco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. DA Davidson began coverage on shares of WesBanco in a report on Wednesday, February 25th. They issued a “buy” rating and a $44.00 price objective for the company. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $41.00 target price on shares of WesBanco in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $40.60.

About WesBanco

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.