Wells Fargo & Company MN Has $13.64 Million Stake in WesBanco, Inc. (NASDAQ:WSBC)

Wells Fargo & Company MN grew its position in WesBanco, Inc. (NASDAQ:WSBC) by 13.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 419,093 shares of the financial services provider’s stock after buying an additional 51,285 shares during the quarter. Wells Fargo & Company MN owned 0.63% of WesBanco worth $13,637,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in WSBC. Vanguard Group Inc. raised its position in WesBanco by 11.7% during the fourth quarter. Vanguard Group Inc. now owns 6,710,539 shares of the financial services provider’s stock valued at $218,361,000 after purchasing an additional 705,483 shares in the last quarter. State Street Corp increased its stake in shares of WesBanco by 1.8% in the 3rd quarter. State Street Corp now owns 1,934,453 shares of the financial services provider’s stock valued at $58,313,000 after purchasing an additional 35,030 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of WesBanco by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 1,502,057 shares of the financial services provider’s stock worth $48,888,000 after buying an additional 82,987 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of WesBanco by 6.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 872,035 shares of the financial services provider’s stock worth $28,376,000 after buying an additional 50,704 shares during the last quarter. Finally, Segall Bryant & Hamill LLC boosted its stake in WesBanco by 25.2% in the fourth quarter. Segall Bryant & Hamill LLC now owns 780,444 shares of the financial services provider’s stock valued at $25,396,000 after buying an additional 156,903 shares in the last quarter. Institutional investors own 61.41% of the company’s stock.

Analysts Set New Price Targets

WSBC has been the subject of several research analyst reports. Stephens reissued an “equal weight” rating and set a $39.00 target price on shares of WesBanco in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods raised shares of WesBanco from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $40.00 to $44.00 in a research note on Monday, February 10th. Raymond James decreased their target price on shares of WesBanco from $44.00 to $38.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 2nd. StockNews.com upgraded WesBanco from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Finally, Piper Sandler started coverage on WesBanco in a report on Thursday, April 3rd. They set an “overweight” rating and a $37.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $39.43.

WesBanco Stock Performance

Shares of WesBanco stock opened at $27.11 on Tuesday. The company’s fifty day moving average is $32.41 and its 200 day moving average is $32.82. WesBanco, Inc. has a twelve month low of $25.56 and a twelve month high of $37.36. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 12.10 and a beta of 0.76. 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, beating 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%. Sell-side analysts forecast that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 5.46%. The ex-dividend date was Monday, March 10th. WesBanco’s dividend payout ratio (DPR) is 66.07%.

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.