44,800 Shares in WesBanco, Inc. $WSBC Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new stake in shares of WesBanco, Inc. (NASDAQ:WSBC) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 44,800 shares of the financial services provider’s stock, valued at approximately $1,492,000.

A number of other institutional investors have also recently added to or reduced their stakes in WSBC. Royal Bank of Canada lifted its stake in shares of WesBanco by 52.2% in the 1st quarter. Royal Bank of Canada now owns 59,983 shares of the financial services provider’s stock valued at $1,858,000 after purchasing an additional 20,585 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of WesBanco by 56.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,100 shares of the financial services provider’s stock valued at $1,582,000 after acquiring an additional 18,347 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of WesBanco by 1,553.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,017 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 1,895 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of WesBanco by 179.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,543,243 shares of the financial services provider’s stock valued at $47,779,000 after acquiring an additional 991,584 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in WesBanco by 60.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 216,545 shares of the financial services provider’s stock worth $6,704,000 after purchasing an additional 81,319 shares during the last quarter. 61.41% of the stock is currently owned by institutional investors and hedge funds.

WesBanco Stock Performance

WSBC opened at $39.03 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.33. The stock’s 50 day moving average price is $35.12 and its two-hundred day moving average price is $34.99. The firm has a market capitalization of $3.75 billion, a P/E ratio of 12.59 and a beta of 0.68. WesBanco, Inc. has a 12-month low of $29.18 and a 12-month high of $39.25.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. WesBanco had a return on equity of 9.76% and a net margin of 21.12%.The company had revenue of $257.23 million during the quarter, compared to analyst estimates of $264.52 million. During the same period in the previous year, the company earned $0.66 earnings per share. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, equities analysts forecast that WesBanco, Inc. will post 3.59 earnings per share for the current year.

WesBanco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, June 5th. WesBanco’s dividend payout ratio is presently 49.03%.

WesBanco declared that its board has approved a stock repurchase plan on Wednesday, May 20th that permits the company to repurchase 4,000,000 shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Piper Sandler increased their price target on WesBanco from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Friday. DA Davidson restated a “buy” rating and issued a $41.00 price objective on shares of WesBanco in a research note on Wednesday, April 22nd. Zacks Research upgraded shares of WesBanco from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Raymond James Financial reiterated a “strong-buy” rating and issued a $41.00 target price on shares of WesBanco in a report on Thursday, March 12th. Finally, Weiss Ratings raised shares of WesBanco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.25.

Insider Activity at WesBanco

In related news, Director Louis Michael Altman purchased 3,000 shares of WesBanco stock in a transaction on Thursday, April 23rd. The stock was purchased at an average cost of $33.72 per share, with a total value of $101,160.00. Following the acquisition, the director directly owned 33,164 shares in the company, valued at approximately $1,118,290.08. This trade represents a 9.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph R. Robinson purchased 1,000 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was bought at an average price of $34.54 per share, for a total transaction of $34,540.00. Following the completion of the transaction, the director directly owned 19,068 shares in the company, valued at approximately $658,608.72. The trade was a 5.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 7,000 shares of company stock valued at $236,500 in the last quarter. Company insiders own 2.07% of the company’s stock.

WesBanco Profile

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.