Macquarie Group Ltd. Buys 44,630 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Macquarie Group Ltd. grew its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC – Free Report) by 2.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,868,806 shares of the financial services provider’s stock after buying an additional 44,630 shares during the period. Macquarie Group Ltd. owned approximately 3.15% of WesBanco worth $57,372,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Independence Bank of Kentucky bought a new position in shares of WesBanco during the 1st quarter worth approximately $29,000. Quarry LP acquired a new position in shares of WesBanco during the first quarter worth approximately $35,000. Ancora Advisors LLC acquired a new position in shares of WesBanco during the first quarter worth approximately $43,000. Resurgent Financial Advisors LLC acquired a new position in shares of WesBanco during the fourth quarter worth approximately $50,000. Finally, Tower Research Capital LLC TRC raised its position in shares of WesBanco by 552.6% during the first quarter. Tower Research Capital LLC TRC now owns 1,625 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 1,376 shares during the period. 59.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WSBC. StockNews.com raised WesBanco from a “sell” rating to a “hold” rating in a research report on Wednesday. Hovde Group raised WesBanco from a “market perform” rating to an “outperform” rating in a research report on Wednesday. Finally, Piper Sandler upped their target price on WesBanco from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, July 31st. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, WesBanco presently has a consensus rating of “Hold” and an average price target of $31.20.

View Our Latest Report on WesBanco

WesBanco Trading Up 0.5 %

NASDAQ WSBC opened at $24.56 on Thursday. The firm has a market capitalization of $1.46 billion, a P/E ratio of 8.00 and a beta of 0.92. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.72. The business has a fifty day simple moving average of $26.44 and a 200 day simple moving average of $27.41. WesBanco, Inc. has a 12 month low of $19.84 and a 12 month high of $41.37.

WesBanco (NASDAQ:WSBC – Get Free Report) last announced its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The firm had revenue of $153.41 million during the quarter, compared to the consensus estimate of $151.14 million. WesBanco had a return on equity of 8.49% and a net margin of 26.04%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. On average, analysts predict that WesBanco, Inc. will post 2.61 EPS for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be paid a $0.35 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.40 dividend on an annualized basis and a yield of 5.70%. WesBanco’s dividend payout ratio (DPR) is presently 45.60%.

WesBanco Profile

(Free Report)

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services. The company operates in two segments, Community Banking, and Trust and Investment Services. It offers commercial demand, individual demand, and time deposit accounts; commercial, mortgage and individual installment loans; retail loans, such as residential real estate mortgage loans, home equity lines of credit, and loans for other consumer purposes; installment loans to finance the purchase of automobiles, trucks, motorcycles, boats, and other recreational vehicles, as well as home equity installment loans, unsecured home improvement loans, and revolving lines of credit; and various non-traditional offerings, such as insurance and securities brokerage services.

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