WesBanco, Inc. (NASDAQ:WSBC) Shares Purchased by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC increased its stake in shares of WesBanco, Inc. (NASDAQ:WSBC – Free Report) by 27.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 145,129 shares of the financial services provider’s stock after purchasing an additional 31,410 shares during the quarter. Brandywine Global Investment Management LLC owned 0.24% of WesBanco worth $4,455,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on WSBC. Hovde Group raised WesBanco from a “market perform” rating to an “outperform” rating in a report on Wednesday. StockNews.com raised WesBanco from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Piper Sandler lifted their price target on WesBanco from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, July 31st. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, WesBanco currently has an average rating of “Hold” and an average target price of $31.20.

Read Our Latest Research Report on WesBanco

WesBanco Trading Down 1.3 %

WesBanco stock opened at $24.86 on Friday. The stock has a market cap of $1.48 billion, a PE ratio of 8.10 and a beta of 0.92. The stock has a 50-day moving average price of $26.43 and a 200 day moving average price of $27.25. WesBanco, Inc. has a 52 week low of $19.84 and a 52 week high of $41.37. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.72.

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

WesBanco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.63%. The ex-dividend date is Thursday, September 7th. WesBanco’s dividend payout ratio is presently 45.60%.

About WesBanco

(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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