Naples Global Advisors LLC Acquires 4,548 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Naples Global Advisors LLC increased its holdings in WesBanco, Inc. (NASDAQ:WSBC) by 72.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 10,863 shares of the financial services provider’s stock after buying an additional 4,548 shares during the period. Naples Global Advisors LLC’s holdings in WesBanco were worth $340,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. IFP Advisors Inc grew its holdings in shares of WesBanco by 1.3% in the fourth quarter. IFP Advisors Inc now owns 22,873 shares of the financial services provider’s stock valued at $744,000 after acquiring an additional 304 shares in the last quarter. Comerica Bank grew its holdings in shares of WesBanco by 6.0% in the fourth quarter. Comerica Bank now owns 6,482 shares of the financial services provider’s stock valued at $211,000 after acquiring an additional 368 shares in the last quarter. Principal Securities Inc. grew its holdings in shares of WesBanco by 40.9% in the fourth quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider’s stock valued at $68,000 after acquiring an additional 603 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of WesBanco by 3.4% in the fourth quarter. Bank of Montreal Can now owns 20,092 shares of the financial services provider’s stock valued at $654,000 after acquiring an additional 665 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. grew its holdings in shares of WesBanco by 12.3% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 6,331 shares of the financial services provider’s stock valued at $206,000 after acquiring an additional 695 shares in the last quarter. 61.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

WSBC has been the topic of several research analyst reports. Keefe, Bruyette & Woods dropped their price objective on WesBanco from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, May 5th. Piper Sandler initiated coverage on WesBanco in a research note on Thursday, April 3rd. They issued an “overweight” rating and a $37.00 price objective on the stock. Raymond James dropped their price objective on WesBanco from $44.00 to $38.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 2nd. Finally, Royal Bank of Canada dropped their price objective on WesBanco from $36.00 to $34.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.71.

WesBanco Trading Up 1.4%

NASDAQ:WSBC opened at $30.85 on Friday. The company has a market cap of $2.95 billion, a P/E ratio of 13.77 and a beta of 0.85. The stock’s fifty day moving average price is $29.89 and its two-hundred day moving average price is $32.43. WesBanco, Inc. has a 1 year low of $25.56 and a 1 year high of $37.36. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93.

WesBanco (NASDAQ:WSBC) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.06. The firm had revenue of $253.23 million for the quarter, compared to the consensus estimate of $206.63 million. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. During the same quarter in the prior year, the business posted $0.56 earnings per share. As a group, analysts expect that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.48 annualized dividend and a dividend yield of 4.80%. WesBanco’s dividend payout ratio is currently 96.73%.

About WesBanco

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.