Denali Advisors LLC Sells 1,400 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Denali Advisors LLC reduced its position in WesBanco, Inc. (NASDAQ:WSBC) by 7.5% in the 1st quarter, HoldingsChannel reports. The firm owned 17,300 shares of the financial services provider’s stock after selling 1,400 shares during the period. Denali Advisors LLC’s holdings in WesBanco were worth $516,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of WSBC. Founders Financial Securities LLC raised its stake in WesBanco by 6.1% in the first quarter. Founders Financial Securities LLC now owns 7,612 shares of the financial services provider’s stock valued at $227,000 after buying an additional 436 shares during the period. Hennion & Walsh Asset Management Inc. bought a new position in shares of WesBanco during the 1st quarter worth approximately $222,000. Bridge City Capital LLC increased its holdings in shares of WesBanco by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 84,607 shares of the financial services provider’s stock worth $2,522,000 after acquiring an additional 663 shares during the last quarter. Moody National Bank Trust Division raised its stake in WesBanco by 17.5% in the 1st quarter. Moody National Bank Trust Division now owns 17,165 shares of the financial services provider’s stock valued at $512,000 after acquiring an additional 2,552 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in WesBanco by 34.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,292 shares of the financial services provider’s stock valued at $197,000 after purchasing an additional 1,617 shares during the last quarter. Institutional investors own 61.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on WSBC. Royal Bank of Canada reiterated a “sector perform” rating and issued a $32.00 price objective on shares of WesBanco in a report on Tuesday, April 9th. Hovde Group decreased their price target on shares of WesBanco from $36.00 to $34.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Finally, Stephens lowered their price target on shares of WesBanco from $30.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, WesBanco has a consensus rating of “Hold” and a consensus target price of $30.60.

WesBanco Stock Down 1.9 %

WSBC stock opened at $27.56 on Thursday. WesBanco, Inc. has a 52 week low of $23.00 and a 52 week high of $32.20. The business has a 50-day simple moving average of $27.44 and a 200 day simple moving average of $28.63. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.58. The company has a market cap of $1.64 billion, a PE ratio of 11.48 and a beta of 0.84.

WesBanco (NASDAQ:WSBC) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 EPS for the quarter, meeting the consensus estimate of $0.56. WesBanco had a net margin of 17.52% and a return on equity of 6.50%. The company had revenue of $225.96 million during the quarter, compared to analysts’ expectations of $147.81 million. During the same period in the previous year, the company earned $0.71 EPS. Sell-side analysts anticipate that WesBanco, Inc. will post 2.21 EPS for the current fiscal year.

WesBanco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.44 annualized dividend and a yield of 5.22%. WesBanco’s dividend payout ratio is currently 60.00%.

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.