WesBanco, Inc. (NASDAQ:WSBC) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its position in shares of WesBanco, Inc. (NASDAQ:WSBC) by 6.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 872,035 shares of the financial services provider’s stock after purchasing an additional 50,704 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in WesBanco were worth $28,376,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP acquired a new position in shares of WesBanco during the 3rd quarter valued at $116,114,000. State Street Corp increased its position in shares of WesBanco by 1.8% during the 3rd quarter. State Street Corp now owns 1,934,453 shares of the financial services provider’s stock valued at $58,313,000 after purchasing an additional 35,030 shares during the period. Geode Capital Management LLC increased its position in shares of WesBanco by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,419,070 shares of the financial services provider’s stock valued at $42,268,000 after purchasing an additional 32,879 shares during the period. FMR LLC grew its holdings in shares of WesBanco by 25.8% in the 3rd quarter. FMR LLC now owns 695,487 shares of the financial services provider’s stock worth $20,712,000 after acquiring an additional 142,597 shares during the last quarter. Finally, New York State Common Retirement Fund grew its holdings in shares of WesBanco by 30.5% in the 4th quarter. New York State Common Retirement Fund now owns 653,656 shares of the financial services provider’s stock worth $21,270,000 after acquiring an additional 152,766 shares during the last quarter. 61.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on WSBC shares. Stephens restated an “equal weight” rating and issued a $39.00 target price on shares of WesBanco in a report on Thursday, January 23rd. StockNews.com upgraded WesBanco from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. DA Davidson lifted their target price on WesBanco from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods upgraded WesBanco from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $40.00 to $44.00 in a report on Monday, February 10th. Finally, Raymond James upgraded WesBanco from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $35.00 to $44.00 in a report on Friday, December 6th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $40.83.

WesBanco Stock Performance

Shares of WesBanco stock opened at $31.98 on Tuesday. The stock has a market cap of $2.14 billion, a PE ratio of 14.28 and a beta of 0.84. The business has a fifty day simple moving average of $33.80 and a 200-day simple moving average of $32.97. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. WesBanco, Inc. has a 12 month low of $25.56 and a 12 month high of $37.36.

WesBanco (NASDAQ:WSBC) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.54 by $0.17. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. On average, sell-side analysts anticipate that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $0.37 per share. The ex-dividend date is Monday, March 10th. This represents a $1.48 dividend on an annualized basis and a yield of 4.63%. WesBanco’s payout ratio is 66.07%.

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.