Earnest Partners LLC Sells 16,709 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Earnest Partners LLC decreased its stake in shares of WesBanco, Inc. (NASDAQ:WSBC) by 1.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,426,686 shares of the financial services provider’s stock after selling 16,709 shares during the quarter. Earnest Partners LLC’s holdings in WesBanco were worth $42,530,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System increased its holdings in shares of WesBanco by 105.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 33,820 shares of the financial services provider’s stock worth $1,038,000 after purchasing an additional 17,345 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in WesBanco by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 811,270 shares of the financial services provider’s stock valued at $25,450,000 after purchasing an additional 48,304 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of WesBanco by 3,037.0% in the 4th quarter. International Assets Investment Management LLC now owns 102,549 shares of the financial services provider’s stock valued at $3,269,000 after purchasing an additional 99,280 shares during the period. Edgestream Partners L.P. acquired a new position in shares of WesBanco in the 1st quarter worth approximately $3,555,000. Finally, Vanguard Group Inc. lifted its position in shares of WesBanco by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 5,979,494 shares of the financial services provider’s stock worth $146,019,000 after buying an additional 71,928 shares during the period. Institutional investors own 61.41% of the company’s stock.

WesBanco Trading Down 1.9 %

Shares of NASDAQ WSBC traded down $0.63 during midday trading on Monday, hitting $32.15. The stock had a trading volume of 477,779 shares, compared to its average volume of 199,308. The company’s 50-day simple moving average is $28.43 and its 200 day simple moving average is $28.62. The firm has a market cap of $1.91 billion, a P/E ratio of 13.40 and a beta of 0.84. WesBanco, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $34.85. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.91 and a quick ratio of 0.91.

WesBanco (NASDAQ:WSBC) last released its earnings results on Friday, July 26th. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). The firm had revenue of $234.35 million during the quarter, compared to analyst estimates of $148.40 million. WesBanco had a net margin of 15.22% and a return on equity of 5.92%. During the same period last year, the business posted $0.71 earnings per share. Research analysts anticipate that WesBanco, Inc. will post 2.21 EPS for the current year.

WesBanco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.48%. WesBanco’s dividend payout ratio (DPR) is presently 60.00%.

Wall Street Analysts Forecast Growth

WSBC has been the subject of several analyst reports. Royal Bank of Canada raised their target price on WesBanco from $32.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Monday. Stephens cut their target price on WesBanco from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Hovde Group raised their target price on WesBanco from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, DA Davidson raised their target price on WesBanco from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, WesBanco presently has a consensus rating of “Hold” and an average target price of $33.67.

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.