Atlantic Union Bankshares Corp Acquires New Stake in WesBanco, Inc. (NASDAQ:WSBC)

Atlantic Union Bankshares Corp acquired a new position in shares of WesBanco, Inc. (NASDAQ:WSBC) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,171 shares of the financial services provider’s stock, valued at approximately $201,000.

Other large investors also recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new stake in WesBanco in the third quarter valued at $56,000. Principal Securities Inc. lifted its stake 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 purchasing an additional 603 shares during the period. Roble Belko & Company Inc purchased a new stake in WesBanco during the fourth quarter worth about $78,000. Allworth Financial LP grew its position in WesBanco by 668.5% during the fourth quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider’s stock worth $78,000 after buying an additional 2,146 shares during the period. Finally, Hilltop National Bank grew its position in WesBanco by 19.6% during the fourth quarter. Hilltop National Bank now owns 2,518 shares of the financial services provider’s stock worth $82,000 after buying an additional 413 shares during the period. Hedge funds and other institutional investors own 61.41% of the company’s stock.

WesBanco Price Performance

WSBC opened at $32.63 on Monday. WesBanco, Inc. has a 1 year low of $25.56 and a 1 year high of $37.36. The company’s 50 day simple moving average is $33.93 and its 200 day simple moving average is $33.00. The stock has a market capitalization of $2.18 billion, a PE ratio of 14.57 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.17. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. As a group, sell-side 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, April 1st. Stockholders of record on Monday, March 10th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend is Monday, March 10th. WesBanco’s payout ratio is 66.07%.

Analysts Set New Price Targets

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

WesBanco 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.