WesBanco, Inc. (NASDAQ:WSBC) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its position in WesBanco, Inc. (NASDAQ:WSBC) by 32.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 60,396 shares of the financial services provider’s stock after acquiring an additional 14,950 shares during the period. Oppenheimer Asset Management Inc.’s holdings in WesBanco were worth $1,965,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC boosted its holdings in WesBanco by 2.4% in the third 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. Franklin Resources Inc. purchased a new position in WesBanco in the third quarter valued at $1,148,000. FMR LLC boosted its holdings in WesBanco by 25.8% in the third quarter. FMR LLC now owns 695,487 shares of the financial services provider’s stock valued at $20,712,000 after purchasing an additional 142,597 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in WesBanco in the third quarter valued at $212,000. Finally, Magnolia Private Wealth LLC purchased a new position in WesBanco in the fourth quarter valued at $269,000. 61.41% of the stock is owned by institutional investors and hedge funds.

WesBanco Stock Down 0.3 %

Shares of NASDAQ WSBC opened at $35.07 on Monday. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 15.66 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93. The business has a 50-day moving average of $33.93 and a two-hundred day moving average of $32.91. WesBanco, Inc. has a 1 year low of $25.56 and a 1 year high of $37.36.

WesBanco (NASDAQ:WSBC) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, beating 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, analysts forecast that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend is Monday, March 10th. WesBanco’s payout ratio is currently 66.07%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Raymond James upgraded WesBanco from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $35.00 to $44.00 in a report on Friday, December 6th. Stephens reiterated an “equal weight” rating and issued a $39.00 target price on shares of WesBanco in a report on Thursday, January 23rd. DA Davidson lifted 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. StockNews.com raised WesBanco from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, 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 report on Monday, February 10th. Three 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.83.

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.