Hennion & Walsh Asset Management Inc. Purchases New Holdings in WesBanco, Inc. (NASDAQ:WSBC)

Hennion & Walsh Asset Management Inc. purchased a new stake in WesBanco, Inc. (NASDAQ:WSBC) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,433 shares of the financial services provider’s stock, valued at approximately $222,000.

Other institutional investors have also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. acquired a new position in WesBanco in the 4th quarter valued at about $31,000. Principal Securities Inc. acquired a new position in WesBanco in the 4th quarter valued at about $43,000. Sound Income Strategies LLC increased its position in WesBanco by 2,688.7% in the 4th quarter. Sound Income Strategies LLC now owns 1,478 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 1,425 shares during the period. TFO Wealth Partners LLC increased its position in WesBanco by 26,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 3,156 shares of the financial services provider’s stock valued at $99,000 after acquiring an additional 3,144 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in WesBanco by 34.6% in 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 in the last quarter. Institutional investors and hedge funds own 61.41% of the company’s stock.

WesBanco Price Performance

Shares of NASDAQ:WSBC opened at $27.56 on Friday. 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, Inc. has a 12 month low of $23.00 and a 12 month high of $32.20. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 11.48 and a beta of 0.84. The business’s 50 day simple moving average is $27.44 and its 200-day simple moving average is $28.62.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.56. WesBanco had a return on equity of 6.50% and a net margin of 17.52%. The firm had revenue of $225.96 million during the quarter, compared to the consensus estimate of $147.81 million. During the same period in the previous year, the firm posted $0.71 EPS. As a group, equities analysts forecast that WesBanco, Inc. will post 2.21 earnings per share for the current fiscal 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 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 dividend yield of 5.22%. WesBanco’s dividend payout ratio is currently 60.00%.

Wall Street Analysts Forecast Growth

WSBC has been the topic of a number of analyst reports. Stephens lowered their price objective on WesBanco from $30.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $32.00 price objective on shares of WesBanco in a report on Tuesday, April 9th. Finally, Hovde Group lowered their price objective on WesBanco from $36.00 to $34.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $30.60.

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.