New York State Common Retirement Fund Boosts Stock Position in WesBanco, Inc. (NASDAQ:WSBC)

New York State Common Retirement Fund grew its position in WesBanco, Inc. (NASDAQ:WSBC) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 500,890 shares of the financial services provider’s stock after buying an additional 11,987 shares during the quarter. New York State Common Retirement Fund owned 0.75% of WesBanco worth $14,917,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Smithfield Trust Co lifted its holdings in shares of WesBanco by 0.9% in the 1st quarter. Smithfield Trust Co now owns 49,575 shares of the financial services provider’s stock worth $1,478,000 after buying an additional 423 shares during the period. Inspire Investing LLC lifted its holdings in shares of WesBanco by 4.6% in the 2nd quarter. Inspire Investing LLC now owns 12,630 shares of the financial services provider’s stock worth $353,000 after buying an additional 560 shares during the period. Raymond James Trust N.A. lifted its holdings in shares of WesBanco by 3.9% in the 2nd quarter. Raymond James Trust N.A. now owns 17,380 shares of the financial services provider’s stock worth $485,000 after buying an additional 647 shares during the period. Quarry LP lifted its holdings in shares of WesBanco by 215.3% in the 2nd quarter. Quarry LP now owns 1,337 shares of the financial services provider’s stock worth $37,000 after buying an additional 913 shares during the period. Finally, Signaturefd LLC lifted its holdings in shares of WesBanco by 214.5% in the 2nd quarter. Signaturefd LLC now owns 1,384 shares of the financial services provider’s stock worth $39,000 after buying an additional 944 shares during the period. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

WesBanco Trading Up 2.2 %

Shares of NASDAQ:WSBC opened at $31.65 on Wednesday. The business’s 50-day moving average is $30.61 and its 200 day moving average is $29.48. WesBanco, Inc. has a 1 year low of $24.55 and a 1 year high of $34.85. The firm has a market capitalization of $2.12 billion, a P/E ratio of 15.14 and a beta of 0.81. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93.

WesBanco (NASDAQ:WSBC) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. WesBanco had a return on equity of 5.75% and a net margin of 14.79%. The company had revenue of $243.34 million for the quarter, compared to analyst estimates of $152.40 million. During the same period in the prior year, the company posted $0.59 EPS. On average, research analysts predict that WesBanco, Inc. will post 2.12 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend was Friday, September 6th. WesBanco’s dividend payout ratio is currently 68.90%.

Analyst Ratings Changes

Several equities research analysts have weighed in on WSBC shares. DA Davidson upped their target price on WesBanco from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada reissued a “sector perform” rating and issued a $35.00 price target on shares of WesBanco in a research report on Monday, September 9th. Stephens boosted their price target on WesBanco from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Keefe, Bruyette & Woods boosted their price target on WesBanco from $30.00 to $34.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Finally, Hovde Group boosted their price target on WesBanco from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.17.

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.