Axxcess Wealth Management LLC Acquires Shares of 8,524 WesBanco, Inc. (NASDAQ:WSBC)

Axxcess Wealth Management LLC bought a new position in shares of WesBanco, Inc. (NASDAQ:WSBC) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,524 shares of the financial services provider’s stock, valued at approximately $267,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WSBC. Vanguard Group Inc. increased its stake in shares of WesBanco by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 5,979,494 shares of the financial services provider’s stock valued at $146,019,000 after purchasing an additional 71,928 shares during the last quarter. Earnest Partners LLC raised its stake in WesBanco by 10.5% during the third quarter. Earnest Partners LLC now owns 1,484,752 shares of the financial services provider’s stock worth $36,258,000 after acquiring an additional 140,870 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of WesBanco by 16.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 762,966 shares of the financial services provider’s stock worth $18,632,000 after acquiring an additional 106,300 shares during the last quarter. FMR LLC boosted its stake in shares of WesBanco by 3,621.1% in the 3rd quarter. FMR LLC now owns 510,682 shares of the financial services provider’s stock valued at $12,471,000 after purchasing an additional 496,958 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in WesBanco by 0.8% in the fourth quarter. New York State Common Retirement Fund now owns 498,605 shares of the financial services provider’s stock valued at $15,641,000 after purchasing an additional 3,829 shares during the period. 61.41% of the stock is currently owned by institutional investors and hedge funds.

WesBanco Trading Up 0.6 %

NASDAQ:WSBC opened at $28.56 on Friday. WesBanco, Inc. has a 12 month low of $21.21 and a 12 month high of $32.20. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 11.90 and a beta of 0.88. The firm has a fifty day simple moving average of $28.42 and a two-hundred day simple moving average of $28.45.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.56. WesBanco had a net margin of 17.52% and a return on equity of 6.50%. The company had revenue of $225.96 million for the quarter, compared to analysts’ expectations of $147.81 million. During the same quarter in the prior year, the firm earned $0.71 EPS. Analysts expect that WesBanco, Inc. will post 2.22 EPS for the current fiscal year.

WesBanco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.44 dividend on an annualized basis and a yield of 5.04%. WesBanco’s dividend payout ratio (DPR) is presently 60.00%.

Analyst Upgrades and Downgrades

Several research analysts have commented on WSBC shares. Stephens cut their target price on WesBanco from $30.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. Hovde Group cut their price objective on WesBanco from $36.00 to $34.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $32.00 price target on shares of WesBanco in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned 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 $30.60.

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.