Hsbc Holdings PLC Purchases 33,705 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Hsbc Holdings PLC raised its position in WesBanco, Inc. (NASDAQ:WSBC) by 347.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,419 shares of the financial services provider’s stock after buying an additional 33,705 shares during the quarter. Hsbc Holdings PLC’s holdings in WesBanco were worth $1,415,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in WSBC. Sterling Capital Management LLC increased its stake in WesBanco by 807.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 1,614 shares during the last quarter. Principal Securities Inc. increased its stake in shares of WesBanco by 40.9% in the 4th 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 last quarter. Roble Belko & Company Inc acquired a new position in shares of WesBanco during the 4th quarter worth $78,000. Allworth Financial LP lifted its position in shares of WesBanco by 668.5% during the 4th 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 last quarter. Finally, Hilltop National Bank boosted its stake in WesBanco by 19.6% in the fourth quarter. Hilltop National Bank now owns 2,518 shares of the financial services provider’s stock valued at $82,000 after buying an additional 413 shares in the last quarter. 61.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on WSBC. Royal Bank of Canada dropped their target price on shares of WesBanco from $36.00 to $34.00 and set a “sector perform” rating for the company in a report on Thursday. Piper Sandler began coverage on shares of WesBanco in a research note on Thursday, April 3rd. They set an “overweight” rating and a $37.00 target price on the stock. DA Davidson increased their price target on WesBanco from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Raymond James cut their price objective on WesBanco from $44.00 to $38.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 2nd. Finally, Stephens reissued an “equal weight” rating and set a $39.00 price target on shares of WesBanco in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $39.29.

WesBanco Price Performance

Shares of WSBC opened at $30.42 on Friday. The business has a 50-day moving average of $30.47 and a 200-day moving average of $32.75. WesBanco, Inc. has a 1 year low of $25.56 and a 1 year high of $37.36. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 13.58 and a beta of 0.76. 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 posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.06. The company had revenue of $253.23 million during the quarter, compared to analysts’ expectations of $206.63 million. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. During the same period in the prior year, the company posted $0.56 earnings per share. As a group, equities research analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date was Monday, March 10th. WesBanco’s dividend payout ratio is 96.73%.

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.