Geode Capital Management LLC boosted its position in shares of WesBanco, Inc. (NASDAQ:WSBC) by 4.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 345,421 shares of the financial services provider’s stock after buying an additional 14,647 shares during the period. Geode Capital Management LLC owned about 0.79% of WesBanco worth $13,163,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of WSBC. IFP Advisors Inc raised its stake in shares of WesBanco by 0.5% in the first quarter. IFP Advisors Inc now owns 16,894 shares of the financial services provider’s stock worth $644,000 after buying an additional 92 shares during the last quarter. Schneider Downs Wealth Management Advisors LP raised its stake in shares of WesBanco by 0.6% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 21,816 shares of the financial services provider’s stock worth $831,000 after buying an additional 120 shares during the last quarter. AMG Funds LLC raised its stake in shares of WesBanco by 1.1% in the first quarter. AMG Funds LLC now owns 21,172 shares of the financial services provider’s stock worth $807,000 after buying an additional 222 shares during the last quarter. Blair William & Co. IL raised its stake in shares of WesBanco by 2.3% in the first quarter. Blair William & Co. IL now owns 10,960 shares of the financial services provider’s stock worth $421,000 after buying an additional 243 shares during the last quarter. Finally, BB&T Corp raised its stake in shares of WesBanco by 2.8% in the first quarter. BB&T Corp now owns 9,031 shares of the financial services provider’s stock worth $345,000 after buying an additional 250 shares during the last quarter. 56.07% of the stock is owned by institutional investors and hedge funds.
Shares of WesBanco, Inc. (WSBC) traded up 0.22% during mid-day trading on Friday, reaching $35.95. The company’s stock had a trading volume of 67,033 shares. The company has a market cap of $1.58 billion, a P/E ratio of 16.42 and a beta of 0.94. WesBanco, Inc. has a 12 month low of $31.09 and a 12 month high of $44.19. The company has a 50-day moving average of $38.63 and a 200-day moving average of $38.99.
WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.01. The firm had revenue of $94.26 million for the quarter, compared to the consensus estimate of $96.70 million. WesBanco had a net margin of 23.44% and a return on equity of 7.55%. During the same period last year, the business earned $0.58 EPS. Equities research analysts forecast that WesBanco, Inc. will post $2.45 earnings per share for the current fiscal year.
A number of analysts recently commented on the company. Zacks Investment Research lowered WesBanco from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. BidaskClub lowered WesBanco from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. DA Davidson raised WesBanco from a “neutral” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Friday, June 2nd. FBR & Co decreased their price objective on WesBanco from $44.00 to $40.00 and set a “mkt perform” rating for the company in a report on Friday, July 21st. Finally, ValuEngine raised WesBanco from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $41.60.
About WesBanco
WesBanco, Inc (WesBanco) is a bank holding company. The Company offers a range of financial services, including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. WesBanco offers its services through two segments: community banking, which offers services, such as commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and trust and investment services, which offers trust services, as well as various alternative investment products, including mutual funds.
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