Victory Capital Management Inc. Sells 49,574 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Victory Capital Management Inc. trimmed its holdings in WesBanco, Inc. (NASDAQ:WSBC) by 30.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 113,107 shares of the financial services provider’s stock after selling 49,574 shares during the quarter. Victory Capital Management Inc.’s holdings in WesBanco were worth $3,681,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in WesBanco in the 3rd quarter valued at about $56,000. Principal Securities Inc. lifted its holdings in shares of WesBanco by 40.9% in the fourth 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 in the last quarter. Roble Belko & Company Inc purchased a new position in shares of WesBanco during the fourth quarter valued at approximately $78,000. Allworth Financial LP boosted its position in shares of WesBanco by 668.5% during the fourth quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider’s stock valued at $78,000 after buying an additional 2,146 shares during the last quarter. Finally, Hilltop National Bank grew its holdings in WesBanco by 19.6% during the fourth quarter. Hilltop National Bank now owns 2,518 shares of the financial services provider’s stock worth $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.

WesBanco Stock Up 2.7 %

WSBC opened at $31.76 on Friday. 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, Inc. has a one year low of $25.56 and a one year high of $37.36. The firm has a market capitalization of $2.13 billion, a P/E ratio of 14.18 and a beta of 0.84. The company has a fifty day moving average price of $33.80 and a 200-day moving average price of $32.96.

WesBanco (NASDAQ:WSBC) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.17. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. Equities research analysts expect that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date of this dividend is Monday, March 10th. WesBanco’s dividend payout ratio is currently 66.07%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Raymond James upgraded shares of WesBanco from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $35.00 to $44.00 in a research note on Friday, December 6th. Stephens reiterated an “equal weight” rating and issued a $39.00 price objective on shares of WesBanco in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods upgraded WesBanco from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $40.00 to $44.00 in a research note on Monday, February 10th. DA Davidson increased their price target on WesBanco from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, StockNews.com upgraded WesBanco from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.83.

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.