Centiva Capital LP Trims Position in WesBanco, Inc. (NASDAQ:WSBC)

Centiva Capital LP decreased its position in shares of WesBanco, Inc. (NASDAQ:WSBC) by 47.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,533 shares of the financial services provider’s stock after selling 10,527 shares during the quarter. Centiva Capital LP’s holdings in WesBanco were worth $375,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Bridgeway Capital Management LLC lifted its stake in shares of WesBanco by 3.0% during the fourth quarter. Bridgeway Capital Management LLC now owns 329,398 shares of the financial services provider’s stock valued at $10,719,000 after buying an additional 9,466 shares during the period. Captrust Financial Advisors raised its stake in WesBanco by 36.7% during the fourth quarter. Captrust Financial Advisors now owns 14,158 shares of the financial services provider’s stock worth $461,000 after purchasing an additional 3,803 shares during the period. Bank of America Corp DE raised its stake in WesBanco by 8.2% during the fourth quarter. Bank of America Corp DE now owns 1,537,252 shares of the financial services provider’s stock worth $50,022,000 after purchasing an additional 116,796 shares during the period. Ameriprise Financial Inc. raised its stake in WesBanco by 5.5% during the fourth quarter. Ameriprise Financial Inc. now owns 75,949 shares of the financial services provider’s stock worth $2,472,000 after purchasing an additional 3,944 shares during the period. Finally, Comerica Bank raised its stake in WesBanco by 6.0% during the fourth quarter. Comerica Bank now owns 6,482 shares of the financial services provider’s stock worth $211,000 after purchasing an additional 368 shares during the period. Hedge funds and other institutional investors own 61.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Stephens reaffirmed an “equal weight” rating and set a $39.00 price target on shares of WesBanco in a research note on Thursday, January 23rd. Royal Bank of Canada cut their price target on shares of WesBanco from $36.00 to $34.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 1st. Piper Sandler assumed coverage on shares of WesBanco in a research note on Thursday, April 3rd. They set an “overweight” rating and a $37.00 price target on the stock. DA Davidson increased their price target on shares of WesBanco from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Raymond James dropped their price objective on shares of WesBanco from $44.00 to $38.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.71.

WesBanco Price Performance

WesBanco stock opened at $30.79 on Monday. WesBanco, Inc. has a 52-week low of $25.56 and a 52-week high of $37.36. The firm has a fifty day moving average of $30.06 and a 200-day moving average of $32.75. The firm has a market capitalization of $2.06 billion, a P/E ratio of 13.75 and a beta of 0.81. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.06. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. The company had revenue of $253.23 million during the quarter, compared to analyst estimates of $206.63 million. During the same quarter in the prior year, the business earned $0.56 earnings per share. As a group, analysts predict that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend was Monday, March 10th. WesBanco’s payout ratio is 96.73%.

WesBanco 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.