Mirae Asset Global Investments Co. Ltd. Grows Position in WesBanco, Inc. (NASDAQ:WSBC)

Mirae Asset Global Investments Co. Ltd. boosted its stake in WesBanco, Inc. (NASDAQ:WSBC) by 3.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,336 shares of the financial services provider’s stock after buying an additional 900 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in WesBanco were worth $826,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in WSBC. Sound Income Strategies LLC raised its stake in shares of WesBanco by 2,688.7% during the 4th quarter. Sound Income Strategies LLC now owns 1,478 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 1,425 shares during the period. EMC Capital Management bought a new stake in shares of WesBanco during the 3rd quarter worth $51,000. SG Americas Securities LLC bought a new stake in shares of WesBanco during the 3rd quarter worth $223,000. Watershed Asset Management L.L.C. raised its stake in shares of WesBanco by 12.2% during the 3rd quarter. Watershed Asset Management L.L.C. now owns 10,064 shares of the financial services provider’s stock worth $246,000 after purchasing an additional 1,092 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of WesBanco by 27.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,519 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 2,516 shares during the period. 61.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WSBC. Stephens reiterated an “equal weight” rating and set a $30.00 target price on shares of WesBanco in a research note on Wednesday. Hovde Group decreased their price objective on WesBanco from $36.00 to $34.00 and set an “outperform” rating for the company in a report on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $32.00 price objective on shares of WesBanco in a report on Tuesday, April 9th. Finally, Raymond James raised WesBanco from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, WesBanco presently has an average rating of “Hold” and a consensus target price of $31.17.

WesBanco Stock Down 2.5 %

WSBC stock opened at $28.28 on Thursday. The stock has a 50-day simple moving average of $28.64 and a two-hundred day simple moving average of $28.23. The firm has a market capitalization of $1.68 billion, a PE ratio of 11.27 and a beta of 0.86. WesBanco, Inc. has a twelve month low of $19.84 and a twelve month high of $32.20. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68.

WesBanco (NASDAQ:WSBC) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.56. The company had revenue of $225.96 million during the quarter, compared to the consensus estimate of $147.81 million. WesBanco had a return on equity of 6.94% and a net margin of 19.11%. During the same quarter in the previous year, the company posted $0.71 EPS. On average, equities analysts predict that WesBanco, Inc. will post 2.27 EPS for the current fiscal year.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were given a $0.36 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.44 dividend on an annualized basis and a yield of 5.09%. WesBanco’s payout ratio is 57.37%.

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.