Magnolia Private Wealth LLC Buys Shares of 8,275 WesBanco, Inc. (NASDAQ:WSBC)

Magnolia Private Wealth LLC purchased a new stake in shares of WesBanco, Inc. (NASDAQ:WSBC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,275 shares of the financial services provider’s stock, valued at approximately $269,000.

A number of other hedge funds have also modified their holdings of the stock. Creative Planning increased its position in WesBanco by 17.5% in the 3rd quarter. Creative Planning now owns 37,349 shares of the financial services provider’s stock worth $1,112,000 after purchasing an additional 5,552 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of WesBanco by 2,878.0% in the 3rd quarter. International Assets Investment Management LLC now owns 97,351 shares of the financial services provider’s stock valued at $2,899,000 after buying an additional 94,082 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in WesBanco by 1,011.9% in the third quarter. Nisa Investment Advisors LLC now owns 9,340 shares of the financial services provider’s stock worth $282,000 after buying an additional 8,500 shares during the last quarter. SteelPeak Wealth LLC bought a new position in WesBanco during the third quarter valued at approximately $228,000. Finally, New York State Common Retirement Fund lifted its stake in WesBanco by 2.5% in the third quarter. New York State Common Retirement Fund now owns 500,890 shares of the financial services provider’s stock valued at $14,917,000 after acquiring an additional 11,987 shares during the last quarter. 61.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WSBC has been the topic of several analyst reports. 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. Keefe, Bruyette & Woods raised shares of WesBanco from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $40.00 to $44.00 in a research report on Monday, February 10th. Raymond James raised WesBanco from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $35.00 to $44.00 in a research report on Friday, December 6th. StockNews.com raised WesBanco from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, Stephens reissued an “equal weight” rating and issued a $39.00 price objective on shares of WesBanco in a research note on Thursday, January 23rd. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, WesBanco currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.83.

WesBanco Stock Up 0.1 %

WSBC opened at $35.13 on Wednesday. WesBanco, Inc. has a 1-year low of $25.56 and a 1-year high of $37.36. The business has a 50 day moving average of $33.81 and a 200-day moving average of $32.80. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 15.68 and a beta of 0.84. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.17. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. As a group, sell-side analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current year.

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.