WesBanco, Inc. (NASDAQ:WSBC) Shares Purchased by Peregrine Capital Management LLC

Peregrine Capital Management LLC grew its stake in shares of WesBanco, Inc. (NASDAQ:WSBC) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 190,629 shares of the financial services provider’s stock after purchasing an additional 5,637 shares during the quarter. Peregrine Capital Management LLC owned 0.29% of WesBanco worth $6,203,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of WesBanco by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,419,070 shares of the financial services provider’s stock valued at $42,268,000 after buying an additional 32,879 shares during the period. Franklin Resources Inc. purchased a new stake in shares of WesBanco during the third quarter valued at approximately $1,148,000. FMR LLC lifted its position in shares of WesBanco by 25.8% during the third quarter. FMR LLC now owns 695,487 shares of the financial services provider’s stock worth $20,712,000 after purchasing an additional 142,597 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of WesBanco in the third quarter valued at $212,000. Finally, Cerity Partners LLC grew its holdings in WesBanco by 3.0% during the 3rd quarter. Cerity Partners LLC now owns 30,049 shares of the financial services provider’s stock valued at $895,000 after purchasing an additional 867 shares in the last quarter. Institutional investors and hedge funds own 61.41% of the company’s stock.

WesBanco Price Performance

Shares of NASDAQ WSBC opened at $36.59 on Wednesday. The business has a 50 day simple moving average of $33.76 and a 200-day simple moving average of $32.60. WesBanco, Inc. has a twelve month low of $25.56 and a twelve month high of $37.36. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 16.33 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 released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, beating 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, equities research analysts expect that WesBanco, Inc. will post 3.24 earnings per share for the current year.

Analyst Ratings Changes

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

About WesBanco

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.