According to a recent disclosure filed with the Securities & Exchange Commission, Wesbanco Bank Inc. has increased its position in shares of Oxford Industries, Inc. by 38.7% during the second quarter of this year. The bank now owns 6,535 shares of the textile maker’s stock, which is an additional 1,825 shares compared to the previous period. At the end of the last quarter, Wesbanco Bank Inc.’s holdings in Oxford Industries were valued at approximately $643,000.
This significant increase in ownership suggests that Wesbanco Bank Inc. has confidence in the potential growth and performance of Oxford Industries. As a financial institution specializing in banking and investment services, their decision to acquire more shares signals a belief in the company’s prospects.
In addition to increasing its holdings, Oxford Industries also recently announced a quarterly dividend for its shareholders. On Friday, October 27th, all stockholders on record as of Friday, October 13th will receive a dividend payment of $0.65 per share held. This dividend represents an annualized payout ratio of $2.60 and offers a dividend yield of 2.71%. It is important to note that investors must be aware of the ex-dividend date, which is Thursday, October 12th.
Oxford Industries’ commitment to providing consistent dividends further enhances its attractiveness to investors who value stability and regular income generation from their investments. The company’s strong financial standing allows it to distribute a portion of its profits back to shareholders through dividends.
Overall, these developments reflect positively on both Wesbanco Bank Inc.’s confidence in Oxford Industries’ performance and Oxford Industries’ commitment to delivering returns for its shareholders through dividends. Investors should closely monitor these activities and evaluate them within their own investment strategies.
Please note that this article references information available as of September 22nd, 2023 and may not reflect any updates or changes made after this date.
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Institutional Investors Adjust Positions in Oxford Industries Amidst Stock Fluctuations and Analyst Ratings
Institutional investors have been making changes to their positions in Oxford Industries (NYSE:OXM), a textile maker whose stock has recently seen fluctuations in value. PNC Financial Services Group Inc., for example, boosted its stake in Oxford Industries by 52.5% during the first quarter, bringing its ownership to 4,283 shares valued at $388,000 after purchasing an additional 1,475 shares. Bank of Montreal Can also increased its stake by 5.8% during the same period, acquiring an additional 286 shares and owning a total of 5,204 shares worth $488,000. MetLife Investment Management LLC increased its stake by an impressive 62.5% and now possesses 8,637 shares valued at $782,000 after acquiring an additional 3,323 shares. Rhumbline Advisers also saw a slight increase in its stake of Oxford Industries by 2.9%, with the ownership of 46,460 shares equating to a value of $4,205,000 after purchasing an additional 1,311 shares during the first quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position by 14%, now holding a total of 13,688 shares valued at $1,239,000 after adding another 1,685 shares.
It is important to highlight that institutional investors currently own approximately 87.89% of Oxford Industries’ stock.
Recently released reports from several equities research analysts have shed light on the status of Oxford Industries (NYSE:OXM). For instance, StockNews.com downgraded its rating for the company from “buy” to “hold.” Citigroup has revised its price target downwards from $101.00 to $98.00 for OXM’s share while UBS Group lowered it even further from $110.00 to $108.00 and provided a “neutral” rating for the company. Telsey Advisory Group likewise reduced its price target from $115.00 to $107.00 and gave a “market perform” rating for Oxford Industries.
On September 22, 2023, shares of OXM opened at $95.84, indicating a noticeable decrease from previous levels. The company’s performance can be analyzed using its 50-day simple moving average which currently stands at $102.20, while its two-hundred day simple moving average is slightly higher at $103.55.
Oxford Industries boasts a market capitalization of $1.50 billion with a price-to-earnings (P/E) ratio of 9.51 as of September 22, 2023. The company carries a beta value of 1.52 and has maintained a debt-to-equity ratio of 0.08, showing its financial stability and ability to manage its debts effectively.
Notably, Oxford Industries released its quarterly earnings results on August 31st, reporting an EPS (earnings per share) of $3.45 for the quarter just shy of analysts’ consensus estimate by ($0.01). The net margin for Oxford Industries stood at 10.53%, coupled with an impressive return on equity of 30.33%. However, the company’s revenue for the quarter was slightly below market expectations at $420.32 million compared to the consensus estimate of $424.27 million. Despite this slight dip in revenue, there was still growth year-over-year with an increase by 15.7% in comparison to the same quarter last year when the company posted earnings per share (EPS) amounting to $3.61.
Based on research analysis projections, investors anticipate that Oxford Industries will post an EPS figure of approximately 10.51 for this current fiscal year.
In conclusion, while several institutional investors have made changes to their positions in Oxford Industries recently and the company’s stock has undergone fluctuations in value, it is important to consider the ratings issued by equities research analysts. Oxford Industries has a strong market presence, with a decent performance reflected in its financial ratios and quarterly earnings results. However, it remains to be seen whether the company will meet revenue expectations moving forward. As always, investors should exercise caution and carefully evaluate all factors before making any investment decisions.
