Wesbanco Bank Inc. Invests $468,000 in Bloomin’ Brands, Inc. (NASDAQ:BLMN)

Posted by on Mar 28th, 2023

Wesbanco Bank Inc. purchased a new position in shares of Bloomin’ Brands, Inc. (NASDAQ:BLMN – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 23,264 shares of the restaurant operator’s stock, valued at approximately $468,000.

Several other hedge funds have also recently modified their holdings of the stock. Advisor Group Holdings Inc. raised its position in shares of Bloomin’ Brands by 6.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 9,030 shares of the restaurant operator’s stock worth $198,000 after purchasing an additional 525 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Bloomin’ Brands by 10.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,339 shares of the restaurant operator’s stock worth $160,000 after purchasing an additional 700 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Bloomin’ Brands by 2.7% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 27,113 shares of the restaurant operator’s stock worth $497,000 after purchasing an additional 713 shares during the last quarter. Total Clarity Wealth Management Inc. raised its position in shares of Bloomin’ Brands by 3.3% during the 3rd quarter. Total Clarity Wealth Management Inc. now owns 23,020 shares of the restaurant operator’s stock worth $422,000 after purchasing an additional 726 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Bloomin’ Brands by 1.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 61,823 shares of the restaurant operator’s stock worth $1,133,000 after purchasing an additional 794 shares during the last quarter.

Insider Buying and Selling at Bloomin’ Brands

In other Bloomin’ Brands news, Director Elizabeth A. Smith sold 64,295 shares of the firm’s stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $27.89, for a total value of $1,793,187.55. Following the completion of the transaction, the director now owns 243,594 shares of the company’s stock, valued at approximately $6,793,836.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BLMN has been the subject of several research analyst reports. Citigroup upped their price target on shares of Bloomin’ Brands from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday, February 17th. UBS Group raised their price target on shares of Bloomin’ Brands from $23.00 to $28.00 in a report on Monday, February 20th. Raymond James raised their price target on shares of Bloomin’ Brands from $30.00 to $33.00 and gave the stock a “strong-buy” rating in a report on Friday, February 17th. Bank of America began coverage on shares of Bloomin’ Brands in a report on Wednesday, January 25th. They set a “neutral” rating and a $27.00 price target for the company. Finally, Credit Suisse Group raised their price target on shares of Bloomin’ Brands from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Friday, February 17th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.55.

Bloomin’ Brands Stock Performance

NASDAQ:BLMN opened at $25.08 on Tuesday. The company has a debt-to-equity ratio of 3.04, a quick ratio of 0.27 and a current ratio of 0.35. The stock has a market capitalization of $2.20 billion, a P/E ratio of 26.13, a PEG ratio of 0.70 and a beta of 1.87. The company has a 50 day moving average price of $25.33 and a 200 day moving average price of $22.78. Bloomin’ Brands, Inc. has a fifty-two week low of $15.89 and a fifty-two week high of $28.46.

Bloomin’ Brands (NASDAQ:BLMN – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The restaurant operator reported $0.68 EPS for the quarter, beating the consensus estimate of $0.63 by $0.05. Bloomin’ Brands had a net margin of 2.31% and a return on equity of 89.75%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the company posted $0.60 EPS. The firm’s revenue was up 4.6% compared to the same quarter last year. Equities research analysts forecast that Bloomin’ Brands, Inc. will post 2.9 EPS for the current year.

Bloomin’ Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend was Tuesday, February 28th. This is a boost from Bloomin’ Brands’s previous quarterly dividend of $0.14. Bloomin’ Brands’s dividend payout ratio (DPR) is currently 100.00%.

Bloomin’ Brands Company Profile

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Bloomin’ Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.

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Institutional Ownership by Quarter for Bloomin' Brands (NASDAQ:BLMN)

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