Wesbanco Bank Inc. Reduces Stake in WesBanco, Inc. (WSBC)
Wesbanco Bank Inc. lowered its position in WesBanco, Inc. (NASDAQ:WSBC) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,649,089 shares of the financial services provider’s stock after selling 6,276 shares during the period. WesBanco comprises 3.6% of Wesbanco Bank Inc.’s holdings, making the stock its largest position. Wesbanco Bank Inc. owned approximately 3.75% of WesBanco worth $65,205,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of WSBC. Vanguard Group Inc. raised its position in shares of WesBanco by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,461,403 shares of the financial services provider’s stock worth $131,915,000 after buying an additional 152,785 shares during the period. Dimensional Fund Advisors LP raised its position in shares of WesBanco by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 3,322,353 shares of the financial services provider’s stock worth $126,615,000 after buying an additional 132,877 shares during the period. BlackRock Inc. raised its position in shares of WesBanco by 25,298.2% in the first quarter. BlackRock Inc. now owns 2,653,602 shares of the financial services provider’s stock worth $101,129,000 after buying an additional 2,643,154 shares during the period. Macquarie Group Ltd. raised its position in shares of WesBanco by 2.2% in the first quarter. Macquarie Group Ltd. now owns 1,373,968 shares of the financial services provider’s stock worth $52,362,000 after buying an additional 30,212 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of WesBanco by 20.0% in the first quarter. Renaissance Technologies LLC now owns 401,742 shares of the financial services provider’s stock worth $15,310,000 after buying an additional 67,069 shares during the period. Institutional investors own 58.12% of the company’s stock.
WesBanco, Inc. (WSBC) traded up 0.78% during mid-day trading on Wednesday, hitting $37.48. The stock had a trading volume of 9,935 shares. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 17.12 and a beta of 0.94. The stock’s 50 day moving average price is $38.05 and its 200 day moving average price is $38.79. WesBanco, Inc. has a one year low of $31.63 and a one year high of $44.19.
WesBanco (NASDAQ:WSBC) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by $0.01. The company had revenue of $94.26 million for the quarter, compared to analysts’ expectations of $96.70 million. WesBanco had a return on equity of 7.55% and a net margin of 23.44%. During the same quarter in the prior year, the company earned $0.58 EPS. Analysts forecast that WesBanco, Inc. will post $2.45 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.80%. WesBanco’s dividend payout ratio is currently 47.71%.
A number of research analysts have recently commented on WSBC shares. Zacks Investment Research lowered WesBanco from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. BidaskClub lowered WesBanco from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. FBR & Co cut their price target on WesBanco from $44.00 to $40.00 and set a “mkt perform” rating for the company in a report on Friday, July 21st. DA Davidson upgraded WesBanco from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a report on Friday, June 2nd. Finally, ValuEngine upgraded WesBanco from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $41.60.
In other WesBanco news, EVP Brent E. Richmond sold 1,440 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $36.83, for a total transaction of $53,035.20. Following the sale, the executive vice president now owns 22,701 shares in the company, valued at $836,077.83. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.05% of the company’s stock.
WesBanco, Inc (WesBanco) is a bank holding company. The Company offers a range of financial services, including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. WesBanco offers its services through two segments: community banking, which offers services, such as commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and trust and investment services, which offers trust services, as well as various alternative investment products, including mutual funds.
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