Brandywine Global Investment Management LLC Has $5.30 Million Holdings in WesBanco, Inc. (WSBC)
Brandywine Global Investment Management LLC lowered its position in shares of WesBanco, Inc. (NASDAQ:WSBC) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 133,948 shares of the financial services provider’s stock after selling 4,128 shares during the quarter. Brandywine Global Investment Management LLC owned 0.30% of WesBanco worth $5,297,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Ameritas Investment Partners Inc. purchased a new position in WesBanco during the 1st quarter worth $132,000. Smithfield Trust Co. purchased a new position in WesBanco during the 2nd quarter worth $138,000. Sei Investments Co. raised its position in WesBanco by 4,236.6% during the 2nd quarter. Sei Investments Co. now owns 4,380 shares of the financial services provider’s stock worth $174,000 after buying an additional 4,279 shares during the last quarter. Amalgamated Bank purchased a new position in WesBanco during the 2nd quarter worth $211,000. Finally, Victory Capital Management Inc. raised its position in WesBanco by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 5,350 shares of the financial services provider’s stock worth $212,000 after buying an additional 801 shares during the last quarter. Institutional investors own 57.72% of the company’s stock.
A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods restated a “hold” rating and set a $41.00 price objective on shares of WesBanco in a research report on Tuesday. FBR & Co restated a “mkt perform” rating and set a $40.00 price objective (down previously from $44.00) on shares of WesBanco in a research report on Thursday, July 20th. BidaskClub upgraded shares of WesBanco from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Finally, Zacks Investment Research downgraded shares of WesBanco from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $41.00.
WesBanco, Inc. (WSBC) opened at 41.13 on Thursday. The stock has a market cap of $1.81 billion, a P/E ratio of 18.79 and a beta of 0.96. WesBanco, Inc. has a 12 month low of $32.06 and a 12 month high of $44.19. The firm’s 50-day moving average is $38.24 and its 200-day moving average is $38.48.
WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). WesBanco had a net margin of 23.44% and a return on equity of 7.55%. The company had revenue of $94.26 million for the quarter, compared to the consensus estimate of $96.70 million. During the same quarter in the prior year, the firm earned $0.58 earnings per share. On average, equities analysts forecast that WesBanco, Inc. will post $2.45 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date was Thursday, September 7th. WesBanco’s dividend payout ratio is currently 47.71%.
In related news, EVP Brent E. Richmond sold 1,440 shares of WesBanco stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $36.83, for a total transaction of $53,035.20. Following the sale, the executive vice president now directly owns 22,701 shares in the company, valued at $836,077.83. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.05% of the stock is owned by insiders.
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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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