Piedmont Investment Advisors LLC Buys 16,119 Shares of WesBanco, Inc. (WSBC)
Piedmont Investment Advisors LLC grew its stake in WesBanco, Inc. (NASDAQ:WSBC) by 43.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,234 shares of the financial services provider’s stock after purchasing an additional 16,119 shares during the period. Piedmont Investment Advisors LLC owned approximately 0.12% of WesBanco worth $2,105,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of WesBanco by 1.2% in the second quarter. Vanguard Group Inc. now owns 3,502,925 shares of the financial services provider’s stock valued at $138,505,000 after purchasing an additional 41,522 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of WesBanco by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,429,514 shares of the financial services provider’s stock valued at $135,604,000 after purchasing an additional 107,161 shares during the period. BlackRock Inc. increased its holdings in shares of WesBanco by 1.8% in the second quarter. BlackRock Inc. now owns 2,700,401 shares of the financial services provider’s stock valued at $106,773,000 after purchasing an additional 46,799 shares during the period. Earnest Partners LLC increased its holdings in shares of WesBanco by 0.8% in the second quarter. Earnest Partners LLC now owns 1,509,418 shares of the financial services provider’s stock valued at $59,682,000 after purchasing an additional 11,643 shares during the period. Finally, Macquarie Group Ltd. increased its holdings 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 valued at $52,362,000 after purchasing an additional 30,212 shares during the period. 57.72% of the stock is currently owned by institutional investors and hedge funds.
WSBC has been the topic of a number of recent analyst reports. BidaskClub lowered WesBanco from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. FBR & Co reaffirmed a “mkt perform” rating and set a $40.00 price objective (down previously from $44.00) on shares of WesBanco in a report on Thursday, July 20th. Zacks Investment Research lowered WesBanco from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $41.00 price objective on shares of WesBanco in a report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $41.00.
Shares of WesBanco, Inc. (WSBC) traded up 0.91% on Monday, reaching $42.06. The company had a trading volume of 12,539 shares. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 19.21 and a beta of 0.96. The stock has a 50 day moving average price of $39.41 and a 200-day moving average price of $38.78. WesBanco, Inc. has a 12 month low of $32.06 and a 12 month high of $44.19.
WesBanco (NASDAQ:WSBC) last announced its earnings results on Wednesday, July 19th. The financial services provider reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.01). The business had revenue of $94.26 million for the quarter, compared to the consensus estimate of $96.70 million. WesBanco had a net margin of 23.44% and a return on equity of 7.55%. During the same period in the previous year, the firm earned $0.58 EPS. Analysts forecast that WesBanco, Inc. will post $2.45 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Thursday, September 7th. WesBanco’s payout ratio is currently 47.71%.
In other WesBanco news, EVP Brent E. Richmond sold 1,440 shares of WesBanco 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 of the company’s stock, valued at approximately $836,077.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.05% of the stock is owned by insiders.
WesBanco Company Profile
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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