Millennium Management LLC Has $3.81 Million Stake in WesBanco Inc (WSBC)
Millennium Management LLC lifted its stake in WesBanco Inc (NASDAQ:WSBC) by 33.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,814 shares of the financial services provider’s stock after acquiring an additional 26,086 shares during the period. Millennium Management LLC owned approximately 0.19% of WesBanco worth $3,809,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of WesBanco by 20.2% in the third quarter. Vanguard Group Inc. now owns 4,763,213 shares of the financial services provider’s stock worth $212,344,000 after acquiring an additional 798,937 shares during the period. New York State Common Retirement Fund boosted its stake in WesBanco by 18.7% during the fourth quarter. New York State Common Retirement Fund now owns 527,768 shares of the financial services provider’s stock valued at $19,364,000 after buying an additional 83,300 shares during the period. 361 Capital LLC boosted its stake in WesBanco by 72.5% during the fourth quarter. 361 Capital LLC now owns 62,766 shares of the financial services provider’s stock valued at $2,303,000 after buying an additional 26,375 shares during the period. Prudential Financial Inc. boosted its stake in WesBanco by 22.2% during the fourth quarter. Prudential Financial Inc. now owns 195,497 shares of the financial services provider’s stock valued at $7,173,000 after buying an additional 35,565 shares during the period. Finally, Vanguard Group Inc boosted its stake in WesBanco by 20.2% during the third quarter. Vanguard Group Inc now owns 4,763,213 shares of the financial services provider’s stock valued at $212,344,000 after buying an additional 798,937 shares during the period. 58.71% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Kerry M. Stemler purchased 1,343 shares of the stock in a transaction on Friday, March 22nd. The shares were acquired at an average price of $37.66 per share, for a total transaction of $50,577.38. Following the completion of the transaction, the director now directly owns 96,004 shares of the company’s stock, valued at approximately $3,615,510.64. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Denise H. Knouse-Snyder purchased 675 shares of the stock in a transaction on Thursday, February 21st. The shares were purchased at an average price of $42.36 per share, for a total transaction of $28,593.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at $84,720. The disclosure for this purchase can be found here. 3.24% of the stock is currently owned by company insiders.
WesBanco (NASDAQ:WSBC) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.02). The business had revenue of $126.13 million for the quarter, compared to the consensus estimate of $127.68 million. WesBanco had a net margin of 27.77% and a return on equity of 9.20%. WesBanco’s quarterly revenue was up 29.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.76 EPS. Equities research analysts anticipate that WesBanco Inc will post 3.27 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.31 per share. This is a positive change from WesBanco’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.24 annualized dividend and a yield of 3.03%. WesBanco’s dividend payout ratio (DPR) is currently 38.63%.
Several equities research analysts recently issued reports on the company. BidaskClub raised WesBanco from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 28th. Zacks Investment Research lowered WesBanco from a “hold” rating to a “sell” rating in a research note on Friday, April 12th. Finally, Boenning Scattergood reissued a “hold” rating on shares of WesBanco in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $44.67.
WesBanco Company Profile
WesBanco, Inc operates as the holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services in the United States. It operates in two segments, Community Banking, and Trust and Investment Services.
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