Oppenheimer Asset Management Inc. Sells 26,365 Shares of WesBanco Inc (NASDAQ:WSBC)
Oppenheimer Asset Management Inc. lessened its position in shares of WesBanco Inc (NASDAQ:WSBC) by 67.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,574 shares of the financial services provider’s stock after selling 26,365 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in WesBanco were worth $485,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Trustcore Financial Services LLC purchased a new stake in shares of WesBanco during the 1st quarter worth approximately $25,000. DekaBank Deutsche Girozentrale purchased a new position in shares of WesBanco in the 2nd quarter worth $49,000. Advisory Services Network LLC grew its stake in shares of WesBanco by 73.9% in the 1st quarter. Advisory Services Network LLC now owns 1,330 shares of the financial services provider’s stock worth $53,000 after buying an additional 565 shares in the last quarter. Accurate Investment Solutions Inc. increased its holdings in shares of WesBanco by 9.1% in the 2nd quarter. Accurate Investment Solutions Inc. now owns 4,489 shares of the financial services provider’s stock worth $173,000 after buying an additional 373 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of WesBanco in the 2nd quarter worth about $255,000. 57.59% of the stock is currently owned by institutional investors and hedge funds.
In other WesBanco news, Director Stephen J. Callen bought 7,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were purchased at an average price of $33.76 per share, with a total value of $236,320.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brent E. Richmond sold 5,323 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $36.53, for a total value of $194,449.19. Following the completion of the sale, the executive vice president now owns 17,428 shares in the company, valued at $636,644.84. The disclosure for this sale can be found here. 3.24% of the stock is owned by company insiders.
WesBanco (NASDAQ:WSBC) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.82 EPS for the quarter, hitting analysts’ consensus estimates of $0.82. The firm had revenue of $129.62 million during the quarter, compared to analysts’ expectations of $127.44 million. WesBanco had a net margin of 27.85% and a return on equity of 8.68%. During the same period in the previous year, the company earned $0.80 EPS. As a group, equities research analysts expect that WesBanco Inc will post 3.16 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Friday, September 6th. WesBanco’s payout ratio is currently 38.63%.
A number of research analysts recently commented on the stock. Zacks Investment Research downgraded shares of WesBanco from a “hold” rating to a “sell” rating in a report on Sunday. Sandler O’Neill raised WesBanco from a “hold” rating to a “buy” rating in a research note on Thursday, July 25th. BidaskClub upgraded WesBanco from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Hovde Group started coverage on WesBanco in a research note on Monday, June 17th. They issued an “outperform” rating and a $42.00 price objective for the company. Finally, Keefe, Bruyette & Woods upgraded WesBanco from a “market perform” rating to an “outperform” rating and set a $42.00 target price for the company in a report on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $42.50.
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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