Wescott Financial Advisory Group LLC bought a new position in shares of WesBanco, Inc. (NASDAQ:WSBC) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 8,333 shares of the financial services provider’s stock, valued at approximately $272,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Citigroup Inc. increased its holdings in WesBanco by 15.4% during the second quarter. Citigroup Inc. now owns 35,837 shares of the financial services provider’s stock worth $1,277,000 after buying an additional 4,793 shares during the last quarter. Rafferty Asset Management LLC increased its holdings in WesBanco by 45.2% during the second quarter. Rafferty Asset Management LLC now owns 42,586 shares of the financial services provider’s stock worth $1,517,000 after buying an additional 13,257 shares during the last quarter. Wesbanco Bank Inc. increased its holdings in WesBanco by 38.6% during the second quarter. Wesbanco Bank Inc. now owns 2,650,685 shares of the financial services provider’s stock worth $94,445,000 after buying an additional 738,385 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in WesBanco during the second quarter worth $36,000. Finally, Fifth Third Bancorp increased its holdings in WesBanco by 48.7% during the second quarter. Fifth Third Bancorp now owns 7,984 shares of the financial services provider’s stock worth $284,000 after buying an additional 2,613 shares during the last quarter. Institutional investors and hedge funds own 62.31% of the company’s stock.
Shares of NASDAQ:WSBC traded up $0.34 on Wednesday, hitting $31.32. The company had a trading volume of 2,476 shares, compared to its average volume of 253,554. WesBanco, Inc. has a 1-year low of $19.56 and a 1-year high of $39.87. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 9.17 and a beta of 1.09. The stock has a 50 day moving average price of $33.24 and a 200 day moving average price of $35.64. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Friday, September 10th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.21%. The ex-dividend date is Thursday, September 9th. WesBanco’s dividend payout ratio is currently 70.21%.
A number of brokerages recently weighed in on WSBC. Zacks Investment Research downgraded shares of WesBanco from a “buy” rating to a “hold” rating in a report on Thursday, August 5th. Raymond James downgraded shares of WesBanco from an “outperform” rating to a “market perform” rating in a report on Thursday, July 8th. Finally, B. Riley reiterated a “neutral” rating on shares of WesBanco in a report on Tuesday, July 27th. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, WesBanco has an average rating of “Hold” and a consensus price target of $33.25.
WesBanco Company Profile
WesBanco, Inc is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Community Banking, and Trust and Investment Services. The Community Banking segment delivers services traditionally offered by service commercial banks, including commercial demand, individual demand, and time deposit accounts, as well as commercial, mortgage, and individual installment loans, and certain non-traditional offerings, such as insurance and securities brokerage services.
Want to see what other hedge funds are holding WSBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WesBanco, Inc. (NASDAQ:WSBC).
Receive News & Ratings for WesBanco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WesBanco and related companies with MarketBeat.com's FREE daily email newsletter.