UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 14,268 Shares of WesBanco, Inc. $WSBC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in WesBanco, Inc. (NASDAQ:WSBC) by 7.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 212,072 shares of the financial services provider’s stock after purchasing an additional 14,268 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.22% of WesBanco worth $8,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in WSBC. Legal & General Group Plc bought a new position in shares of WesBanco during the 2nd quarter worth approximately $8,701,000. Deutsche Bank AG bought a new stake in shares of WesBanco in the 2nd quarter valued at $3,914,000. Hsbc Holdings PLC acquired a new position in shares of WesBanco during the 4th quarter valued at $1,492,000. Canada Pension Plan Investment Board acquired a new position in shares of WesBanco during the 2nd quarter valued at $10,089,000. Finally, Edgestream Partners L.P. boosted its stake in WesBanco by 65.0% during the first quarter. Edgestream Partners L.P. now owns 240,829 shares of the financial services provider’s stock worth $8,306,000 after acquiring an additional 94,863 shares in the last quarter. Institutional investors own 61.41% of the company’s stock.

Analyst Upgrades and Downgrades

WSBC has been the subject of a number of research reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $42.00 price target on shares of WesBanco in a report on Thursday, July 23rd. Zacks Research upgraded shares of WesBanco from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Wall Street Zen upgraded WesBanco from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Royal Bank Of Canada boosted their target price on WesBanco from $41.00 to $44.00 and gave the company a “sector perform” rating in a research report on Thursday, July 23rd. Finally, DA Davidson set a $46.00 price target on WesBanco in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.20.

WesBanco Stock Performance

WSBC opened at $41.33 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.43. The company’s fifty day moving average price is $40.80 and its two-hundred day moving average price is $36.98. WesBanco, Inc. has a 1-year low of $29.57 and a 1-year high of $43.02. The company has a market cap of $3.96 billion, a price-to-earnings ratio of 12.01 and a beta of 0.66.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. The firm had revenue of $275.79 million for the quarter, compared to analyst estimates of $267.71 million. WesBanco had a net margin of 23.35% and a return on equity of 9.72%. On average, analysts expect that WesBanco, Inc. will post 3.57 EPS for the current fiscal year.

WesBanco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, September 4th. WesBanco’s payout ratio is currently 44.19%.

WesBanco declared that its Board of Directors has authorized a share repurchase program on Wednesday, May 20th that allows the company to repurchase 4,000,000 outstanding shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, EVP Kimberly Griffith sold 6,875 shares of the company’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $41.20, for a total value of $283,250.00. Following the completion of the sale, the executive vice president owned 15,858 shares in the company, valued at $653,349.60. This represents a 30.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Robert Friend sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $42.06, for a total transaction of $252,360.00. Following the transaction, the executive vice president directly owned 17,361 shares in the company, valued at $730,203.66. The trade was a 25.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 39,695 shares of company stock worth $1,630,995. Company insiders own 2.07% of the company’s stock.

WesBanco Company Profile

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.