Sound Income Strategies LLC Purchases 42,428 Shares of WesBanco, Inc. $WSBC

Sound Income Strategies LLC grew its position in shares of WesBanco, Inc. (NASDAQ:WSBC) by 42.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 143,059 shares of the financial services provider’s stock after acquiring an additional 42,428 shares during the period. Sound Income Strategies LLC’s holdings in WesBanco were worth $5,287,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in WSBC. Hilton Head Capital Partners LLC acquired a new position in WesBanco in the fourth quarter worth approximately $29,000. Nykredit A S acquired a new stake in WesBanco in the second quarter valued at approximately $40,000. Public Employees Retirement System of Ohio bought a new stake in WesBanco in the second quarter worth approximately $57,000. Rockefeller Capital Management L.P. grew its position in WesBanco by 36.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,572 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 692 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of WesBanco by 39.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,546 shares of the financial services provider’s stock worth $95,000 after purchasing an additional 714 shares during the last quarter. Institutional investors own 61.41% of the company’s stock.

Insider Activity

In other news, EVP Kimberly L. Griffith sold 6,875 shares of WesBanco stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $41.20, for a total value of $283,250.00. Following the transaction, the executive vice president directly owned 15,858 shares in the company, valued at approximately $653,349.60. The trade was a 30.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jan Pattishall-Krupinski sold 2,500 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $41.91, for a total value of $104,775.00. Following the transaction, the executive vice president directly owned 33,484 shares of the company’s stock, valued at $1,403,314.44. This represents a 6.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 35,195 shares of company stock worth $1,465,800. Insiders own 2.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on WSBC shares. Raymond James Financial downgraded shares of WesBanco from a “strong-buy” rating to a “market perform” rating in a report on Tuesday. Weiss Ratings reissued a “buy (b)” rating on shares of WesBanco in a research report on Monday, August 3rd. Piper Sandler cut their target price on WesBanco from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday. Zacks Research raised WesBanco from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $44.00 price target on shares of WesBanco in a research report on Monday, September 14th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.60.

WesBanco Stock Performance

Shares of NASDAQ:WSBC traded down $0.37 during trading on Friday, reaching $36.59. The stock had a trading volume of 679,393 shares, compared to its average volume of 882,933. WesBanco, Inc. has a 52 week low of $29.57 and a 52 week high of $43.02. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 10.64 and a beta of 0.69. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The stock has a fifty day simple moving average of $40.14 and a two-hundred day simple moving average of $37.66.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.07. The business had revenue of $275.79 million during the quarter, compared to analysts’ expectations of $267.71 million. WesBanco had a net margin of 23.35% and a return on equity of 9.72%. As a group, analysts anticipate that WesBanco, Inc. will post 3.57 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 4th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $1.52 dividend on an annualized basis and a yield of 4.2%. WesBanco’s payout ratio is currently 44.19%.

WesBanco Profile

WesBanco, Inc is a financial services holding company headquartered in Wheeling, West Virginia. Through its principal subsidiary, WesBanco Bank, the company provides banking and financial services to consumers, businesses, and organizations.

WesBanco’s offerings include checking and savings accounts, consumer and residential real estate loans, commercial lending, credit cards, online and mobile banking, and other deposit and treasury management services. The company also provides trust, investment management, brokerage, and insurance services through affiliated businesses and financial professionals.

Founded in 1870, WesBanco has developed a regional banking presence serving communities in West Virginia, Ohio, Pennsylvania, Kentucky, and Indiana.