16,052 Shares in WesBanco, Inc. $WSBC Purchased by Fieldview Capital Management LLC

Fieldview Capital Management LLC acquired a new position in shares of WesBanco, Inc. (NASDAQ:WSBC) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 16,052 shares of the financial services provider’s stock, valued at approximately $534,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in WesBanco by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 9,819,476 shares of the financial services provider’s stock valued at $326,399,000 after acquiring an additional 224,107 shares in the last quarter. State Street Corp grew its position in WesBanco by 0.4% in the 2nd quarter. State Street Corp now owns 3,663,315 shares of the financial services provider’s stock valued at $117,109,000 after acquiring an additional 14,147 shares in the last quarter. Wellington Management Group LLP grew its position in WesBanco by 1.3% in the 3rd quarter. Wellington Management Group LLP now owns 2,431,637 shares of the financial services provider’s stock valued at $77,642,000 after acquiring an additional 32,374 shares in the last quarter. Geode Capital Management LLC grew its position in WesBanco by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,356,011 shares of the financial services provider’s stock valued at $78,325,000 after acquiring an additional 15,673 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in WesBanco by 30.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,607,740 shares of the financial services provider’s stock valued at $53,441,000 after acquiring an additional 375,284 shares in the last quarter. 61.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

WSBC has been the subject of several research reports. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $41.00 target price on shares of WesBanco in a research report on Thursday, March 12th. Weiss Ratings raised WesBanco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Zacks Research downgraded WesBanco from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 28th. DA Davidson reaffirmed a “buy” rating and issued a $41.00 target price on shares of WesBanco in a research report on Wednesday, April 22nd. Finally, Piper Sandler dropped their target price on WesBanco from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.50.

Insider Transactions at WesBanco

In related news, Director Louis Michael Altman acquired 3,000 shares of the stock in a transaction dated Thursday, April 23rd. The stock was acquired at an average cost of $33.72 per share, with a total value of $101,160.00. Following the completion of the transaction, the director owned 33,164 shares in the company, valued at $1,118,290.08. This represents a 9.95% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Lee J. Burdman acquired 3,000 shares of the stock in a transaction dated Thursday, April 23rd. The shares were bought at an average cost of $33.60 per share, with a total value of $100,800.00. Following the completion of the transaction, the director owned 46,772 shares of the company’s stock, valued at approximately $1,571,539.20. This represents a 6.85% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 7,940 shares of company stock valued at $267,299. 2.07% of the stock is currently owned by corporate insiders.

WesBanco Stock Performance

Shares of WesBanco stock opened at $36.08 on Tuesday. WesBanco, Inc. has a one year low of $29.18 and a one year high of $38.10. The company has a market cap of $3.47 billion, a PE ratio of 11.64 and a beta of 0.68. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 0.92. The business has a 50-day simple moving average of $34.78 and a 200-day simple moving average of $34.65.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. WesBanco had a return on equity of 9.76% and a net margin of 21.12%.The business had revenue of $257.23 million during the quarter, compared to the consensus estimate of $264.52 million. During the same period in the previous year, the company posted $0.66 earnings per share. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, equities research analysts forecast that WesBanco, Inc. will post 3.59 EPS for the current fiscal year.

WesBanco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.2%. WesBanco’s payout ratio is currently 49.03%.

WesBanco announced that its board has authorized a stock repurchase program on Wednesday, May 20th that allows the company to buyback 4,000,000 shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.