Dimensional Fund Advisors LP Buys 59,077 Shares of WesBanco, Inc. $WSBC

Dimensional Fund Advisors LP raised its stake in shares of WesBanco, Inc. (NASDAQ:WSBC) by 1.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,451,344 shares of the financial services provider’s stock after purchasing an additional 59,077 shares during the period. Dimensional Fund Advisors LP owned 0.06% of WesBanco worth $188,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in WSBC. Vanguard Group Inc. boosted 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 buying an additional 224,107 shares during the period. State Street Corp increased its position in shares of WesBanco by 0.4% during the second quarter. State Street Corp now owns 3,663,315 shares of the financial services provider’s stock worth $117,109,000 after acquiring an additional 14,147 shares during the period. Wellington Management Group LLP raised its stake in shares of WesBanco by 13.7% during the fourth quarter. Wellington Management Group LLP now owns 2,764,222 shares of the financial services provider’s stock valued at $91,883,000 after acquiring an additional 332,585 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of WesBanco by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,356,011 shares of the financial services provider’s stock valued at $78,325,000 after purchasing an additional 15,673 shares during the period. Finally, Verition Fund Management LLC boosted its holdings in shares of WesBanco by 1.2% in the fourth quarter. Verition Fund Management LLC now owns 1,872,132 shares of the financial services provider’s stock valued at $62,230,000 after purchasing an additional 21,621 shares during the period. 61.41% of the stock is owned by hedge funds and other institutional investors.

WesBanco Trading Up 2.9%

NASDAQ:WSBC opened at $41.25 on Friday. WesBanco, Inc. has a 52 week low of $29.18 and a 52 week high of $41.31. The firm has a 50 day moving average of $37.18 and a 200 day moving average of $35.69. The company has a quick ratio of 0.91, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 11.99 and a beta of 0.67.

WesBanco (NASDAQ:WSBC) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.07. WesBanco had a return on equity of 9.72% and a net margin of 23.35%.The company had revenue of $275.79 million for the quarter, compared to analyst estimates of $267.71 million. As a group, sell-side analysts anticipate that WesBanco, Inc. will post 3.57 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 5th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, June 5th. WesBanco’s dividend payout ratio is presently 49.03%.

WesBanco declared that its Board of Directors has initiated a share buyback plan on Wednesday, May 20th that authorizes the company to repurchase 4,000,000 shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts recently weighed in on WSBC shares. Zacks Research upgraded WesBanco from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $42.00 target price on shares of WesBanco in a report on Thursday. Royal Bank Of Canada boosted their price target on shares of WesBanco from $41.00 to $44.00 and gave the company a “sector perform” rating in a report on Thursday. Weiss Ratings raised shares of WesBanco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Finally, Piper Sandler upped their price target on shares of WesBanco from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $43.20.

Insiders Place Their Bets

In other news, Director Joseph R. Robinson bought 1,000 shares of WesBanco stock in a transaction that occurred on Monday, April 27th. The stock was bought at an average price of $34.54 per share, for a total transaction of $34,540.00. Following the purchase, the director directly owned 19,068 shares of the company’s stock, valued at approximately $658,608.72. The trade was a 5.53% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jan Pattishall-Krupinski sold 4,500 shares of WesBanco stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $36.71, for a total value of $165,195.00. Following the sale, the executive vice president directly owned 35,924 shares of the company’s stock, valued at approximately $1,318,770.04. This represents a 11.13% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.07% of the company’s stock.

About WesBanco

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.