First Trust Advisors LP Sells 3,937 Shares of WesBanco Inc (WSBC)
First Trust Advisors LP cut its stake in WesBanco Inc (NASDAQ:WSBC) by 3.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 105,010 shares of the financial services provider’s stock after selling 3,937 shares during the period. First Trust Advisors LP’s holdings in WesBanco were worth $4,002,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Eqis Capital Management Inc. purchased a new position in shares of WesBanco during the first quarter valued at about $219,000. Wells Fargo & Company MN boosted its position in shares of WesBanco by 4.2% in the first quarter. Wells Fargo & Company MN now owns 200,230 shares of the financial services provider’s stock valued at $7,631,000 after buying an additional 8,086 shares during the period. BB&T Corp boosted its position in shares of WesBanco by 2.8% in the first quarter. BB&T Corp now owns 9,031 shares of the financial services provider’s stock valued at $345,000 after buying an additional 250 shares during the period. Wesbanco Bank Inc. boosted its position in shares of WesBanco by 0.6% in the first quarter. Wesbanco Bank Inc. now owns 1,655,365 shares of the financial services provider’s stock valued at $63,086,000 after buying an additional 9,668 shares during the period. Finally, IFP Advisors Inc boosted its position in shares of WesBanco by 0.5% in the first quarter. IFP Advisors Inc now owns 16,894 shares of the financial services provider’s stock valued at $644,000 after buying an additional 92 shares during the period. 55.10% of the stock is currently owned by institutional investors.
Shares of WesBanco Inc (NASDAQ:WSBC) opened at 38.77 on Monday. WesBanco Inc has a one year low of $29.44 and a one year high of $44.19. The stock’s 50 day moving average price is $39.08 and its 200 day moving average price is $40.05. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 17.97 and a beta of 0.88.
WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results on Tuesday, April 18th. The financial services provider reported $0.60 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. The business had revenue of $93.60 million during the quarter, compared to the consensus estimate of $94.82 million. WesBanco had a net margin of 23.57% and a return on equity of 7.81%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Analysts forecast that WesBanco Inc will post $2.49 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, July 1st. Shareholders of record on Friday, June 9th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, June 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.68%. WesBanco’s dividend payout ratio (DPR) is 44.24%.
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WSBC has been the subject of a number of analyst reports. ValuEngine upgraded WesBanco from a “hold” rating to a “buy” rating in a report on Saturday. DA Davidson upgraded WesBanco from a “neutral” rating to a “buy” rating and set a $43.00 target price for the company in a report on Friday. Zacks Investment Research lowered WesBanco from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. Keefe, Bruyette & Woods set a $42.00 target price on WesBanco and gave the stock a “hold” rating in a report on Monday, April 10th. Finally, Stephens restated an “overweight” rating on shares of WesBanco in a report on Tuesday, April 11th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $39.60.
In related news, EVP Gregory A. Dugan sold 8,000 shares of the business’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $40.72, for a total transaction of $325,760.00. Following the completion of the transaction, the executive vice president now owns 13,051 shares in the company, valued at $531,436.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Brent E. Richmond sold 5,000 shares of the business’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $40.86, for a total transaction of $204,300.00. Following the transaction, the executive vice president now owns 23,302 shares of the company’s stock, valued at approximately $952,119.72. The disclosure for this sale can be found here. Insiders own 4.22% of the company’s stock.
WesBanco, Inc (WesBanco) is a bank holding company. The Company offers a range of financial services, including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. WesBanco offers its services through two segments: community banking, which offers services, such as commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and trust and investment services, which offers trust services, as well as various alternative investment products, including mutual funds.
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