WesBanco Inc (WSBC) is Wesbanco Bank Inc.’s 2nd Largest Position
Wesbanco Bank Inc. reduced its stake in WesBanco Inc (NASDAQ:WSBC) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,624,768 shares of the financial services provider’s stock after selling 20,415 shares during the quarter. WesBanco comprises 3.6% of Wesbanco Bank Inc.’s holdings, making the stock its 2nd largest position. Wesbanco Bank Inc. owned 2.98% of WesBanco worth $72,432,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. Legacy Financial Advisors Inc. bought a new position in shares of WesBanco during the third quarter worth approximately $108,000. WealthTrust Fairport LLC bought a new position in shares of WesBanco during the second quarter worth approximately $118,000. Stratos Wealth Partners LTD. bought a new position in shares of WesBanco during the third quarter worth approximately $138,000. AlphaMark Advisors LLC bought a new position in shares of WesBanco during the third quarter worth approximately $184,000. Finally, Horan Capital Advisors LLC. bought a new position in shares of WesBanco during the second quarter worth approximately $186,000. 54.44% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently issued reports on WSBC. Zacks Investment Research upgraded shares of WesBanco from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Thursday, July 26th. BidaskClub upgraded shares of WesBanco from a “hold” rating to a “buy” rating in a research report on Wednesday, August 15th. Boenning Scattergood reiterated a “hold” rating on shares of WesBanco in a research report on Friday, October 26th. B. Riley set a $45.00 price target on shares of WesBanco and gave the stock a “hold” rating in a research report on Friday, November 2nd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $48.00 price target on shares of WesBanco in a research report on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $47.25.
WesBanco (NASDAQ:WSBC) last issued its earnings results on Wednesday, October 24th. The financial services provider reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.14). WesBanco had a net margin of 24.22% and a return on equity of 9.04%. The company had revenue of $116.16 million during the quarter, compared to analyst estimates of $109.07 million. During the same quarter in the prior year, the business earned $0.60 EPS. Equities analysts expect that WesBanco Inc will post 3.16 EPS for the current year.
In other news, EVP Brent E. Richmond sold 4,006 shares of WesBanco stock in a transaction on Monday, September 24th. The shares were sold at an average price of $45.60, for a total transaction of $182,673.60. Following the transaction, the executive vice president now owns 19,635 shares in the company, valued at $895,356. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael L. Perkins sold 3,250 shares of WesBanco stock in a transaction on Monday, August 27th. The stock was sold at an average price of $50.22, for a total transaction of $163,215.00. Following the transaction, the executive vice president now owns 12,008 shares in the company, valued at approximately $603,041.76. The disclosure for this sale can be found here. Company insiders own 4.14% of the company’s stock.
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WesBanco, Inc operates as the holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services in the United States. It operates in two segments, Community Banking, and Trust and Investment Services.
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