Wesbanco Bank Inc. Decreases Stock Position in WesBanco, Inc. $WSBC

Wesbanco Bank Inc. lowered its position in WesBanco, Inc. (NASDAQ:WSBC) by 5.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,488,301 shares of the financial services provider’s stock after selling 77,568 shares during the period. WesBanco comprises approximately 1.3% of Wesbanco Bank Inc.’s holdings, making the stock its 10th largest position. Wesbanco Bank Inc.’s holdings in WesBanco were worth $47,521,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of WSBC. First Trust Advisors LP lifted its position in shares of WesBanco by 949.3% in the second quarter. First Trust Advisors LP now owns 1,281,260 shares of the financial services provider’s stock valued at $40,526,000 after acquiring an additional 1,159,158 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in WesBanco by 179.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,543,243 shares of the financial services provider’s stock valued at $47,779,000 after purchasing an additional 991,584 shares during the period. Hood River Capital Management LLC purchased a new position in WesBanco in the 2nd quarter worth approximately $29,869,000. Algebris UK Ltd. bought a new position in WesBanco in the 3rd quarter worth approximately $19,863,000. Finally, Bridgeway Capital Management LLC grew its holdings in WesBanco by 96.6% during the 2nd quarter. Bridgeway Capital Management LLC now owns 458,606 shares of the financial services provider’s stock valued at $14,506,000 after buying an additional 225,366 shares in the last quarter. Hedge funds and other institutional investors own 61.41% of the company’s stock.

WesBanco Price Performance

WesBanco stock opened at $37.78 on Tuesday. WesBanco, Inc. has a 52-week low of $26.42 and a 52-week high of $38.10. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.44. The firm’s fifty day moving average is $34.61 and its 200 day moving average is $32.61. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 18.25 and a beta of 0.80.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.84 EPS for the quarter, hitting analysts’ consensus estimates of $0.84. The business had revenue of $265.78 million during the quarter, compared to analysts’ expectations of $265.53 million. WesBanco had a net margin of 15.51% and a return on equity of 8.88%. During the same period last year, the company posted $0.71 EPS. Sell-side analysts forecast that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, December 5th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.0%. This is a boost from WesBanco’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, December 5th. WesBanco’s dividend payout ratio (DPR) is currently 73.43%.

Analyst Ratings Changes

Several research firms have recently issued reports on WSBC. Weiss Ratings reiterated a “hold (c+)” rating on shares of WesBanco in a research report on Monday, December 29th. DA Davidson downgraded shares of WesBanco from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Finally, Piper Sandler assumed coverage on shares of WesBanco in a research note on Wednesday, December 17th. They issued an “overweight” rating and a $42.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Insider Activity

In other news, Director F Eric Nelson, Jr. sold 752 shares of WesBanco stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $33.37, for a total value of $25,094.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.80% of the stock is owned by insiders.

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.