24,231 Shares in WesBanco, Inc. $WSBC Acquired by Fox Run Management L.L.C.

Fox Run Management L.L.C. purchased a new stake in WesBanco, Inc. (NASDAQ:WSBC) during the 3rd quarter, HoldingsChannel reports. The fund purchased 24,231 shares of the financial services provider’s stock, valued at approximately $774,000.

Other hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its holdings in shares of WesBanco by 255.1% during the third quarter. Smartleaf Asset Management LLC now owns 799 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 574 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of WesBanco in the 2nd quarter worth about $26,000. First Horizon Corp bought a new stake in shares of WesBanco in the 3rd quarter worth about $27,000. True Wealth Design LLC increased its position in shares of WesBanco by 77.9% during the 3rd quarter. True Wealth Design LLC now owns 877 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 384 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in WesBanco by 71.9% during the 2nd quarter. Federated Hermes Inc. now owns 1,435 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 600 shares during the last quarter. 61.41% of the stock is currently owned by institutional investors and hedge funds.

WesBanco Trading Down 0.3%

WSBC opened at $36.28 on Friday. WesBanco, Inc. has a 1-year low of $26.42 and a 1-year high of $38.10. The stock has a market capitalization of $3.48 billion, a PE ratio of 17.53 and a beta of 0.80. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $35.24 and a two-hundred day moving average price of $33.12.

WesBanco (NASDAQ:WSBC) last announced its earnings results on Tuesday, January 27th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.84. The company had revenue of $265.78 million for the quarter, compared to analyst estimates of $265.53 million. WesBanco had a net margin of 15.51% and a return on equity of 8.88%. During the same period in the prior year, the business earned $0.71 earnings per share. As a group, equities analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 6th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Friday, March 6th. WesBanco’s dividend payout ratio (DPR) is presently 73.43%.

Insider Activity at WesBanco

In other news, Director F Eric Nelson, Jr. sold 752 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $33.37, for a total transaction of $25,094.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on WSBC shares. Piper Sandler began coverage on shares of WesBanco in a research report on Wednesday, December 17th. They issued an “overweight” rating and a $42.00 price target on the stock. DA Davidson assumed coverage on shares of WesBanco in a research note on Wednesday. They issued a “buy” rating and a $44.00 target price for the company. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of WesBanco in a report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $40.00.

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.