Maltese Capital Management LLC Has $9.14 Million Stock Position in WesBanco, Inc. $WSBC

Maltese Capital Management LLC decreased its position in WesBanco, Inc. (NASDAQ:WSBC) by 31.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 275,000 shares of the financial services provider’s stock after selling 126,981 shares during the period. WesBanco makes up 1.6% of Maltese Capital Management LLC’s portfolio, making the stock its 17th largest position. Maltese Capital Management LLC’s holdings in WesBanco were worth $9,141,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in WSBC. Royal Bank of Canada grew its holdings in shares of WesBanco by 52.2% in the 1st quarter. Royal Bank of Canada now owns 59,983 shares of the financial services provider’s stock valued at $1,858,000 after buying an additional 20,585 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of WesBanco by 56.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,100 shares of the financial services provider’s stock valued at $1,582,000 after buying an additional 18,347 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of WesBanco by 1,553.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,017 shares of the financial services provider’s stock valued at $62,000 after buying an additional 1,895 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of WesBanco by 179.7% in 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 buying an additional 991,584 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of WesBanco by 60.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 216,545 shares of the financial services provider’s stock valued at $6,704,000 after buying an additional 81,319 shares during the period. Institutional investors and hedge funds own 61.41% of the company’s stock.

WesBanco Trading Down 1.9%

WesBanco stock opened at $36.08 on Tuesday. The firm has a 50-day moving average of $34.78 and a 200-day moving average of $34.65. WesBanco, Inc. has a one year low of $29.18 and a one year high of $38.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.91. The company has a market cap of $3.47 billion, a price-to-earnings ratio of 11.64 and a beta of 0.68.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. WesBanco had a net margin of 21.12% and a return on equity of 9.76%. The company had revenue of $257.23 million during the quarter, compared to the consensus estimate of $264.52 million. During the same period in the prior year, the business posted $0.66 EPS. The company’s quarterly revenue was down 3.1% on a year-over-year basis. On average, equities analysts expect that WesBanco, Inc. will post 3.59 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Friday, June 5th. WesBanco’s dividend payout ratio is currently 49.03%.

WesBanco announced that its Board of Directors has initiated a share buyback plan on Wednesday, May 20th that permits the company to repurchase 4,000,000 outstanding shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Weiss Ratings raised shares of WesBanco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. DA Davidson reaffirmed a “buy” rating and issued a $41.00 target price on shares of WesBanco in a research note on Wednesday, April 22nd. Piper Sandler reduced their target price on shares of WesBanco from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Zacks Research lowered shares of WesBanco from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $41.00 target price on shares of WesBanco in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, WesBanco currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.50.

Insider Transactions at WesBanco

In other news, Director Lee J. Burdman bought 3,000 shares of the company’s stock in a transaction dated Thursday, April 23rd. The shares were bought at an average cost of $33.60 per share, with a total value of $100,800.00. Following the acquisition, the director owned 46,772 shares in the company, valued at $1,571,539.20. This trade represents a 6.85% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph R. Robinson bought 1,000 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was purchased at an average cost of $34.54 per share, for a total transaction of $34,540.00. Following the completion of the acquisition, the director owned 19,068 shares in the company, valued at $658,608.72. This trade represents a 5.53% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 7,940 shares of company stock worth $267,299 in the last three months. Insiders own 2.07% of the company’s stock.

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.