Edgestream Partners L.P. Acquires 94,863 Shares of WesBanco, Inc. $WSBC

Edgestream Partners L.P. boosted its stake in shares of WesBanco, Inc. (NASDAQ:WSBC) by 65.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 240,829 shares of the financial services provider’s stock after buying an additional 94,863 shares during the quarter. Edgestream Partners L.P.’s holdings in WesBanco were worth $8,306,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of WesBanco by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 9,819,476 shares of the financial services provider’s stock valued at $326,399,000 after buying an additional 224,107 shares in the last quarter. Wesbanco Bank Inc. raised its position in WesBanco by 5.5% during the fourth quarter. Wesbanco Bank Inc. now owns 1,570,275 shares of the financial services provider’s stock worth $52,196,000 after acquiring an additional 81,974 shares in the last quarter. Hsbc Holdings PLC bought a new stake in WesBanco during the fourth quarter worth $1,492,000. Gator Capital Management LLC acquired a new stake in WesBanco in the fourth quarter valued at $1,462,000. Finally, Aristotle Capital Boston LLC acquired a new stake in WesBanco in the fourth quarter valued at $11,279,000. 61.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at WesBanco

In other WesBanco news, EVP Kimberly L. Griffith sold 6,875 shares of the stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $41.20, for a total value of $283,250.00. Following the transaction, the executive vice president directly owned 15,858 shares of the company’s stock, valued at $653,349.60. This represents a 30.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jan Pattishall-Krupinski sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $36.71, for a total transaction of $165,195.00. Following the sale, the executive vice president owned 35,924 shares of the company’s stock, valued at $1,318,770.04. This trade represents a 11.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 16,125 shares of company stock worth $646,482. 2.07% of the stock is owned by company insiders.

WesBanco Trading Down 0.3%

Shares of WesBanco stock opened at $41.90 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.93. The business has a fifty day simple moving average of $37.66 and a two-hundred day simple moving average of $35.85. WesBanco, Inc. has a 1 year low of $29.18 and a 1 year high of $42.21. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of 12.18 and a beta of 0.67.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.85 by $0.07. The firm had revenue of $275.79 million for the quarter, compared to the consensus estimate of $267.71 million. WesBanco had a net margin of 23.35% and a return on equity of 9.72%. Research analysts forecast that WesBanco, Inc. will post 3.57 EPS for the current year.

WesBanco declared that its board has authorized a stock repurchase program on Wednesday, May 20th that permits the company to buyback 4,000,000 outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 5th were paid a $0.38 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.52 dividend on an annualized basis and a yield of 3.6%. WesBanco’s dividend payout ratio is 44.19%.

Analyst Ratings Changes

WSBC has been the subject of a number of analyst reports. Weiss Ratings raised shares of WesBanco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Piper Sandler upped their target price on shares of WesBanco from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, June 26th. DA Davidson set a $46.00 target price on shares of WesBanco in a research note on Thursday, July 23rd. Zacks Research upgraded WesBanco from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Finally, Royal Bank Of Canada boosted their price target on WesBanco from $41.00 to $44.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, WesBanco currently has an average rating of “Moderate Buy” and an average target price of $43.20.

About WesBanco

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.